Endeavor Group Holdings, Inc (NYSE:END) announced on Wednesday it had created a baseball organization, Diamond Baseball Holdings, and had signed an agreement to acquire nine Professional Development League Clubs.
- The stock soared about 35% between Oct. 25 and Tuesday, which resulted in a possible sell-the-news reaction on Wednesday.
- On five of the last 6 trading days, Endeavor Group has tested the eight-day exponential moving average as support and bounced from it. This makes the eight-day EMA a guide for traders who are in a bullish position.
- The stock has been trading in a solid uptrend since printed a bullish double bottom pattern on Oct. 22 and Oct. 25 at the $23.80 level. The most recent confirmed higher low is at $28.30.
- Wednesday’s price action may create the next higher-low, if the stock pops up over Tuesday’s high-of-day over the next few trading sessions.
- Endeavor has resistance above at $31.41 and $32.30 and support below at $30.56 and $29.87.
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