VIC's Golden Opportunity, page-494

For what it's worth (and all IMO), RSI is in oversold territory, but RSI is a momentum indicator. It doesn't necessarily mean that the SP will bounce. VIC could trade in another tight channel from here. VIC has failed to hold above the 20MA and needs to do so for a bit to set up for another run.

Expect a bit of resistance at 1.1c, but once cleared, 1.1c should act as strong support level. Those two tight channels from Apr/May and May/Jun should help push it on beyond 1.1c once cleared.

First real test is 1.4-1.6c, some further resistance at 1.9-2c, then some serious resistance at 2.4-2.5c (there are two groups of trapped holders here waiting to sell).

I bought a pilot entry at 1.2c a couple of weeks ago when the volume was increasing and the SP held above the 20MA, but that didn't work out so I sold at 1c. Back in at 008, will sit here for a bit and see before increasing position.

A few days above the 20MA should be a good time to top up, or enter for the more cautious. Needs volume!

Another buy signal would be a higher high, with the RSI moving and finishing higher than current level, but below 50 (marked with a short red line).