Essent Group LTD is in the Financial Services Sector under Specialty Finance. This is a relatively new industry that is going to have growth in the next decade as more specialty finance services companies go to IPO. The opportunities come from Cloud Technology’s second phase of new displacement technologies, such as Artificial Intelligence. ESNT is working on a bottoming formation after a correction from a recent high. It attempted to fill the gap down caused by HFTs gapping the stock in April of this year. The rectangle on the chart is when this stock had potential for a watchlist candidate as a Shift of Sentiment™ pattern occurred. The stock peaked and topped in 2018. The pattern is still at risk for more downside and is not a watchlist candidate at this time, but it is reporting earnings today. The stock must complete this bottom formation and then challenge the previous highs to resume an uptrend. That will take time.
Martha Stokes, CMT
Chartered Market Technician
Co-founder, CEO & Head Instructor at TechniTrader
Learn more at the TechniTrader Learning Center: ttrader.im/learning-center
Chartered Market Technician
Co-founder, CEO & Head Instructor at TechniTrader
Learn more at the TechniTrader Learning Center: ttrader.im/learning-center
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Martha Stokes, CMT
Chartered Market Technician
Co-founder, CEO & Head Instructor at TechniTrader
Learn more at the TechniTrader Learning Center: ttrader.im/learning-center
Chartered Market Technician
Co-founder, CEO & Head Instructor at TechniTrader
Learn more at the TechniTrader Learning Center: ttrader.im/learning-center
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.