Electrocore Shares Rally: Some Technical Levels For The Medtech Stock

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.