ESI LongLong entry here on this small pullback. Feel we have momentum after the recent longer pull back. May be a bit early.
Trade ideas
Ensign Energy Services LongKey Points:
Today's closed with nice buy volume. Expect a price pump in coming days.
Quick Trade to make nice profit :D
Disclaimer : Trade at your own risk, Not a financial advice.
ESI longBreak out with flip of daily MA's, targeting the lows before the drop. Stop loss raised underneath the previous days candles. Let GO!
ESI quick potential with oil reboundESI is a stock that I've been following for about a month now. It caught my attention when it went into sub $1 prices and really showed value at $0.25. Here I have the potential trend it may follow in the next few days, which relys completely on WTI prices, as this stock does follow fairly close in line with WTI pricing. At R1 we had our first peak which was supported by oil prices, followed by a quick fall back into support at S1. This was followed by a price rebound into a double top at R2. Following this the decline in oil prices that occured after the OPEC meeting, substantially dropped the price again back to current support at $0.46. Depending on oil price movement we may see a move back up into that $0.70 resistance, which if broken would allow the price to potentially run up to around $1.80 - $2.60 within a short ammount of time. Obviously current ecenomic conditions do not support this, but none the less, the potential is there. Even at current pricing, a 100% return is very possible. Let me know what you think!!
Suggested Buy Line for ESIThe Company is still having good market price compared to fundamentals , and a Basic technical Analysis is supporting that
