ESSENT GROUP LTD (ESNT) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:ESNT - BMG3198U1027 - Common Stock
Taking everything into account, ESNT scores 6 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, ESNT is only an average performer.
Although the technical rating is only medium, ESNT does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 63.90. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 61.90, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
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52.93
We found 5 important support areas.
- A support zone ranging from 61.25 to 61.90. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 59.51 to 59.69. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A support zone ranging from 57.10 to 57.28. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 54.86 to 55.84. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @53.46 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 63.90 to 65.48. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for ESNT is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ESNT is up. |
| ChartMill Relative Strength | 62.96 | NEUTRAL | ESNT is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ESNT is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of ESNT is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ESNT is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 61.37 | NEUTRAL | The RSI value for ESNT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.23 | POSITIVE | The MACD value suggests ESNT has a positive trend. |
| Stochastics (14,3) | 89.34 | OVERBOUGHT | The high Stochastics value suggests ESNT may be overbought. |
| Average True Range in percent/ATR (20) | 2.1 | MEDIUM VOLATILITY | The ATR as a percentage value for ESNT suggests some volalility. |
| Average Directional Index/ADX (14) | 19.91 | NEGATIVE | The low ADX value for ESNT suggests a weak or negative trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 65.49 | 61.24 | 4.25 (6.49%) | 15.41% |
| An entry @65.49. This is a Buy Stop order right above the resistance zone. | An exit @61.24. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 4.25 points, which is 6.49%. | For a 1.00% total portfolio risk, you can invest 15.41% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
62.99
-0.07 (-0.11%)
ESSENT GROUP LTD / ESNT FAQ
What is the ChartMill technical rating of ESSENT GROUP LTD (ESNT) stock?
ChartMill assigns a technical rating of 6 / 10 to ESNT.
What is the current trend direction of ESSENT GROUP LTD (ESNT) stock?
The current trend direction for ESSENT GROUP LTD (ESNT) is Bullish.
What is the RSI signal for ESNT stock?
ESSENT GROUP LTD (ESNT) has an RSI value of 61.3654. This indicates that the stock is currently neutral.
What is the buy/sell signal for ESNT stock?
The buy/sell signal for ESSENT GROUP LTD (ESNT) is buy as both the short term and long term trends are positive.
What are the support and resistance levels for ESSENT GROUP LTD (ESNT) stock?
ESSENT GROUP LTD (ESNT) has a support level at 61.9 and a resistance level at 63.9. Check the full technical report for our detailed analysis of ESNT support and resistance levels.