ESV pops to highest close since January 12th

Ensco plc Class A (ESV) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team


ESV pulls back from highs giving back most intraday gains
ESV closes below its opening price unable to hold early session gains
ESV closes higher for the 4th day in a row
ESV rises to highest close since January 12th
ESV closes within previous day's range


Moving higher for the 4th day in a row, ESV finished Thursday at 7.07 gaining $0.05 (0.71%) on high volume. Today's closing price of 7.07 marks the highest close since January 12th. Trading $0.37 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (ESV as at May 17, 2018):

Daily technical analysis candlestick chart for Ensco plc Class A (ESV) as at May 17, 2018

Thursday's trading range was $0.52 (7.29%), that's far above last trading month's daily average range of $0.30. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly above average.

After spiking up to 7.50 during the day, Ensco plc has been sold off at those price levels and formed a bearish Pin Bar closing $0.43 below today's high.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

With prices trading close to this year's high at 7.53, upside momentum could speed up should the market be able to break out to new highs for the year.

Market Conditions for ESV as at May 17, 2018

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