Elf Beauty Buy Opportunity from Double Bottom Formation

about 2 months ago

Ed Carson

"This is another name that has come back from a pretty sharp sell off, but is acting very, very well. There is a buy point at 124.31. Technically, there's probably a handle that's maybe like 123.94. So you could take an entry at that double bottom base, or possibly use Friday's high as an alternate entry."

The segment discussed Elf Beauty's recovery from a steep sell-off with a technical double bottom base. A clear buy opportunity has been identified at around 124.31 (or near 123.94), implying a potential turnaround in momentum. The actionable trade signal is to consider a long position given the technical rebound and evolving earnings outlook.

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