ESTC making a nice run at the downward resistance on the daily. Printed a beautiful PEG after earnings in early December. Nice looking hammer candle during a weak tape suggests this should be a leader when markets bounce.
Great potential for this stock to go down and get the $30. This equals 50%! It has just reached its resistance bearish channel for the 4th time, so it is fairly reliable.
I think ESTC is way too oversold at this point. NYSE:ESTC
Love this setup. Next stop $88 then potentially $100