Recent IPO and ugly pick, ELOS, gapped down 20% this morning yet it is still way above its 50-dma and above its trendline. That's because it is up over 300% since August. Gapping down that much would usually be a sell signal and totally screw up a chart, but that is not the case here - not yet at least. Let's see how it reacts to its trendline and 50dma.

--------