Not a huge fan of charts but they do come in handy for analysing distribution and accumulation points, also potential set-ups for moves. Overall I probably only allocate 10-20% of my trade to charts. The buying yesterday was significant and has been for a while since the new appointments made by the company. When you consider the quality of the appointments (how did this spec stock attract those people), the low market cap, high growth industry, tech sector has been hot lately (mainly cyber security but ESH may get more love too), and US markets flying, then ESH has a higher probability of moving up than down.
There could be news in the pipeline regarding new products from the company.
ESH Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
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