$ELF Beauty – Time to Conceal or Reveal?

Bullish Scenario:
Trend Reversal in Play: The stock has reversed and is trading above all major moving averages — the classic sign of a trend reversal.
PMO has a strong bullish crossover and is rising sharply. RSI is at ~60 and climbing — healthy momentum without being overbought.

Next Resistance: Price is aiming for the $88.89 zone — a clean trendline and horizontal resistance. Breaking and closing above that would open up a gap fill toward $121.16.

Volume Profile: There's a volume vacuum above $90 — if price enters it, it could fly quickly toward $100+ due to lack of supply.

Trigger: Breakout above $88.89
Target: $100 → $121
Support on pullback: $76.78 → $70.46

Bearish Scenario:
Rejection Risk at Downtrend Line: The $88.89 level is not just a horizontal resistance, it also aligns with the long-term downtrend line — rejection here would be meaningful.
Gap Below: There’s unfilled liquidity down to $70–$72 — any break below $76.78 could flush price into that gap.
Volume Resistance: Heavy red volume bars stack up from $90 to $121 — any lack of strong buying could stall the rally hard.

Trigger: Rejection at $88.89 + close below $76.78
Target: $70 → $65
Invalidation of uptrend: Breakdown below $69.47

Current Inclination: Bullish Bias
Price is trending up with strong volume, good distance from moving average cluster, and confirmation from PMO and RSI.
We’re in early breakout phase — not full-blown trend yet, but momentum favors more upside.
Risk lies only if $88.89 acts as a brick wall again