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Is it Time to Dump Elastic NV (ESTC) Stock After it Has Gained 2.98% in a Week?

Friday, February 03, 2023 03:45 PM | InvestorsObserver Analysts

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Is it Time to Dump Elastic NV (ESTC) Stock After it Has Gained 2.98% in a Week?

Elastic NV (ESTC) stock is higher by 2.98% over the past week and gets a Bullish rating from InvestorsObserver Sentiment Indicator.

Sentiment Score - ,bullish
Elastic NV has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on ESTC!

What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score. As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend. Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive. InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend. Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .

What's Happening With ESTC Stock Today?

Elastic NV (ESTC) stock is trading at $61.12 as of 3:43 PM on Friday, Feb 3, a decline of -$3.98, or -6.11% from the previous closing price of $65.10. The stock has traded between $60.72 and $63.54 so far today. Volume today is 1,429,750 compared to average volume of 1,340,031. To screen for more stocks like Elastic NV click here.

More About Elastic NV

Elastic is a software company based in Mountain View, California, focusing on search-adjacent products. Its search engine allows it to process both structured and unstructured data while gleaning insights from that data. The firm's primary focus is on enterprise search, observability, and security. Click Here to get the full Stock Report for Elastic NV stock.

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