ENDP approaching $100
ENDP popped up on my breakout list today and I felt it was the best trending of the charts on offer. Unfortunately it is approaching the $100 figure mark and the trend doesn't look well enough established, just yet, to take a position before this possible resistance.
The 2014 consolidation was very deep - price retraced almost back to the $50 mark after reaching a high of $82.16. But, since the beginning of 2015, a reasonable trend has begun to develop. Once the 2014 pivot high was cleared, in February, this stock could have become an interesting prospect. More recently we have a bull flag possibly forming on the weekly chart and yesterday's breakout bar was on slightly higher volume.
However, the bars in general have a large range (on 11th March a single day's range was 672 points) which could make trading this stock a bit of a rollercoaster ride. And with price 636 points away from the $100 figure it would be prudent, at this stage, to wait a little longer and see how the trend continues.
The 2014 consolidation was very deep - price retraced almost back to the $50 mark after reaching a high of $82.16. But, since the beginning of 2015, a reasonable trend has begun to develop. Once the 2014 pivot high was cleared, in February, this stock could have become an interesting prospect. More recently we have a bull flag possibly forming on the weekly chart and yesterday's breakout bar was on slightly higher volume.
However, the bars in general have a large range (on 11th March a single day's range was 672 points) which could make trading this stock a bit of a rollercoaster ride. And with price 636 points away from the $100 figure it would be prudent, at this stage, to wait a little longer and see how the trend continues.
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