ESPR unable to break through key resistance level

Esperion Therapeutics Inc (ESPR) Technical Analysis Report for Sep 14, 2018

Highlights

ESPR closes below its opening price unable to hold early session gains
ESPR unable to break through key resistance level
ESPR closes higher for the 2nd day in a row
ESPR ends the day indecisive

TQ Sentiment

Report Sentiment: 40% Bearish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, ESPR finished the week -4.34% lower at 48.00 after gaining $0.43 (0.9%) today. Trading $0.81 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for ESPR

Volatility

Friday's trading range was $1.54 (3.2%), that's below last trading month's daily average range of $2.07. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Unable to break through the key technical resistance level at 48.72, the share closed below it after spiking as high as 48.90 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.

Trend

The stock shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Order Flow

Selling could accelerate should prices move below the close-by swing low at 46.23 where further sell stops might get activated.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Esperion Therapeutics Inc

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