ITT Educational Services, Inc. provides postsecondary degree programs
in the United States. It offers master, bachelor, associate, and career
oriented education programs in various fields, such as information
technology, electronics technology, drafting and design, business,
criminal justice, and nursing and health sciences. The company's
information technology programs include communications, network
administration, network technology, software development, systems
technology, and technical support; and electronics technology programs
comprise communications, computer technology, electronics product design
and fabrication, industrial electronics, instrumentation, and
telecommunications. Its drafting and design programs consist of
architectural and construction drafting, civil drafting, computer aided
drafting, electrical and electronics drafting, interior design,
landscape architecture, mechanical drafting, and multimedia
communications; business programs comprise accounting, business
administration, financial services, manufacturing, marketing and
advertising, and sales; and criminal justice programs include
corrections, cyber security, investigations, and security and policing.
Please take a look at the 1-year chart of ESI (ITT Educational Services, Inc.) below with my added notations:
After breaking through its $20 resistance in May, ESI has been stuck
in a sideways move for the last (3) months. During that time the stock
has created a key level of support at $23 (blue) and in addition, the
stock has formed a level of resistance at $28 (red). A break below $23
should mean lower prices for the stock and a break above $28 would most
likely mean higher prices ahead.
The Tale of the Tape: ESI is trading within a
rectangle pattern. The possible long positions on the stock would be
either on a pullback to $23, or on a breakout above $28. The ideal short
opportunity would be on a break below $23.
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