Looks like break of a neckline on a weekly and daily chart. A sloppy head and shoulders. Symmetry support held at $48.15 this morning after earnings, but my dowsing suggests selling rallies with a trend reversal, and that ESSENT is in DESCENT.
2 Bar daily squeeze likely to fire short, and I expect downward pressure on indexes, so this looks like the beginning of a downtrend.
I wouldn't want to see it close above it's 20 period daily MA (now at 51.30), but stop at $52.
Entry anywhere under there.
Hold ~9 weeks. Target $34.38 area
2 Bar daily squeeze likely to fire short, and I expect downward pressure on indexes, so this looks like the beginning of a downtrend.
I wouldn't want to see it close above it's 20 period daily MA (now at 51.30), but stop at $52.
Entry anywhere under there.
Hold ~9 weeks. Target $34.38 area