ESRX clears $80

The markets were skittish yesterday so the breakout list today is not the best.

As a longer-term trader I would not want to trade ESRX. While this stock has been bullish for years the pullbacks can be very deep. Trends only last at the most for a few months. However, this may suit other traders who like to trade shorter-term.

The first gap up passed $80 (and on higher volume) so was a good opportunity to buy this stock. A second gap up soon followed but not, this time, on higher volume - so the entry was a little murky. Getting into a trade here could be difficult. But, if past data is anything to go by, the uptrend could last a few more weeks.

If you like a bumpy ride the next set-up for a long position could provide a near-term gain.