Elastic NV

The recent support failure below the August consolidation and rejection at the declining 9/20 EMA cluster confirms a bearish medium-term posture. Short-term timing remains unfavorable as price trades below falling EMAs without demand, warranting selling into rallies at the 9/20 EMA resistance zone. The long-term uptrend remains intact on rising 50/200-day SMAs, but the intermediate structure favors further downside. A decisive reclaim and acceptance back above the EMAs would invalidate this bearish bias.

• ↑Revenue $478M +15% YoY in Q1 FY27
• ↑Subscription revenue $399M +18% YoY
• ↓Negative earnings yield flags valuation concerns