ESIO pops to highest close since September 7th
Electro Scientific Industries, Inc. (ESIO) Technical Analysis Report for Sep 14, 2018
Moving higher for the 2nd day in a row, ESIO ended the week -0.71% lower at 18.26 after gaining $0.09 (0.5%) today. Today's closing price of 18.26 marks the highest close since September 7th. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was $0.29 (1.59%), that's far below last trading month's daily average range of $0.72. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.
Prices are trading close to a key support level at 17.85.
The market shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Electro Scientific Industries, Inc.
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