In about 1 month, from May to June, the small cap regional bank’s shares rose with 40%. The price reached $48 and dropped to $44. That yearly high, the stocks reached, formed a Tripple Top chart pattern – those values were tested twice before, in November 2022. Technical traders started collecting profits at that stage
ESQ is generally trending north, the momentum is bullish, because the 20 da SMA is above the 50 day SMA, which is above the 200 day SMA. A massive bullish pattern, Golden Cross, was detected a few days ago, when the 50 day SMA broke above the 200 day SMA. The shares are trading now at $44, which is a decent discount of 8% below the previous high.
Fundamentally speaking, ESQ has a market cap of $356M, both P/B and P/E are not too high, at 2 and 10, respectively. Sales are $69M and income is $35! This is a profit margin of 51%. In short, when they sell for $10, net profit is above $5! To see our anticipated entry and direction, please visit our Go Premium section.