It will be extremely positive if it breaks through 57c. I think that is a key resistance point. I think VB still has a way to go, so long as the Aussie dollar keeps strengthening, our economy keeps improving and the oil price doesn't significantly move up. I suspect there are short term traders in the stock who are trading the range and hence the build up in the sell side below 57c. But if we can get through 57c that will take us into the next range. Perhaps an earnings upgrade will provide the impetus or some other positive announcement.
VBA Price at posting:
54.0¢ Sentiment: Hold Disclosure: Held