Long
ESPT.V Tightening trading range, cooling RSI
Very interesting consolidation of the stock in the low 20's. The falling wedge pattern can be seen by connecting the peaks of breakouts along this downward trend.
Note that the 20 cent level has provided excellent resistance in the past. The stock closed at 20 cents this Friday, this was the second time for the ticker. The previous time the ticker closed at 20, a gap up to the mid 30's was observed the next morning.
This is not an indicator of future success, but an indicator that perhaps shorts may be covering around this price and drive the price higher. Similarly, a press release about a closing of activate or victor gold deals may bring buying pressure to the upside.
I remain bullish at this level, and believe #esports will be very bullish in 2019!
Note that the 20 cent level has provided excellent resistance in the past. The stock closed at 20 cents this Friday, this was the second time for the ticker. The previous time the ticker closed at 20, a gap up to the mid 30's was observed the next morning.
This is not an indicator of future success, but an indicator that perhaps shorts may be covering around this price and drive the price higher. Similarly, a press release about a closing of activate or victor gold deals may bring buying pressure to the upside.
I remain bullish at this level, and believe #esports will be very bullish in 2019!
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