NYSE
On the weekly chart, NasdaqScan last detected a sideways range retest in ELAN in the week of 17 Nov 2019.
Since 2018, NasdaqScan has found 3 sideways ranges in ELAN. Completed ranges lasted 602 days on average, from 469 to 854 days. Of those 3, 2 broke upward and 1 broke downward.
The pattern: price breaks out below a long sideways range, the pullback back into the range fails, and price comes back to retest the low. Traders also call this a spring. NasdaqScan flags the weekly candle that makes the retest.
Weekly chart: each candle is one week of trading, and every date on this page is the week it falls in.
Gold dashed bands mark earlier sideways ranges, from their first swing to where they broke. Pick a range in the table below to zoom the chart to it.
| Range | Started | Ended | How it ended | Retest signals (week of) |
|---|---|---|---|---|
| 22 Oct 2023 | 22 Feb 2026 (854 days) | Broke above the range at $27.72 | — | |
| 19 Jan 2020 | 16 May 2021 (483 days) | Broke above the range at $36.54 | — | |
| 2 Dec 2018 | 15 Mar 2020 (469 days) | Broke below the range at $15.17 | 17 Nov 2019 (Go ahead) |
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Past patterns don't predict future price moves. This page shows what an automated algorithm detected and is not financial advice. Read the disclaimer.