5th December 2023, 23:00 pm ET – Authored by: Neal, Contributor. Edited by: Thomas H. Kee Jr. (Connect on LinkedIn)
Trading Strategies for ESPO on Long-term Basis
- Purchase ESPO slightly above 52.31 targeting 55.86 with a stop loss at 52.16. Learn More
Technical data suggests buying ESPO close to 52.31 with a target of reaching 55.86. To safeguard against possible high losses, setting a stop loss at 52.16 is advisable. Support level of 52.31 below 54.52 is under test, hence it signals a buying opportunity.
- Initiate short position in ESPO a bit below 55.86, target 52.31, maintain a stop loss at 56.02. Know More
Technical interpretation indicates shorting of ESPO as it approaches 55.86 with a predicted downside of 52.31. A stop loss at 56.02 is recommended. Given that 55.86 is the initial layer of resistance above 54.52, testing of resistance triggers a short-selling signal, in this case.
Medium-term (Swing) Trading Plans for ESPO
- Purchase ESPO slightly above 55.28 target 55.86 stop loss @ 55.12. More Info
Technically, if 55.28 starts going up, ESPO should be bought marginally over 55.28 towards a target of 55.86., with a stop loss at 55.12. Any surge above resistance 55.28 is the trigger for buying. As this strategy is based on surpassing resistance, it’s called a Long Resistance Plan.
- Short sell ESPO closer to 55.28, target 54.48, stop loss @ 55.44. View Details
Technical data suggests shorting ESPO if it reaches 55.28 with a downside target of 54.48. It’s essential to have a stop loss at 55.44. The existence of resistance at 55.28 suggests shorting. This is a Short Resistance Plan triggered by resistance testing.
Short-term (Day) Trading Plans for ESPO
- Purchase ESPO marginally above 54.64, target 55.28, stop loss @ 54.51. Read More
Technically, if 54.64 starts to climb, ESPO should be bought just above 54.64, aiming for 55.28 with a stop loss at 54.51. Any hike above the resistance 54.64 is a buy signal, termed as a Long Resistance Plan.
- Short sell ESPO closer to 54.64, target 54.04, stop loss @ 54.77. Learn More
Technical data suggests shorting ESPO if it reaches 54.64 with a downside target of 54.04, and a stop loss at 54.77. The existence of resistance at 54.64 suggests shorting, triggering a Short Resistance Plan.
Snapshot. Real-time updates are provided on our ESPO Page.
ESPO Ratings reviewed on 5th December:
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Underlying Charts for ESPO:
