ESPR unable to break through key resistance level
Esperion Therapeutics Inc. (ESPR) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (ESPR as at Sep 14, 2018):
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.
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.
The stock shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.
Selling could accelerate should prices move below the close-by swing low at 46.23 where further sell stops might get activated.