Emeritus (ESC) owns and operates a portfolio of communities providing services to its residents, including independent living, assisted living, specialized memory care, and, to a lesser extent, skilled nursing care. This stock is trading up 7.5% at $22.64 in recent trading.
Today's Volume: 985,000Average Volume: 124,480 Volume % Change: 1415% Shares of ESC are ripping to the upside today after Deutsche Bank started coverage on the stock with a buy rating. From a technical perspective, ESC is bouncing strong here right off some near-term support at $21 with monster upside volume. This move has started to push ESC into breakout territory, since the stock has moved above some near-term overhead resistance at $21.99. Traders should now look for long-biased trades in ESC once it manages to trigger its next major breakout trade. That trade will hit once ESC clears some past overhead resistance at $22.88 with high volume. Look for a sustained move or close above $22.88 with volume that hits near or above 124,480 shares. If that breakout triggers soon, then look for ESC to re-test or possibly take out its next major overhead resistance levels at $24 to $26.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV