Evolus, Inc. (EOLS) makes a product that is a competitor to Botox, and since I am on the wrong side of 65 I thought I would take a look at the charts and indicators. You never know how vain you can become as the years tick by. We wrote about EOLS late last month, but we like how it is shaping up.
In this daily bar chart of EOLS, below, you can see that prices have swung up and down and back and forth. Prices have crossed back and forth around the 50-day moving average line and the limited history of the 200-day line. Both averages have a bearish slope but they are not that far above the market.
Trading volume has been light with a couple of volume surges in February and again in May. The On-Balance-Volume (OBV) line moved up sharply in January and February and it has given back about half of the gains, suggesting that many of the recent longs are still holding their positions.
The Moving Average Convergence Divergence (MACD) oscillator gave a cover shorts buy signal in early June and it is now close to crossing the zero line for an outright go long signal.
In this weekly Japanese candlestick chart of EOLS, below, we can see some lower shadows in June suggesting that traders are rejecting the lows.
The weekly OBV line is steady to improving and the MACD oscillator is narrowing towards a cover shorts signal.
In this Point and Figure chart of EOLS, below, there is a nearby price target but it will be a new high for the move up - a positive signal.
Bottom line strategy: Risking to $12 aggressive traders could go long EOLS here and add on strength. $28 and $45 are my long-term price targets.