Trade-Ideas LLC identified

Energy Solutions

(

ES

) as a "water-logged and getting wetter" (weak stocks crossing below support with today's range greater than 200%) 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 $58.2 million.
  • ES has traded 712,571 shares today.
  • ES traded in a range 223.7% of the normal price range with a price range of $1.69.

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  • ES traded below its daily resistance level (quality: 19 days, meaning that the stock is crossing a resistance level set by the last 19 calendar days. The resistance price is defined by the Price - $0.01 at the time of the signal).

Stocks matching the 'Water-Logged and Getting Wetter' criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility. Trade-Ideas targets these opportunities because the stock is exhibiting an unusual behavior while displaying negative price action. In this case, the stock crossed an important inflection point; namely, "support" while at the same time the range of the stock's movement in price is twice its normal size. This large range foreshadows a possible continuation as the stock moves lower.

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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 0.48 and a short float of 2.3% with 6.20 days to cover. Shares are up 32.7% year-to-date as of the close of trading on Thursday.

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