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Elkem ASA
Buy, Hold or Sell?

Let's analyse Elkem together

PenkeI guess you are interested in Elkem ASA. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of Elkem ASA. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

You can find me behind Let's Analyse Together in the top-right of each section.

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Quick analysis of Elkem (30 sec.)










What can you expect buying and holding a share of Elkem? (30 sec.)

How much money do you get?

How much money do you get?
kr1.39
When do you have the money?
1 year
How often do you get paid?
70.4%

What is your share worth?

Current worth
kr39.62
Expected worth in 1 year
kr33.32
How sure are you?
81.5%

+ What do you gain per year?

Total Gains per Share
kr8.70
Return On Investment
40.8%

For what price can you sell your share?

Current Price per Share
kr21.32
Expected price per share
kr18.86 - kr23.74
How sure are you?
50%

1. Valuation of Elkem (5 min.)




Live pricePrice per Share (EOD)

kr21.32

Intrinsic Value Per Share

kr28.14 - kr32.46

Total Value Per Share

kr67.76 - kr72.08

2. Growth of Elkem (5 min.)




Is Elkem growing?

Current yearPrevious yearGrowGrow %
How rich?$2.3b$2.2b$279.7m11.0%

How much money is Elkem making?

Current yearPrevious yearGrowGrow %
Making money$33.6m$246.5m-$212.9m-633.0%
Net Profit Margin3.3%23.5%--

How much money comes from the company's main activities?

3. Financial Health of Elkem (5 min.)




4. Comparing to competitors in the Specialty Chemicals industry (5 min.)




  Industry Rankings (Specialty Chemicals)  


Richest
#62 / 565

Most Revenue
#82 / 565

Most Profit
#97 / 565

Most Efficient
#306 / 565

What can you expect buying and holding a share of Elkem? (5 min.)

Welcome investor! Elkem's management wants to use your money to grow the business. In return you get a share of Elkem.

What can you expect buying and holding a share of Elkem?

First you should know what it really means to hold a share of Elkem. And how you can make/lose money.

Speculation

The Price per Share of Elkem is kr21.32. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

  • The fundamentals: the financial health trends of Elkem.
  • The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
  • The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Elkem, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

  • You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is kr39.62. Based on the TTM, the Book Value Change Per Share is kr-1.57 per quarter. Based on the YOY, the Book Value Change Per Share is kr4.62 per quarter.
  • You may receive quarterly/yearly dividend in the form of additional shares.
  • You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is kr3.75 per quarter.
Based on historical numbers we can estimate the returns while holding a share of Elkem.

How much money are you going to get?

 MRQTTMYOY5Y10Y
 kr% of Price per Sharekr% of Price per Sharekr% of Price per Sharekr% of Price per Sharekr% of Price per Share
Usd Eps-0.07-0.3%0.050.2%0.391.8%0.120.6%0.110.5%
Usd Book Value Change Per Share-0.13-0.6%-0.15-0.7%0.432.0%0.090.4%0.140.6%
Usd Dividend Per Share0.562.6%0.351.6%0.211.0%0.150.7%0.120.6%
Usd Total Gains Per Share0.432.0%0.200.9%0.643.0%0.241.1%0.261.2%
Usd Price Per Share2.01-2.71-3.11-2.60-2.30-
Price to Earnings Ratio-7.53-28.63-2.05-10.97-8.80-
Price-to-Total Gains Ratio4.66-75.98-5.17-511.54-446.31-
Price to Book Ratio0.55-0.67-0.89-1.03-0.97-
Price-to-Total Gains Ratio4.66-75.98-5.17-511.54-446.31-

When do you get the money?

Usd Investment
$.00
Usd Price Per Share1.974232
Number of shares506
Gains per QuarterTrailing 12 Months5 Year
Usd Dividend Per Share0.350.15
Usd Book Value Change Per Share-0.150.09
Usd Total Gains Per Share0.200.24
Gains per Quarter (506 shares)101.95122.41
Gains per Year (506 shares)407.82489.65
YearsReturn on Investment (TTM)Return on Investment (5Y)
 DividendBook Value gainTotal gainsDividendBook Value gainTotal gains
Broker costs---10---10
1703-295398310179480
21405-590806621359970
32108-88512149315381460
42811-1179162212417171950
53513-1474203015528972440
64216-17692438186210762930
74919-20642846217212553420
85621-23593254248214353910
96324-26543662279316144400
107027-29494070310317934890

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %
 Trailing 12 Months3Y5 Year10 YearALLTIME
  % % % % %
Earnings Per Share3.01.00.075.0%11.01.00.091.7%17.03.00.085.0%23.04.00.085.2%23.04.00.085.2%
Book Value Change Per Share1.03.00.025.0%8.04.00.066.7%12.08.00.060.0%16.08.03.059.3%16.08.03.059.3%
Dividend per Share3.00.01.075.0%11.00.01.091.7%17.00.03.085.0%19.00.08.070.4%19.00.08.070.4%
Total Gains per Share4.00.00.0100.0%12.00.00.0100.0%18.02.00.090.0%22.02.03.081.5%22.02.03.081.5%

Fundamentals of Elkem

About Elkem ASA

Elkem ASA provides silicones, silicon products, and carbon solutions worldwide. The company offers silicones polymers, including chlorosilanes and silicone oils; silicone elastomers, comprising liquid silicone rubber, heat cured rubber, and RTV-1 and RTV-2 silicones; and silicone fluids, such as silicone resin, silicone compounds, silicone grease, and silicone emulsion. It also provides silicon based materials comprising silicon, silicon powder/micronized silicon, silica fume/ microsilica, ferrosilicon, grain refiner, silicon and boron carbide, ferrosilicon nitride, fused silica, polymer additives, and specialties for refractories. In addition, the company offers foundry alloys, such as foundry alloys, preconditioners, recarburizers, conditioners, nodularizers, inserts, and inoculants; and carbon based materials comprising furnace tapping materials, cathode ramming paste, furnace lining materials, electrode paste, and prebaked and other electrodes. The company was founded in 1904 and is headquartered in Oslo, Norway. Elkem ASA operates as a subsidiary of Bluestar Elkem International Co., Ltd. S.A.

Fundamental data was last updated by Penke on 2024-03-09 03:31:05.

Financial Health

Profitability Details
 Compared to previous yearCompared to industry
The company is making a profit.
Using its assets, the company is inefficient in making profit.
Using its investors money, the company is inefficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating less efficient.
The company is inefficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is able to pay all its short-term debts.
The company is just able to pay all its short-term debts with the most liquid assets.
Solvency Details
 Compared to previous yearCompared to industry
The company is very able to pay all its debts by selling its assets.
The company is very able to pay all its debts with equity.

Valuation

Valuation Details
 Compared to previous yearCompared to industry
Based on the equity, the company is cheap.
Based on the earnings, the company is overpriced.
Based on how much money comes from the company's main activities, the company is expensive.

1.1. Profitability of Elkem ASA.

1.1. Profitability
1.1.1. Net Profit Margin

Measures how much net profit Elkem earns for each kr1 of revenue.

  • Above 10% is considered healthy but always compare Elkem to the Specialty Chemicals industry mean.
  • A Net Profit Margin of -5.9% means that kr-0.06 for each kr1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Elkem ASA:

  • The MRQ is -5.9%. The company is making a loss. -1
  • The TTM is 3.3%. The company is making a profit. +1
Trends
Current periodCompared to+/- 
MRQ-5.9%TTM3.3%-9.2%
TTM3.3%YOY23.5%-20.1%
TTM3.3%5Y8.3%-5.0%
5Y8.3%10Y9.2%-0.9%
Compared to industry (Specialty Chemicals)
PeriodCompanyIndustry (mean)+/- 
MRQ-5.9%4.2%-10.1%
TTM3.3%4.2%-0.9%
YOY23.5%6.5%+17.0%
5Y8.3%6.0%+2.3%
10Y9.2%6.0%+3.2%
1.1.2. Return on Assets

Shows how efficient Elkem is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Elkem to the Specialty Chemicals industry mean.
  • -0.9% Return on Assets means that Elkem generated kr-0.01 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Elkem ASA:

  • The MRQ is -0.9%. Using its assets, the company is very inefficient in making profit. -2
  • The TTM is 0.7%. Using its assets, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ-0.9%TTM0.7%-1.5%
TTM0.7%YOY5.6%-4.9%
TTM0.7%5Y1.9%-1.2%
5Y1.9%10Y1.9%0.0%
Compared to industry (Specialty Chemicals)
PeriodCompanyIndustry (mean)+/- 
MRQ-0.9%1.1%-2.0%
TTM0.7%1.1%-0.4%
YOY5.6%1.7%+3.9%
5Y1.9%1.6%+0.3%
10Y1.9%1.7%+0.2%
1.1.3. Return on Equity

Shows how efficient Elkem is using its investors money to generate profit.

  • Above 15%-20% is considered healthy but always compare Elkem to the Specialty Chemicals industry mean.
  • -1.8% Return on Equity means Elkem generated kr-0.02 for each kr1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Elkem ASA:

  • The MRQ is -1.8%. Using its investors money, the company is very inefficient in making profit. -2
  • The TTM is 1.2%. Using its investors money, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ-1.8%TTM1.2%-3.0%
TTM1.2%YOY10.9%-9.7%
TTM1.2%5Y3.8%-2.6%
5Y3.8%10Y4.2%-0.4%
Compared to industry (Specialty Chemicals)
PeriodCompanyIndustry (mean)+/- 
MRQ-1.8%2.2%-4.0%
TTM1.2%2.0%-0.8%
YOY10.9%3.2%+7.7%
5Y3.8%2.8%+1.0%
10Y4.2%2.8%+1.4%

1.2. Operating Efficiency of Elkem ASA.

1.2. Operating Efficiency
1.2.1. Operating Margin

Measures how efficient Elkem is operating .

  • Measures how much profit Elkem makes for each kr1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compare Elkem to the Specialty Chemicals industry mean.
  • An Operating Margin of -2.8% means the company generated kr-0.03  for each kr1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Elkem ASA:

  • The MRQ is -2.8%. The company is operating very inefficient. -2
  • The TTM is 7.5%. The company is operating less efficient.
Trends
Current periodCompared to+/- 
MRQ-2.8%TTM7.5%-10.3%
TTM7.5%YOY30.0%-22.5%
TTM7.5%5Y12.1%-4.7%
5Y12.1%10Y12.4%-0.3%
Compared to industry (Specialty Chemicals)
PeriodCompanyIndustry (mean)+/- 
MRQ-2.8%7.5%-10.3%
TTM7.5%4.9%+2.6%
YOY30.0%8.3%+21.7%
5Y12.1%8.1%+4.0%
10Y12.4%7.3%+5.1%
1.2.2. Operating Ratio

Measures how efficient Elkem is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Specialty Chemicals industry mean).
  • An Operation Ratio of 1.63 means that the operating costs are kr1.63 for each kr1 in net sales.

Let's take a look of the Operating Ratio trends of Elkem ASA:

  • The MRQ is 1.631. The company is inefficient in keeping operating costs low. -1
  • The TTM is 1.546. The company is inefficient in keeping operating costs low. -1
Trends
Current periodCompared to+/- 
MRQ1.631TTM1.546+0.085
TTM1.546YOY1.185+0.360
TTM1.5465Y1.428+0.117
5Y1.42810Y1.402+0.026
Compared to industry (Specialty Chemicals)
PeriodCompanyIndustry (mean)+/- 
MRQ1.6311.529+0.102
TTM1.5461.530+0.016
YOY1.1851.459-0.274
5Y1.4281.459-0.031
10Y1.4021.228+0.174

1.3. Liquidity of Elkem ASA.

1.3. Liquidity
1.3.1. Current Ratio

Measures if Elkem is able to pay off Short-term Debt.

  • Above 1.5 is considered healthy (always compare to Specialty Chemicals industry mean).
  • A Current Ratio of 2.11 means the company has kr2.11 in assets for each kr1 in short-term debts.

Let's take a look of the Current Ratio trends of Elkem ASA:

  • The MRQ is 2.108. The company is able to pay all its short-term debts. +1
  • The TTM is 2.189. The company is able to pay all its short-term debts. +1
Trends
Current periodCompared to+/- 
MRQ2.108TTM2.189-0.081
TTM2.189YOY1.983+0.206
TTM2.1895Y1.966+0.223
5Y1.96610Y1.693+0.272
Compared to industry (Specialty Chemicals)
PeriodCompanyIndustry (mean)+/- 
MRQ2.1081.831+0.277
TTM2.1891.875+0.314
YOY1.9831.896+0.087
5Y1.9661.926+0.040
10Y1.6931.762-0.069
1.3.2. Quick Ratio

Measures if Elkem is able to pay off Short-term Debt but only using the most liquid assets.

  • Above 1 is considered healthy but always compare Elkem to the Specialty Chemicals industry mean.
  • A Quick Ratio of 1.02 means the company can pay off kr1.02 for each kr1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Elkem ASA:

  • The MRQ is 1.022. The company is just able to pay all its short-term debts with the most liquid assets.
  • The TTM is 1.152. The company is just able to pay all its short-term debts with the most liquid assets.
Trends
Current periodCompared to+/- 
MRQ1.022TTM1.152-0.130
TTM1.152YOY1.150+0.002
TTM1.1525Y1.060+0.092
5Y1.06010Y0.910+0.150
Compared to industry (Specialty Chemicals)
PeriodCompanyIndustry (mean)+/- 
MRQ1.0220.846+0.176
TTM1.1520.884+0.268
YOY1.1500.966+0.184
5Y1.0601.049+0.011
10Y0.9101.030-0.120

1.4. Solvency of Elkem ASA.

1.3. Liquidity
1.4.1. Debt to Asset Ratio

Measures how much % of Elkem assets are financed with debt.

  • Below 1 (100%) is considered healthy but always compare Elkem to Specialty Chemicals industry mean.
  • A Debt to Asset Ratio of 0.52 means that Elkem assets are financed with 52.1% credit (debt) and the remaining percentage (100% - 52.1%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of Elkem ASA:

  • The MRQ is 0.521. The company is able to pay all its debts by selling its assets. +1
  • The TTM is 0.489. The company is very able to pay all its debts by selling its assets. +2
Trends
Current periodCompared to+/- 
MRQ0.521TTM0.489+0.032
TTM0.489YOY0.4890.000
TTM0.4895Y0.537-0.049
5Y0.53710Y0.479+0.058
Compared to industry (Specialty Chemicals)
PeriodCompanyIndustry (mean)+/- 
MRQ0.5210.431+0.090
TTM0.4890.427+0.062
YOY0.4890.426+0.063
5Y0.5370.433+0.104
10Y0.4790.439+0.040
1.4.2. Debt to Equity Ratio

Measures if Elkem is able to pay off its debts by using shareholders equity.

  • Below 2 is considered healthy but always compare Elkem to the Specialty Chemicals industry mean.
  • A Debt to Equity ratio of 108.6% means that company has kr1.09 debt for each kr1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Elkem ASA:

  • The MRQ is 1.086. The company is able to pay all its debts with equity. +1
  • The TTM is 0.964. The company is very able to pay all its debts with equity. +2
Trends
Current periodCompared to+/- 
MRQ1.086TTM0.964+0.122
TTM0.964YOY0.965-0.001
TTM0.9645Y1.191-0.227
5Y1.19110Y1.069+0.123
Compared to industry (Specialty Chemicals)
PeriodCompanyIndustry (mean)+/- 
MRQ1.0860.767+0.319
TTM0.9640.752+0.212
YOY0.9650.747+0.218
5Y1.1910.797+0.394
10Y1.0690.845+0.224

2. Market Valuation of Elkem ASA

2.1. Earnings Per Share
2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every kr1 in earnings Elkem generates.

  • Above 15 is considered overpriced but always compare Elkem to the Specialty Chemicals industry mean.
  • A PE ratio of -7.53 means the investor is paying kr-7.53 for every kr1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Elkem ASA:

  • The EOD is -7.410. Based on the earnings, the company is expensive. -2
  • The MRQ is -7.535. Based on the earnings, the company is expensive. -2
  • The TTM is 28.632. Based on the earnings, the company is overpriced. -1
Trends
Current periodCompared to+/- 
EOD-7.410MRQ-7.535+0.125
MRQ-7.535TTM28.632-36.167
TTM28.632YOY2.048+26.584
TTM28.6325Y10.974+17.657
5Y10.97410Y8.803+2.171
Compared to industry (Specialty Chemicals)
PeriodCompanyIndustry (mean)+/- 
EOD-7.41015.198-22.608
MRQ-7.53513.988-21.523
TTM28.63215.705+12.927
YOY2.04817.841-15.793
5Y10.97419.498-8.524
10Y8.80323.951-15.148
2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Elkem ASA:

  • The EOD is -482.700. Based on how much money comes from the company's main activities, the company is expensive. -2
  • The MRQ is -490.851. Based on how much money comes from the company's main activities, the company is expensive. -2
  • The TTM is -129.479. Based on how much money comes from the company's main activities, the company is expensive. -2
Trends
Current periodCompared to+/- 
EOD-482.700MRQ-490.851+8.151
MRQ-490.851TTM-129.479-361.371
TTM-129.479YOY6.780-136.259
TTM-129.4795Y-25.165-104.314
5Y-25.16510Y-17.392-7.773
Compared to industry (Specialty Chemicals)
PeriodCompanyIndustry (mean)+/- 
EOD-482.7004.953-487.653
MRQ-490.8514.382-495.233
TTM-129.4792.275-131.754
YOY6.780-0.150+6.930
5Y-25.1653.098-28.263
10Y-17.3922.609-20.001
2. Book Value per Share
2.3. Price to Book Ratio

Measures if the stock price of Elkem is to cheap or to expensive compared to its book value.

  • At or below 1 is considered healthy (always compare to Specialty Chemicals industry mean).
  • A PB ratio of 0.55 means the investor is paying kr0.55 for each kr1 in book value.

Let's take a look of the Price to Book Ratio trends of Elkem ASA:

  • The EOD is 0.538. Based on the equity, the company is cheap. +2
  • The MRQ is 0.547. Based on the equity, the company is cheap. +2
  • The TTM is 0.672. Based on the equity, the company is cheap. +2
Trends
Current periodCompared to+/- 
EOD0.538MRQ0.547-0.009
MRQ0.547TTM0.672-0.124
TTM0.672YOY0.886-0.214
TTM0.6725Y1.026-0.354
5Y1.02610Y0.974+0.052
Compared to industry (Specialty Chemicals)
PeriodCompanyIndustry (mean)+/- 
EOD0.5381.735-1.197
MRQ0.5471.781-1.234
TTM0.6721.854-1.182
YOY0.8862.306-1.420
5Y1.0262.348-1.322
10Y0.9742.842-1.868
2. Total Gains per Share

3. Summary

3.1. Key Performance Indicators

The key performance indicators of Elkem ASA compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-5 Year+/-10 Year+/-
Book Value Change Per Share---1.369-1.573+15%4.616-130%0.957-243%1.467-193%
Book Value Per Share--39.61743.190-8%38.444+3%29.320+35%24.291+63%
Current Ratio--2.1082.189-4%1.983+6%1.966+7%1.693+24%
Debt To Asset Ratio--0.5210.489+7%0.489+7%0.537-3%0.479+9%
Debt To Equity Ratio--1.0860.964+13%0.965+13%1.191-9%1.069+2%
Dividend Per Share--6.0183.749+61%2.277+164%1.656+263%1.323+355%
Eps---0.7190.560-229%4.179-117%1.273-157%1.173-161%
Free Cash Flow Per Share---0.011-0.108+882%1.971-101%0.506-102%0.510-102%
Free Cash Flow To Equity Per Share---0.808-1.310+62%0.803-201%0.240-436%0.480-268%
Gross Profit Margin--1.0001.0000%1.0000%1.0000%1.0000%
Intrinsic Value_10Y_max--32.462--------
Intrinsic Value_10Y_min--28.142--------
Intrinsic Value_1Y_max--3.290--------
Intrinsic Value_1Y_min--3.232--------
Intrinsic Value_3Y_max--9.858--------
Intrinsic Value_3Y_min--9.411--------
Intrinsic Value_5Y_max--16.391--------
Intrinsic Value_5Y_min--15.216--------
Market Cap13515600117.760-2%13743818506.24018624441309.880-26%21333312889.220-36%17864780927.500-23%15788066524.738-13%
Net Profit Margin---0.0590.033-277%0.235-125%0.083-171%0.092-164%
Operating Margin---0.0280.075-138%0.300-109%0.121-123%0.124-123%
Operating Ratio--1.6311.546+6%1.185+38%1.428+14%1.402+16%
Pb Ratio0.538-2%0.5470.672-19%0.886-38%1.026-47%0.974-44%
Pe Ratio-7.410+2%-7.53528.632-126%2.048-468%10.974-169%8.803-186%
Price Per Share21.320-2%21.68029.285-26%33.555-35%28.130-23%24.867-13%
Price To Free Cash Flow Ratio-482.700+2%-490.851-129.479-74%6.780-7340%-25.165-95%-17.392-96%
Price To Total Gains Ratio4.586-2%4.66375.983-94%5.175-10%511.538-99%446.314-99%
Quick Ratio--1.0221.152-11%1.150-11%1.060-4%0.910+12%
Return On Assets---0.0090.007-233%0.056-116%0.019-147%0.019-147%
Return On Equity---0.0180.012-252%0.109-117%0.038-148%0.042-143%
Total Gains Per Share--4.6492.176+114%6.893-33%2.613+78%2.790+67%
Usd Book Value--2325649000.0002543212700.000-9%2263491250.000+3%1724614810.000+35%1428491711.896+63%
Usd Book Value Change Per Share---0.127-0.146+15%0.427-130%0.089-243%0.136-193%
Usd Book Value Per Share--3.6693.999-8%3.560+3%2.715+35%2.249+63%
Usd Dividend Per Share--0.5570.347+61%0.211+164%0.153+263%0.123+355%
Usd Eps---0.0670.052-229%0.387-117%0.118-157%0.109-161%
Usd Free Cash Flow---648200.000-6412550.000+889%116120400.000-101%29821830.000-102%30009759.985-102%
Usd Free Cash Flow Per Share---0.001-0.010+882%0.183-101%0.047-102%0.047-102%
Usd Free Cash Flow To Equity Per Share---0.075-0.121+62%0.074-201%0.022-436%0.044-268%
Usd Market Cap1251544570.905-2%1272677593.6781724623265.295-26%1975464773.542-36%1654278713.887-23%1461974960.191-13%
Usd Price Per Share1.974-2%2.0082.712-26%3.107-35%2.605-23%2.303-13%
Usd Profit---42133000.00033636950.000-225%246570650.000-117%75172680.000-156%69193333.378-161%
Usd Revenue--717187000.000850531000.000-16%1047190250.000-32%731053850.000-2%664620703.126+8%
Usd Total Gains Per Share--0.4310.201+114%0.638-33%0.242+78%0.258+67%
 EOD+2 -6MRQTTM+15 -20YOY+10 -255Y+14 -2110Y+14 -21

3.2. Fundamental Score

Let's check the fundamental score of Elkem ASA based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-15-7.410
Price to Book Ratio (EOD)Between0-10.538
Net Profit Margin (MRQ)Greater than0-0.059
Operating Margin (MRQ)Greater than0-0.028
Quick Ratio (MRQ)Greater than11.022
Current Ratio (MRQ)Greater than12.108
Debt to Asset Ratio (MRQ)Less than10.521
Debt to Equity Ratio (MRQ)Less than11.086
Return on Equity (MRQ)Greater than0.15-0.018
Return on Assets (MRQ)Greater than0.05-0.009
Total4/10 (40.0%)

3.3. Technical Score

Let's check the technical score of Elkem ASA based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5047.049
Ma 20Greater thanMa 5021.866
Ma 50Greater thanMa 10021.256
Ma 100Greater thanMa 20020.304
OpenGreater thanClose21.500
Total3/5 (60.0%)



Reversals in quarterly reports

I have detected a reversal (positive to negative, negative to positive) in the following values of the quarterly reports.

 2022-09-302022-12-312023-03-312023-06-302023-09-30
Income before Tax  3,884,000-2,706,0001,178,000207,0001,385,000-1,130,000255,000-593,000-338,000
Net Income  3,046,000-2,152,000894,00058,000952,000-890,00062,000-517,000-455,000
EBIT  3,879,000-2,650,0001,229,000289,0001,518,000-1,064,000454,000-671,000-217,000
Operating Income  3,879,000-2,650,0001,229,000289,0001,518,000-1,064,000454,000-671,000-217,000
Net Income from Continuing Operations  3,066,000-2,142,000924,00059,000983,000-922,00061,000-495,000-434,000
Net Income Applicable to Common Shares  3,046,000-2,152,000894,00058,000952,000-916,00036,000-492,000-456,000



Latest Balance Sheet

Balance Sheet of 2023-09-30. Currency in NOK. All numbers in thousands.

Summary
Total Assets52,399,000
Total Liabilities27,284,000
Total Stockholder Equity25,115,000
 As reported
Total Liabilities 27,284,000
Total Stockholder Equity+ 25,115,000
Total Assets = 52,399,000

Assets

Total Assets52,399,000
Total Current Assets23,718,000
Long-term Assets28,681,000
Total Current Assets
Cash And Cash Equivalents 7,905,000
Net Receivables 3,593,000
Inventory 9,587,000
Other Current Assets 2,633,000
Total Current Assets  (as reported)23,718,000
Total Current Assets  (calculated)23,718,000
+/-0
Long-term Assets
Property Plant Equipment 23,080,000
Goodwill 1,111,000
Intangible Assets 1,425,000
Other Assets 1,776,000
Long-term Assets  (as reported)28,681,000
Long-term Assets  (calculated)27,392,000
+/- 1,289,000

Liabilities & Shareholders' Equity

Total Current Liabilities11,252,000
Long-term Liabilities15,893,000
Total Stockholder Equity25,115,000
Total Current Liabilities
Short Long Term Debt 2,412,000
Accounts payable 4,982,000
Other Current Liabilities 1,216,000
Total Current Liabilities  (as reported)11,252,000
Total Current Liabilities  (calculated)8,610,000
+/- 2,642,000
Long-term Liabilities
Long term Debt Total 13,929,000
Capital Lease Obligations Min Short Term Debt572,000
Long-term Liabilities Other 250,000
Long-term Liabilities  (as reported)15,893,000
Long-term Liabilities  (calculated)14,751,000
+/- 1,142,000
Total Stockholder Equity
Retained Earnings 21,617,000
Other Stockholders Equity 3,498,000
Total Stockholder Equity (as reported)25,115,000
Total Stockholder Equity (calculated)25,115,000
+/-0
Other
Capital Stock3,497,000
Cash And Equivalents7,905,000
Cash and Short Term Investments 7,905,000
Common Stock Shares Outstanding 633,890
Liabilities and Stockholders Equity 52,399,000
Net Debt 7,972,000
Net Invested Capital 40,991,000
Net Working Capital 12,464,000
Property Plant and Equipment Gross 46,600,000



Balance Sheet

Currency in NOK. All numbers in thousands.

 Trend2023-09-302023-06-302023-03-312022-12-312022-09-302022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-06-302020-03-312019-12-312019-09-302019-06-302019-03-312018-12-312018-09-302018-06-302018-03-312017-12-312017-09-302017-06-302017-03-312016-12-312015-12-312014-12-31
> Total Assets 
15,453,419
14,476,853
14,813,342
0
0
0
16,347,935
27,725,000
27,969,000
27,102,000
31,130,000
30,868,000
28,867,000
29,447,000
29,003,000
32,731,000
32,373,000
31,713,000
30,888,000
32,561,000
35,129,000
38,477,000
41,850,000
45,051,000
49,732,000
53,771,000
52,781,000
56,862,000
52,649,000
52,399,000
52,399,00052,649,00056,862,00052,781,00053,771,00049,732,00045,051,00041,850,00038,477,00035,129,00032,561,00030,888,00031,713,00032,373,00032,731,00029,003,00029,447,00028,867,00030,868,00031,130,00027,102,00027,969,00027,725,00016,347,93500014,813,34214,476,85315,453,419
   > Total Current Assets 
0
0
0
0
0
0
7,957,717
14,057,000
14,231,000
13,573,000
16,656,000
16,190,000
14,261,000
14,269,000
13,311,000
14,998,000
14,355,000
13,614,000
12,873,000
14,700,000
16,928,000
19,311,000
21,497,000
23,476,000
26,389,000
28,915,000
26,645,000
29,432,000
23,885,000
23,718,000
23,718,00023,885,00029,432,00026,645,00028,915,00026,389,00023,476,00021,497,00019,311,00016,928,00014,700,00012,873,00013,614,00014,355,00014,998,00013,311,00014,269,00014,261,00016,190,00016,656,00013,573,00014,231,00014,057,0007,957,717000000
       Cash And Cash Equivalents 
0
0
0
0
0
0
1,493,279
4,621,000
4,306,000
3,858,000
7,082,000
6,832,000
5,365,000
5,071,000
4,496,000
4,744,000
3,900,000
3,197,000
3,154,000
4,183,000
5,998,000
7,176,000
7,040,000
8,127,000
8,055,000
9,750,000
9,255,000
11,138,000
6,609,000
7,905,000
7,905,0006,609,00011,138,0009,255,0009,750,0008,055,0008,127,0007,040,0007,176,0005,998,0004,183,0003,154,0003,197,0003,900,0004,744,0004,496,0005,071,0005,365,0006,832,0007,082,0003,858,0004,306,0004,621,0001,493,279000000
       Net Receivables 
2,615,589
2,549,044
2,398,891
0
0
0
2,740,125
3,115,000
3,149,000
2,904,000
2,602,000
2,619,000
2,240,000
2,483,000
2,839,000
2,823,000
2,588,000
2,706,000
3,471,000
3,324,000
3,408,000
3,957,000
5,183,000
5,792,000
7,301,000
6,918,000
7,052,000
5,379,000
4,886,000
3,593,000
3,593,0004,886,0005,379,0007,052,0006,918,0007,301,0005,792,0005,183,0003,957,0003,408,0003,324,0003,471,0002,706,0002,588,0002,823,0002,839,0002,483,0002,240,0002,619,0002,602,0002,904,0003,149,0003,115,0002,740,1250002,398,8912,549,0442,615,589
       Other Current Assets 
79,761
85,035
129,152
0
0
0
2,903,431
5,005,000
5,192,000
4,562,000
4,107,000
3,947,000
3,610,000
3,918,000
3,591,000
4,387,000
4,340,000
4,626,000
4,478,000
5,194,000
5,403,000
6,115,000
6,741,000
1,702,000
2,082,000
2,173,000
13,000
2,227,000
1,989,000
2,633,000
2,633,0001,989,0002,227,00013,0002,173,0002,082,0001,702,0006,741,0006,115,0005,403,0005,194,0004,478,0004,626,0004,340,0004,387,0003,591,0003,918,0003,610,0003,947,0004,107,0004,562,0005,192,0005,005,0002,903,431000129,15285,03579,761
   > Long-term Assets 
0
0
0
0
0
0
8,390,218
13,668,000
13,738,000
13,529,000
14,474,000
14,678,000
14,606,000
15,178,000
15,692,000
17,733,000
18,018,000
18,099,000
18,015,000
17,861,000
18,201,000
19,166,000
20,353,000
21,574,000
23,343,000
24,857,000
26,136,000
27,431,000
28,763,000
28,681,000
28,681,00028,763,00027,431,00026,136,00024,857,00023,343,00021,574,00020,353,00019,166,00018,201,00017,861,00018,015,00018,099,00018,018,00017,733,00015,692,00015,178,00014,606,00014,678,00014,474,00013,529,00013,738,00013,668,0008,390,218000000
       Property Plant Equipment 
5,183,162
5,602,208
5,909,087
0
0
0
6,568,934
11,811,000
11,813,000
11,620,000
12,446,000
12,964,000
12,919,000
13,339,000
13,782,000
15,496,000
15,057,000
15,162,000
15,007,000
14,846,000
14,980,000
15,591,000
16,762,000
17,586,000
18,560,000
19,257,000
20,399,000
21,959,000
22,747,000
23,080,000
23,080,00022,747,00021,959,00020,399,00019,257,00018,560,00017,586,00016,762,00015,591,00014,980,00014,846,00015,007,00015,162,00015,057,00015,496,00013,782,00013,339,00012,919,00012,964,00012,446,00011,620,00011,813,00011,811,0006,568,9340005,909,0875,602,2085,183,162
       Goodwill 
229,470
244,088
342,645
0
0
0
326,323
335,000
332,000
328,000
342,000
338,000
337,000
515,000
466,000
521,000
1,429,000
1,439,000
919,000
909,000
923,000
932,000
941,000
934,000
1,002,000
1,030,000
984,000
1,039,000
1,130,000
1,111,000
1,111,0001,130,0001,039,000984,0001,030,0001,002,000934,000941,000932,000923,000909,000919,0001,439,0001,429,000521,000466,000515,000337,000338,000342,000328,000332,000335,000326,323000342,645244,088229,470
       Long Term Investments 
0
0
0
0
0
0
0
0
158,000
158,000
186,000
136,000
121,000
134,000
190,000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
000000000000000190,000134,000121,000136,000186,000158,000158,00000000000
       Intangible Assets 
803,553
887,581
1,035,658
0
0
0
719,350
903,000
898,000
889,000
922,000
709,000
699,000
716,000
776,000
882,000
867,000
885,000
1,320,000
1,330,000
1,476,000
1,529,000
1,603,000
1,661,000
1,420,000
1,443,000
1,386,000
1,451,000
1,473,000
1,425,000
1,425,0001,473,0001,451,0001,386,0001,443,0001,420,0001,661,0001,603,0001,529,0001,476,0001,330,0001,320,000885,000867,000882,000776,000716,000699,000709,000922,000889,000898,000903,000719,3500001,035,658887,581803,553
       Long-term Assets Other 
0
0
0
0
0
0
686,027
579,000
602,000
650,000
704,000
609,000
593,000
549,000
602,000
539,000
534,000
492,000
673,000
687,000
733,000
1,022,000
999,000
1,294,000
2,255,000
3,019,000
3,216,000
2,820,000
725,000
621,000
621,000725,0002,820,0003,216,0003,019,0002,255,0001,294,000999,0001,022,000733,000687,000673,000492,000534,000539,000602,000549,000593,000609,000704,000650,000602,000579,000686,027000000
> Total Liabilities 
9,778,002
8,158,095
7,354,300
0
0
0
8,015,073
17,192,000
15,790,000
14,119,000
17,406,000
16,721,000
16,229,000
16,403,000
16,052,000
19,488,000
19,621,000
18,989,000
18,252,000
19,122,000
19,085,000
20,965,000
21,975,000
22,197,000
23,862,000
24,595,000
24,007,000
27,001,000
26,541,000
27,284,000
27,284,00026,541,00027,001,00024,007,00024,595,00023,862,00022,197,00021,975,00020,965,00019,085,00019,122,00018,252,00018,989,00019,621,00019,488,00016,052,00016,403,00016,229,00016,721,00017,406,00014,119,00015,790,00017,192,0008,015,0730007,354,3008,158,0959,778,002
   > Total Current Liabilities 
7,189,193
3,551,643
2,955,080
0
0
0
4,014,890
9,836,000
9,957,000
8,691,000
8,824,000
7,093,000
6,651,000
6,564,000
6,516,000
8,226,000
8,468,000
7,703,000
9,471,000
9,210,000
9,166,000
9,627,000
12,252,000
12,235,000
12,845,000
13,113,000
11,833,000
12,190,000
12,057,000
11,252,000
11,252,00012,057,00012,190,00011,833,00013,113,00012,845,00012,235,00012,252,0009,627,0009,166,0009,210,0009,471,0007,703,0008,468,0008,226,0006,516,0006,564,0006,651,0007,093,0008,824,0008,691,0009,957,0009,836,0004,014,8900002,955,0803,551,6437,189,193
       Short-term Debt 
0
0
0
0
0
0
661,189
2,567,000
2,747,000
2,367,000
2,052,000
1,188,000
1,219,000
1,161,000
1,263,000
1,255,000
1,609,000
1,314,000
3,293,000
2,690,000
2,334,000
1,965,000
1,972,000
4,023,000
3,324,000
3,366,000
1,946,000
2,347,000
2,886,000
0
02,886,0002,347,0001,946,0003,366,0003,324,0004,023,0001,972,0001,965,0002,334,0002,690,0003,293,0001,314,0001,609,0001,255,0001,263,0001,161,0001,219,0001,188,0002,052,0002,367,0002,747,0002,567,000661,189000000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
2,746,000
2,365,000
2,052,000
2,380,000
2,283,000
2,303,000
2,065,000
2,353,000
2,880,000
2,491,000
4,249,000
2,583,000
2,226,000
1,853,000
1,856,000
1,641,000
3,218,000
3,273,000
1,843,000
2,228,000
2,774,000
2,412,000
2,412,0002,774,0002,228,0001,843,0003,273,0003,218,0001,641,0001,856,0001,853,0002,226,0002,583,0004,249,0002,491,0002,880,0002,353,0002,065,0002,303,0002,283,0002,380,0002,052,0002,365,0002,746,00000000000
       Accounts payable 
1,334,169
1,448,578
1,527,587
0
0
0
1,836,888
5,272,000
5,239,000
4,301,000
4,471,000
4,102,000
3,805,000
3,828,000
3,654,000
4,592,000
4,539,000
4,391,000
4,210,000
4,648,000
4,736,000
4,856,000
6,710,000
4,290,000
4,642,000
4,354,000
5,335,000
5,340,000
5,149,000
4,982,000
4,982,0005,149,0005,340,0005,335,0004,354,0004,642,0004,290,0006,710,0004,856,0004,736,0004,648,0004,210,0004,391,0004,539,0004,592,0003,654,0003,828,0003,805,0004,102,0004,471,0004,301,0005,239,0005,272,0001,836,8880001,527,5871,448,5781,334,169
       Other Current Liabilities 
1,310,216
1,775,084
1,149,523
0
0
0
1,378,145
1,800,000
1,673,000
1,635,000
1,598,000
1,452,000
1,365,000
1,323,000
1,387,000
2,355,000
2,273,000
1,954,000
1,697,000
1,711,000
1,835,000
2,271,000
3,570,000
3,922,000
4,879,000
5,393,000
4,552,000
4,503,000
1,280,000
1,216,000
1,216,0001,280,0004,503,0004,552,0005,393,0004,879,0003,922,0003,570,0002,271,0001,835,0001,711,0001,697,0001,954,0002,273,0002,355,0001,387,0001,323,0001,365,0001,452,0001,598,0001,635,0001,673,0001,800,0001,378,1450001,149,5231,775,0841,310,216
   > Long-term Liabilities 
0
0
0
0
0
0
4,000,183
7,356,000
5,833,000
5,428,000
8,582,000
9,628,000
9,578,000
9,839,000
9,536,000
11,262,000
11,153,000
11,286,000
8,781,000
9,912,000
9,919,000
11,338,000
9,723,000
9,962,000
11,017,000
11,482,000
12,174,000
14,811,000
14,484,000
15,893,000
15,893,00014,484,00014,811,00012,174,00011,482,00011,017,0009,962,0009,723,00011,338,0009,919,0009,912,0008,781,00011,286,00011,153,00011,262,0009,536,0009,839,0009,578,0009,628,0008,582,0005,428,0005,833,0007,356,0004,000,183000000
       Long term Debt Total 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
7,189,000
8,332,000
8,411,000
9,778,000
8,409,000
8,508,000
9,274,000
9,718,000
10,331,000
12,936,000
12,380,000
13,929,000
13,929,00012,380,00012,936,00010,331,0009,718,0009,274,0008,508,0008,409,0009,778,0008,411,0008,332,0007,189,000000000000000000000
       Capital Lease Obligations Min Short Term Debt
0
0
0
0
0
0
-661,189
-2,567,000
-2,747,000
-2,367,000
-2,052,000
-819,000
-854,000
-796,000
-855,000
-804,000
-1,066,000
-777,000
-2,630,000
-2,029,000
-1,664,000
-1,177,000
-1,171,000
-3,231,000
-2,772,000
-2,829,000
-1,368,000
-1,736,000
-2,301,000
572,000
572,000-2,301,000-1,736,000-1,368,000-2,829,000-2,772,000-3,231,000-1,171,000-1,177,000-1,664,000-2,029,000-2,630,000-777,000-1,066,000-804,000-855,000-796,000-854,000-819,000-2,052,000-2,367,000-2,747,000-2,567,000-661,189000000
       Long-term Liabilities Other 
0
0
0
0
0
0
0
0
0
0
0
0
0
1,000
18,000
-1,000
-1,000
1,000
183,000
1,000
1,000
-1,000
38,000
-1,000
-1,000
266,000
-1,000
245,000
257,000
250,000
250,000257,000245,000-1,000266,000-1,000-1,00038,000-1,0001,0001,000183,0001,000-1,000-1,00018,0001,0000000000000000
       Deferred Long Term Liability 
0
0
0
0
0
0
0
0
247,000
0
227,000
0
240,000
0
257,000
0
286,000
0
227,000
0
495,000
0
256,000
0
283,000
0
274,000
0
0
0
000274,0000283,0000256,0000495,0000227,0000286,0000257,0000240,0000227,0000247,00000000000
> Total Stockholder Equity
5,579,544
6,195,539
7,371,489
7,459,042
0
0
8,231,305
10,428,000
12,076,000
12,872,000
13,622,000
14,062,000
12,555,000
12,943,000
12,856,000
13,121,000
12,640,000
12,605,000
12,528,000
13,339,000
15,962,000
17,420,000
19,789,000
22,758,000
25,746,000
29,066,000
28,640,000
29,711,000
25,960,000
25,115,000
25,115,00025,960,00029,711,00028,640,00029,066,00025,746,00022,758,00019,789,00017,420,00015,962,00013,339,00012,528,00012,605,00012,640,00013,121,00012,856,00012,943,00012,555,00014,062,00013,622,00012,872,00012,076,00010,428,0008,231,305007,459,0427,371,4896,195,5395,579,544
   Common Stock
2,010,000
2,010,000
3,088,203
0
0
0
2,918,203
8,096,000
8,096,000
8,097,000
8,102,000
8,107,000
6,602,000
6,610,000
6,616,000
6,623,000
6,281,000
6,288,000
6,296,000
6,338,000
8,110,000
8,084,000
8,097,000
8,107,000
6,217,000
6,219,000
6,228,000
6,237,000
3,505,000
0
03,505,0006,237,0006,228,0006,219,0006,217,0008,107,0008,097,0008,084,0008,110,0006,338,0006,296,0006,288,0006,281,0006,623,0006,616,0006,610,0006,602,0008,107,0008,102,0008,097,0008,096,0008,096,0002,918,2030003,088,2032,010,0002,010,000
   Retained Earnings Total Equity000000000000000000000000000000
   Accumulated Other Comprehensive Income 000000000-18,694,000-17,964,000-17,896,000-18,419,000-17,991,000-18,431,000-16,358,000-16,233,000-15,698,000-15,770,000-15,438,000-14,842,000-14,854,0000-8,821,898000000
   Capital Surplus 000000000000000000000000000000
   Treasury Stock000000000000000000000000000000
   Other Stockholders Equity 
0
0
0
0
0
0
8,821,898
0
14,854,000
14,842,000
15,438,000
15,770,000
15,698,000
16,233,000
16,358,000
18,431,000
17,991,000
18,419,000
17,896,000
17,964,000
18,694,000
8,084,000
1,621,000
8,106,000
6,217,000
6,219,000
6,227,000
6,237,000
3,506,000
3,498,000
3,498,0003,506,0006,237,0006,227,0006,219,0006,217,0008,106,0001,621,0008,084,00018,694,00017,964,00017,896,00018,419,00017,991,00018,431,00016,358,00016,233,00015,698,00015,770,00015,438,00014,842,00014,854,00008,821,898000000



Balance Sheet

Currency in NOK. All numbers in thousands.




Cash Flow

Currency in NOK. All numbers in thousands.




Income Statement

Currency in NOK. All numbers in thousands.


Latest Income Statement (annual, 2023-12-31)

Gross Profit (+$)
totalRevenue36,518,000
Cost of Revenue-22,357,000
Gross Profit14,161,00014,161,000
 
Operating Income (+$)
Gross Profit14,161,000
Operating Expense-34,075,000
Operating Income2,443,000-19,914,000
 
Operating Expense (+$)
Research Development-
Selling General Administrative-
Selling And Marketing Expenses-
Operating Expense34,075,0000
 
Net Interest Income (+$)
Interest Income12,000
Interest Expense-788,000
Other Finance Cost-5,000
Net Interest Income-781,000
 
Pretax Income (+$)
Operating Income2,443,000
Net Interest Income-781,000
Other Non-Operating Income Expenses-
Income Before Tax (EBT)2,480,0002,443,000
EBIT - interestExpense = -788,000
1,427,000
2,215,000
Interest Expense788,000
Earnings Before Interest and Taxes (EBIT)-3,268,000
Earnings Before Interest and Taxes (EBITDA)-
 
After tax Income (+$)
Income Before Tax2,480,000
Tax Provision-945,000
Net Income From Continuing Ops1,534,0001,535,000
Net Income1,427,000
Net Income Applicable To Common Shares-
 
Non-recurring Events
Discontinued Operations-
Extraordinary Items-
Effect of Accounting Charges-
Other Items-
Non Recurring-
Other Operating Expenses-
Total Other Income/Expenses Net-781,000
 

Technical Analysis of Elkem
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Elkem. The general trend of Elkem is BULLISH with 42.9% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Elkem's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitionsBullish trend (42.9%) Bearish trend (-42.9%)
Overbought to neutralBullish pullback=Bearish reversal
Upper to lower neutralBullish correction=Bearish continuation
Nuetral to oversoldOversold=Oversold
Oversold to neutralBullish reversal=Bearish correction
Lower to upper neutralBullish continuation=Bearish pullback
Nuetral to overboughtOverbought=Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.


Score

Let's take a look at the Support & Resistance of Elkem ASA.

The long score for the Support & Resistance is 1/1.
The longshort score for the Support & Resistance is 1/(-1 +1).

  • Around support: The price is currently trading around a support level. This can be considered as a potential entry level. +1

The bullish price targets are: 22.74 < 22.92 < 23.74.

The bearish price targets are: 21.16 > 19.03 > 18.86.

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Elkem ASA Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

  • Moving averages are lagging trend indicators.
  • There are many types of moving averages.
  • Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of Elkem ASA. The current mas is .

The long score for the Moving Averages is 10/14.
The longshort score for the Moving Averages is 6/(-14 +14).

  • MA 20 trending up: The MA 20 is trending up. +1
  • Close < MA 20: The price is below the MA 20. -1
  • MA 20 > MA 50: The MA 20 is higher than the MA 50. +1
  • MA 20 > MA 100: The MA 20 is higher than the MA 100. +1
  • MA 20 > MA 200: The MA 20 is higher than the MA 200. +1
  • MA 50 trending down: The MA 50 is trending down. -1
  • Close > MA 50: The price is above the MA 50. +1
  • MA 50 > MA 100: The MA 50 is higher than the MA 100. +1
  • MA 50 > MA 200: The MA 50 is higher than the MA 200. +1
  • MA 100 trending up: The MA 100 is trending up. +1
  • Close > MA 100: The price is above the MA 100. +1
  • MA 100 < MA 200: The MA 100 is lower than the MA 200. -1
  • MA 200 trending down: The MA 200 is trending down. -1
  • Close > MA 200: The price is above the MA 200. +1

Directionalities and relatives.

Moving AverageAmount of candlesTrendPrice +/-vs. MA 50vs. MA 100vs. MA 200
MA 2020
MA 5050-
MA 100100--
MA 200200---

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Elkem ASA Daily Moving Averages Chart
2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

  • MACD is a lagging momentum indicator.
  • Uses two moving averages.
  • Can show buy or sell signals based on momentum.
  • Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of Elkem ASA. The current macd is 0.19586935.

The long score for the Moving Average Convergence/Divergence (MACD) is 1/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is -2/(-4 +4).

  • MACD line < signal line: The MACD line is below the signal line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Elkem price going down in the near term. -2
  • MACD > 0: The MACD is above the zero line (centerline), it indicates a bullish signal for Elkem. This means that the short-term moving average is higher than the long-term moving average, signaling positive momentum and suggesting a higher likelihood of the Elkem price continuing to rise in the near future. It indicates that buyers are gaining control, and there is optimism in the market, leading to potential price increases. +1
  • Trending down: The MACD line is trending down. This indicates that the short-term moving average is falling faster than the long-term moving average, suggesting negative momentum in the market. This signals that sellers are becoming more active and insecure, leading to potential price decreases as traders anticipate further losses and are willing to sell at lower prices. -1
Elkem ASA Daily Moving Average Convergence/Divergence (MACD) ChartElkem ASA Daily Moving Average Convergence/Divergence (MACD) Chart
2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.


Score

Let's take a look at the Directional Movement Index (DMI) of Elkem ASA. The current adx is 15.89.

The long score for the Directional Movement Index (DMI) is 0/7.
The longshort score for the Directional Movement Index (DMI) is -2/(-7 +7).

  • PLUS_ID < MINUS_DI: The +DI line is below the -DI line. This indicates a bearish signal in the market, as the negative directional movement is currently stronger than the positive directional movement, showing that sellers have the upper hand. Market psychology suggests that traders are pessimistic, expecting further price decreases, and are more willing to sell Elkem shares, leading to potential downward momentum in its price. -1
  • PLUS_ID < MINUS_DI && ADX < 25 && ADX trending up: The ADX is below 25 and indicates a weak or no trend. However, the ADX is rising and a new bearish trend could be forming. -1
Elkem ASA Daily Directional Movement Index (DMI) Chart
2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

  • Parabolic SAR (stop and reverse) is a lagging trend indicator.
  • Shows the current trend.
  • Shows potential entry signals.
  • Shows  potential exit signals.
  • Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of Elkem ASA. The current sar is 22.63.

The long score for the Parabolic SAR is 0/1.
The longshort score for the Parabolic SAR is -1/(-1 +1).

  • Close < SAR: The price is below the SAR. It's generally considered a bearish signal. -1
Elkem ASA Daily Parabolic SAR Chart

3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

  • Leading momentum indicator, meaning the signals are instant.
  • Ranges between 0 and 100.
  • Above 70 is considered overbought.
  • Below 30 is considered oversold.
  • Above or below 50 can also be used to determine price trend or support and resistance.
  • RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
  • Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of Elkem ASA. The current rsi is 47.05. The current phase is Correction in bull market.

The long score for the Relative Strength Index (RSI) is 0/13.
The longshort score for the Relative Strength Index (RSI) is -4/(-13 +13).

  • Correction in bull market: Moderate price decline, potential pause in the uptrend. Reassess the market, wait for signs of stabilization.
  • Trending down: The RSI is trending down. -1
Elkem ASA Daily Relative Strength Index (RSI) ChartElkem ASA Daily Relative Strength Index (RSI) Chart
3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

  • Leading momentum indicator, meaning the signals are instant.
  • Used to determine overbought and oversold areas much like the RSI.
  • Ranges between 0 and 100.
  • Above 80 is considered overbought.
  • Below 20 is considered oversold.
  • Consists of two lines named K and D.
  • K compares the highest high and lowest low on the selected price range.
  • The D line is a moving average of the K line.
  • Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of Elkem ASA. The current phase is Oversold in bull market.

The long score for the Stochastic Oscillator is 0/6.
The longshort score for the Stochastic Oscillator is -6/(-6 +6).

  • STOCH < 50: The STOCH %K is below 50. There are more sellers than buyers. -1
  • STOCH < 20: The STOCH %K is below 20 and oversold. -2
  • STOCH %K line < STOCH %D line: The STOCH %K line is below the STOCH %D line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Elkem price going down in the near term. -2
  • Trending down: The STOCH %K is trending down. -1
Elkem ASA Daily Stochastic Oscillator ChartElkem ASA Daily Stochastic Oscillator Chart
3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

  • Lagging or leading Momentum indicator
  • When the CCI is above zero, the price is above the historical average
  • When the CCI is below zero, the price is below the historical average
  • Used for spotting trends
    • If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
    • If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of Elkem ASA. The current cci is -107.31973904.

The long score for the Commodity Channel Index (CCI) is 0/1.
The longshort score for the Commodity Channel Index (CCI) is -1/(-1 +1).

  • CCI < -100: The CCI is below -100, it indicates that the price is significantly below its average, suggesting a potential oversold condition. -1
Elkem ASA Daily Commodity Channel Index (CCI) ChartElkem ASA Daily Commodity Channel Index (CCI) Chart
3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

  • Lagging momentum indicator
  • Ranges between +100 and -100
  • Considered overbought above +50
  • Considered oversold below -50
  • It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of Elkem ASA. The current cmo is -21.52690051.

The long score for the Chande Momentum Oscillator (CMO) is 0/1.
The longshort score for the Chande Momentum Oscillator (CMO) is -1/(-1 +1).

  • CMO < 0: The CMO is below 0, the momentum of the price is negative, indicating a potential downtrend in the price. -1
Elkem ASA Daily Chande Momentum Oscillator (CMO) ChartElkem ASA Daily Chande Momentum Oscillator (CMO) Chart
3.5 Williams %R

 Shows the current price relative to the highest high over the last 14 days.
 

  • Lagging momentum indicator
  • Ranging between 0 and -100
  • Above -20 is considered overbought
  • Below -80 is considered oversold
  • Is prone to give false signals

Score

Let's take a look at the Williams %R of Elkem ASA. The current willr is -90.90909091.

The long score for the Williams %R is 0/1.
The longshort score for the Williams %R is -1/(-1 +1).

  • WILLR < -80: The Williams %R is below -80. This indicates that the price is in oversold territory, suggesting a potential price correction or trend reversal to the upside. -1
Elkem ASA Daily Williams %R ChartElkem ASA Daily Williams %R Chart

4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

  • Lagging volatility indicator
  • Uses 3 bands: one upper, one lower and one in the middle
  • Works best when the middle band reflects an intermediate trend (MA20).
  • When the price is moving closer to the upper band, the market might be overbought
  • When the price is moving closer to the lower band, the market might be oversold 

Score

Let's take a look at the Bollinger Bands of Elkem ASA.

Elkem ASA Daily Bollinger Bands Chart
4.2 Average True Range (ATR)
Measures market volatility
  • Leading volatility indicator
  • Can be used to determine stop-loss positions
  • Calculated by:
    • Current high minus the current low
    • Current high minus the previous close
    • Current low minus the previous close
  • The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of Elkem ASA. The current atr is 0.60435113.

Elkem ASA Daily Average True Range (ATR) ChartElkem ASA Daily Average True Range (ATR) Chart

5. Volume Indicators

5.1 On-Balance Volume (OBV)

 Measures market volatility

  • Leading momentum indicator
  • Calculation:
    • If the closing price is above the previous closing price: OBV = previous OBV + current volume
    • If the closing price is below the previous closing price: OBV = previous OBV - current volume
    • If the closing price is the same as the previous closing price than the OBV is the same.
  • Can be used to confirm price trends
  • Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of Elkem ASA. The current obv is -1,597,220.

Elkem ASA Daily On-Balance Volume (OBV) ChartElkem ASA Daily On-Balance Volume (OBV) Chart
5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

  • Lagging momentum indicator
  • Looks like RSI but uses volume as an extra metric (RSI only considers price)
  • Above 80 is considered overbought
  • Below 20 is considered oversold
  • Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of Elkem ASA. The current mfi is 41.36.

The long score for the Money Flow Index (MFI) is 0/2.
The longshort score for the Money Flow Index (MFI) is -1/(-2 +2).

  • MFI < 50: -1
Elkem ASA Daily Money Flow Index (MFI) ChartElkem ASA Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

TypeNotificationDate
PenkeCurrently no notifications for Elkem ASA.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

DateIndicatorSignal
2023-11-08CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2023-11-10STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2023-11-14DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2023-11-15CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2023-11-16STOCH LONG EXITThe %K line crosses below the %D line.
2023-11-17STOCH SHORT EXITThe %K line crosses above the %D line.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2023-11-21STOCH LONG EXITThe %K line crosses below the %D line.
2023-11-22SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2023-11-23STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2023-11-24CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2023-11-27STOCH LONG EXITThe %K line crosses below the %D line.
2023-11-28DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2023-11-30MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
2023-12-01STOCH SHORT EXITThe %K line crosses above the %D line.
2023-12-04STOCH LONG EXITThe %K line crosses below the %D line.
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2023-12-05STOCH SHORT EXITThe %K line crosses above the %D line.
2023-12-07STOCH LONG EXITThe %K line crosses below the %D line.
2023-12-08STOCH SHORT EXITThe %K line crosses above the %D line.
2023-12-11MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
2023-12-12DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
2023-12-13CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2023-12-14CCI LONG ENTRY SHORT CLOSE100 crossover to upside
BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2023-12-15STOCH LONG EXITThe %K line crosses below the %D line.
2023-12-18STOCH SHORT EXITThe %K line crosses above the %D line.
2023-12-20RSI SHORT ENTRY LONG CLOSE70 crossover to downside
STOCH LONG EXITThe %K line crosses below the %D line.
2023-12-22STOCH SHORT EXITThe %K line crosses above the %D line.
2023-12-27ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2023-12-28STOCH LONG EXITThe %K line crosses below the %D line.
2023-12-29STOCH SHORT EXITThe %K line crosses above the %D line.
2024-01-02RSI SHORT ENTRY LONG CLOSE70 crossover to downside
STOCH LONG EXITThe %K line crosses below the %D line.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2024-01-03SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2024-01-04STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-01-08SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-01-09BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-01-10RSI SHORT ENTRY LONG CLOSE70 crossover to downside
STOCH LONG EXITThe %K line crosses below the %D line.
2024-01-11STOCH SHORT EXITThe %K line crosses above the %D line.
BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-01-15RSI SHORT ENTRY LONG CLOSE70 crossover to downside
STOCH LONG EXITThe %K line crosses below the %D line.
2024-01-16WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2024-01-17ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2024-01-18MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2024-01-19SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2024-01-22STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2024-01-23ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-01-25STOCH LONG EXITThe %K line crosses below the %D line.
2024-01-26STOCH SHORT EXITThe %K line crosses above the %D line.
2024-01-29STOCH LONG EXITThe %K line crosses below the %D line.
2024-01-30CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2024-02-01STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2024-02-02STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2024-02-06STOCH SHORT EXITThe %K line crosses above the %D line.
2024-02-07DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
STOCH LONG EXITThe %K line crosses below the %D line.
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2024-02-08CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
BB LONG ENTRY SHORT CLOSEPrice closed below the lower band.
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2024-02-09STOCH SHORT EXITThe %K line crosses above the %D line.
2024-02-13STOCH LONG EXITThe %K line crosses below the %D line.
BB LONG ENTRY SHORT CLOSEPrice closed below the lower band.
2024-02-14WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2024-02-16STOCH SHORT EXITThe %K line crosses above the %D line.
2024-02-19WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2024-02-20STOCH LONG EXITThe %K line crosses below the %D line.
2024-02-22STOCH SHORT EXITThe %K line crosses above the %D line.
2024-02-23STOCH LONG EXITThe %K line crosses below the %D line.
2024-02-27STOCH SHORT EXITThe %K line crosses above the %D line.
2024-02-28CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2024-02-29MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-03-01CCI LONG ENTRY SHORT CLOSE100 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-03-04STOCH LONG EXITThe %K line crosses below the %D line.
2024-03-07STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2024-03-11STOCH LONG EXITThe %K line crosses below the %D line.
2024-03-12STOCH SHORT EXITThe %K line crosses above the %D line.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2024-03-13STOCH LONG EXITThe %K line crosses below the %D line.
2024-03-20DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-03-21SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2024-03-25MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2024-03-26WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2024-03-27CCI SHORT ENTRY LONG CLOSE-100 crossover to downside

6.3. Candlestick Patterns

Elkem ASA Daily Candlestick Chart
DateCandlestick Pattern

6.4. Technical Score

Let's check the technical score of Elkem ASA based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5047.049
Ma 20Greater thanMa 5021.866
Ma 50Greater thanMa 10021.256
Ma 100Greater thanMa 20020.304
OpenGreater thanClose21.500
Total3/5 (60.0%)
Penke

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