I think the charts are telling us something interesting about...

I think the charts are telling us something interesting about ESI...... it is oversold but those selling are not convinced . . . . . if you like technical analysis please read on and contribute:

- the RSI is seriously oversold but it had not been consistently trading below 30 which tells me that the stock is not in a permanent downtrend. The aggressive selling has created a buying opportunity.

- you usually confirm RSI signals with some kind of divergence in other technicals. the MACD is well above the last time the stock hit a low point in its RSI (around 23 december 2009).

- the stochastic has started to turn up with today's action and hammering (if it maintain the current SP of .025).

- short term, the SP crossed below the lower bollinger band. if the other signals were not there i would not have become bullish about this drop. a drop below the bollinger suggests that i should look out for exhaustion in sellers. . . .

I bought today so my analysis might have a degree of bias to it. Please DYOR.


- short term, the SP crossed below the lower bollinger band. if the other signals were not there i would not have become bullish about this drop. a drop below the bollinger suggests that i should look out for exhaustion in sellers. . . .

I bought today so my analysis might have a degree of bias to it. Please DYOR.