Escalon Medical Corp.(ESMC). The Group's principal activities are to develop, manufacture, market and distribute ophthalmic medical devices, pharmaceutical, vascular access products and Digital cameras.
ESMC made a push above a medium term descending trendline on the semi-log chart:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=255;image)
On today's session ESMC was up 33% with volume above average. It made that pattern that I like so much (just like EGHT (http://www.3stocksonfire.org/trading/index.php?topic=140.0) did - doesn't mean anything), in which the stock breaks an important support and then comes back above it with high volume. It seems the weak hands were totally shaken out and the sky is now clear for the stock to advance.
Take a look at the short term chart:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=256;image)
I don't know if it comes out of my speculative nature but when I see a big white candle like this with enormous volume I buy first and think later.
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... 5% in the pre-market. Will wait for a good time to enter, maybe the open won't be so high.
ESMC
Nice pick, I'd be selling near the 200 ema which is around $8 area its alreay getting up that way
Hi aussie :)
As I see it, ESMC is already above the 200 day ema (the red line on the chart below).
The volume line is probably going to be higher than yesterday ... the stock opened gap up, went higher, then went back down to the opening level and striked again to a new high.
My charts show it at just over $8, maybe I have an error, but whatever great pick. I wasn't around to buy in time unfortunately.
Mike
It looks like aussietrader was right, the stock has already made a big move from the lows, rebounding from a severe downtrend. Now it's weakening in the face of the 200 day exponential moving average.
Bought @ 7.17, sold @ 7.35, not a big profit, but better than losing. Sometimes the stock can't give you much. You should accept what she has to give ... or she might take your money.
RECEIVES FDA 510(K) CLEARANCE: Escalon Medical Corp. (ESMC) announced that its
Drew Scientific subsidiary received 510(k) clearance from the FDA to market the D3 Hematology
System, an automatic three-part differential Hematology Analyzer. Drew Scientific plans to
commence shipments of the product in the United States by the end of the month.