ETrades1

VHC 5+ Year Symmetrical Basing

Long
AMEX:VHC   None
Basing process began Sep 2014, exhibiting almost perfect symmetry, more recent price support found above flattening 200 Week MA (black line) and support found by On Balance Volume indicator convey upside breakout is approaching. Weekly RSI has begun to hold RSI 50 EMA and most recently the 10 EMA (dotted purple line, orange line is 10 EMA), which I consider to be another clue that strength is building. Holding the above the $6.00 level is critical to maintain bull thesis, I am looking at that 7.50 level to enter a trade. Measured move target is about $13, and given the magnitude of this basing process I think it could get there with some expediency if upside breakout occurs.
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