Shares of electroCore, Inc. ECOR were trading higher Monday following the company’s announcement of an exclusive distribution agreement with Medistar following regulatory approval in Australia.
Shares hit a high of $4.09 and a low of $2.06 during Monday's premarket session.
The stock was up 31.33% at $2.85 at last check.
Electrocore Technical Levels: The 5-minute chart below shows short-term speculative support and resistance for those looking to trade shares of Electrocore.
A short-term bullish technical trader may call the premarket high a speculative resistance at the price of $4.09. A short-term bullish technical trader may find short term speculative support at $3.20 and more at $2.75.
The daily chart shown below shows shares of Electrocore have recently broken out of what bullish technical traders may call a speculative resistance at the price level of $3.25.
Ideally, the bullish technical trader will want to see Monday's session close above this speculative resistance for the chart to move further to the upside.
A bearish technical trader may like to see a close below this speculative resistance on the daily chart, or even better for a bearish technical trader, a close near the open.
A close near the open would make the daily chart have what technical traders would call a “bearish shooting star candle,” indicating price may fall further.
Electrocore shares currently trade with a market cap of $97 million and a public float of 32 million shares.
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