Adam, sorry it has taken me so long to get back to you...I work every weekend, so I am just popping in to respond...
VRTY
Moving up in a pennat formation. Moves up 2.50 cents on a spike, then consolidates down about 1.00, before next spike..Stock has done this three times in a row...However, last spike fizzled in 13.00 area..We basically repeated the 3rd consolidation pattern again...Stock moved back to support that I have pegged in the 11.25-11.50 area...Next spike should be to 14.00...That is my next target...However, the ADX has been weakening showing that this trending stock is stumbling..ADX is down from 27 to 22...Thus, we presently have a trading range stock from 11.50 on downside to 14.00 on upside...Basically you have traders who are playing this pattern...They buy around 11.50, and sell to us dummies who buy near 14.00...When I see the ADX pick up and 14.00 taken out on strong volume, I will be back...But I just don't have the time to play this pattern, it is too slow moving for me....
Regards, Mark |
