Today's Roof Leaker Stock Is Energy Solutions (ES)

Trade-Ideas LLC identified Energy Solutions (ES) as a "roof leaker" (crossing below the 200-day simple moving average on higher than normal relative volume) candidate
By TheStreet Wire ,

Trade-Ideas LLC identified

Energy Solutions

(

ES

) as a "roof leaker" (crossing below the 200-day simple moving average on higher than normal relative volume) candidate. In addition to specific proprietary factors, Trade-Ideas identified Energy Solutions as such a stock due to the following factors:

  • ES has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $57.9 million.
  • ES has traded 349,350 shares today.
  • ES is trading at 1.79 times the normal volume for the stock at this time of day.
  • ES crossed below its 200-day simple moving average.

'Roof Leaker' stocks are worth watching because trading stocks that begin to experience a breakdown can lead to potentially massive losses. Once psychological and technical resistance barriers like the 200-day moving average are breached on higher than normal relative volume, the stock may then be subject to emotional selling from investors that can continue to drive the stock lower. Regardless of the impetus behind the price and volume action, when a stock moves with weakness and volume it can indicate the start of a new, potentially dangerous, trend.

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More details on ES:

Eversource Energy, a public utility holding company, through its subsidiaries, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution.

The average volume for Energy Solutions has been 1.1 million shares per day over the past 30 days. Energy has a market cap of $375.9 million and is part of the industrial goods sector and materials & construction industry. The stock has a beta of 0.42 and a short float of 2.3% with 6.12 days to cover. Shares are up 32.7% year-to-date as of the close of trading on Thursday.

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