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ESTA Forecast

Price Forecast:

Bearish <-> Bullish

Bullish Case: ESTA could recover due to increased demand for their products and strong investor sentiment, reflected in higher call trading volume. Positive earnings reports could further bolster confidence.

Bearish Case: Continued bearish market trends and low trading volume may lead to a further decline in ESTA's share price, particularly if macroeconomic conditions worsen or earnings miss expectations.

Potential Outcomes: 1. Positive demand growth drives ESTA up 15% (30% chance).
2. Earnings disappoint and cause a 20% drop (40% chance).
3. Sideways movement continues as investor sentiment remains mixed (30% chance).

Trading Oracle: Implement a bullish debit spread by buying the $45 call and selling the $50 call, leveraging the recent high implied volatility and strong call volume. This strategy allows capturing upside potential while limiting risk. Aim for short-term gains, with a favorable reward-to-risk ratio.

December 05, 2024

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Correlated Assets

Assets that tend to move strongly with ESTA

XOP SPDR Oil & Gas Exploration and Production (0.74)

VLO Valero Energy (0.73)

FANG Diamondback Energy (0.72)

MU Micron Technology (0.72)

RRC Range Resources (0.71)

Uncorrelated Assets

Assets with little price relationship to ESTA

BKR Baker Hughes (-0.0)

UWMC UWM Holdings Corporation (-0.0)

MGNI Magnite (0.0)

FLR Fluor (0.0)

LMND Lemonade (0.01)

Anticorrelated Assets

Assets that tend to move strongly against ESTA

ADBE Adobe (-0.68)

PENN Penn National Gaming (-0.69)

AUPH Aurinia Pharmaceuticals (-0.72)

WMT Walmart (-0.74)

ZTS Zoetis (-0.76)

ESTA News over Time

Click points to explore news by date. News sentiment ranges from -10 (very negative) to +10 (very positive) where 0 is neutral.

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