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Emerge Energy Services (
EMES) is engaged in the ownership, operation and acquisition and development of a portfolio of energy service assets. This stock closed up 5.3% at $25.80 in Monday's trading session.
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From a technical perspective, EMES ripped higher here right above some near-term support at $24.30 with above-average volume. This stock has been uptrending strong for the last three months, with shares soaring higher from its low of $16.19 to its all-time high hit on Monday at $26.50. During that move, shares of EMES have been consistently making higher lows and higher highs, which is bullish technical price action. Shares of EMES triggered a breakout here after the stock took out some near-term overhead resistance levels at $25.45 to $25.49.
Traders should now look for long-biased trades in EMES as long as it's trending above some near-term support levels at $25 or at $24.30 and then once it sustains a move or close above its new all-time high at $26.50 with volume that hits near or above 204,875 shares. If we get that move soon, then EMES will set up to enter new all-time high territory, which is bullish technical price action. Some possible upside targets off that move are $30 to $35.