ESPR: 2nd Chance To Go Long ?

4 Kas 2017

ESPR rallied 85% from its last consolidation to its near term high at $57.38.
Prices have since been in consolidation mode in the form of a expanded FLAT.

The consolidation appears to be completed.
A successful break to the upside could bring prices to a range between $82.24 (Fib Exp 1.5x) to $85.36 (Fib Exp 1.618x)

Break of Critical Support could imply any of the following possibilities:

(1) A much larger scale FLAT is forming where prices could likely find support between the range of $20 and $30.
(2) Prices are in an A-B-C correction and will break its Nov 2016 low of $9.40

Till then, the operative wave structure supports the bullish bias to break upwards from current price.

9 Kas 2017

Not

Prices have reached a short term critical juncture.
A break above $51.33 will increase the probability of the initial analysis.

On the other hand, a break of the short term critical low will imply the other alternative scenarios mentioned.

23 Kas 2017

Not

Prices have turned up from key support and is now testing its near term resistance.
This is the 2nd time prices are testing this resistance.
Though not necessary, prices could consolidate for a short period before attempting a break above this resistance.
The momentum is still to the upside.

1 Ara 2017

Not

Prices have broken above the near term resistance turned support.
Momentum is good but average breakout volume has taken the shine off the break up.
To sustain the upward momentum after breakout, volume will be critical.

26 Ara 2017

Not

Prices appear to be consolidating sideways around the $52 to $65 range.
As long as prices do not break key support, we can expect more upside.

14 Oca 2018

İşlem kapandı: hedefe ulaştı

Consolidation appears complete.

Trade at your own time and target.

Happy Trading.

14 Oca 2018

Not