Evolus Inc. (EOLS) is a performance beauty company with an interesting chart. Let's check out the charts of this Newport Beach, California-based firm.
In the daily bar chart of EOLS, below, we can see some choppy up and down trading -- not all that unusual for a relatively recent IPO. Prices have crossed up and down and over and under the 50-day moving average line and the 200-day line. The 50-day line is poised to cross below the 200-day line for what is commonly called a bearish dead cross.
The On-Balance-Volume (OBV) line shows a couple trends over the past twelve months -- a decline to December followed by a very steep rise in early February and then another decline. In recent weeks the OBV line has been steady, which may be signaling a return of more aggressive buyers.
The Moving Average Convergence Divergence (MACD) oscillator has crossed to the upside earlier this month for a cover shorts buy signal.
In the weekly Japanese candlestick chart of EOLS, below, we don't have a lot of price history to work with but we can see some lower shadows during June which suggests that traders are rejecting the lows.
The trading volume in May and June looks better than April and the OBV line is holding above the January low. The weekly MACD oscillator has begun to narrow from below the zero line so we may see a weekly cover shorts buy signal.
In this Point and Figure chart of EOLS, below, we can see a nearby price target of $16. Not a runaway but it is a start.
Bottom-line strategy: The charts and indicators of EOLS are not table-pounding bullish but they are interesting. More base building is needed but it may pay to keep this one on your future shopping list.
