After accumulation, acceleration. Timing appears favorable to go long in shares of EL.En. S.p.A. and to anticipate an exit of the trading range on the upside.
Strengths
● The company is in a robust financial situation considering its net cash and margin position.
● The tendency within the weekly time frame is positive above the technical support level at 18.78 EUR
Weaknesses
● The share is close to its long-term resistance in weekly data. Therefore, the potential should be limited. However, a further bullish movement when crossing this resistance will be a positive signal.
● The stock is close to a major daily resistance at EUR 28.95, which should be gotten rid of so as to gain new appreciation potential.
● The firm pays small or no dividend to shareholders. For that reason, it is not a yield company.
El En SpA is an Italy-based company primarily engaged in the production of laser systems. It controls a group of companies active in the manufacture, research, development, distribution and sale of laser equipment.The Company's range of products includes laser systems for dermatology, surgery, cosmetics, physiotherapy, dentistry and gynaecology, laser systems for cutting, marking and welding of metals, wood, plastic and glass; decoration of leather and fabrics, conservative restoration of works of art. The Company also offers accessories, after-sale services and consulting in the related areas.
EL.EN. S.P.A. 
