With all due respect, technical analysis probably should extend further than a side page "add-on", of a social media chat site.
Now I'm not claiming any guru status here either by the way, but the software I'm studying includes every bit of TA detail I can find. Take in the moving averages and go back further than 12 months.
Vmoto is a stock that lends itself to long slow trends and unfortunately for the last 3 years, that has been down. Over the 20 year life of the Company since I came on board however, this has not always been the case.
Vmoto fell significantly from May 2015 until January 2017. What's interested me, is what's happened over the last 18 months. If you disregard the "mad" spike to 10.5c (intra high of 11c) on August 25th last year, we have generally been bumping along the bottom and ever so slowly, forming one of the most appealing tech formations; "The Saucer".
To complete it, all we need is to register a daily close of 6.5c or higher, with downside risk, showing 5.3c.
Given the fundamentals of the Company along with Charles' multiple recent shows of confidence, FA investors will also acknowledge the appeal.
Once/if we get that higher close (hardly a stretch), the next trend will likely follow history, and carry on for a couple of years too.
Take the self fulfilling prophesy of tech traders and the opportunism of fundamental investors to "buy low", risk in my opinion, is heavily weighted to the upside.
Gottalovevmt...
VMT Price at posting:
5.8¢ Sentiment: Buy Disclosure: Held
