V: Temporary Short for 7% - Followed by Long for 12%
Earnings being declared on 01/05 will determine upside break or further stagnation of the stock. Intrinsically, V unlikely to turn bullish due to global economies reopening slowly but surely. Increased consumer expenditure in Q2 may make V a good purchase now while consolidation is occurring.
No clear underlying support or channel. Two channels for support and one for resistance. V successfully broke out of bearish channel and formed an almost-square stagnation. RSI at peak, should come down to about 159 but may continue to 150.
Boundaries
No clear underlying support or channel. Two channels for support and one for resistance. V successfully broke out of bearish channel and formed an almost-square stagnation. RSI at peak, should come down to about 159 but may continue to 150.
Boundaries
- If 159.17 support is broken price will come down to 150.62 before experiencing another support. If 150.62 support broken price could come down to 134.
- If 178.76 resistance broken a new bullish channel will be created with a currently unknown target.
Risk / Reward- If long position, buy at local minima 159 support, gain should be $19.70 (12%) with target price at 178 resistance.
- If short position, buy now at 170 assuming price breaks 159 support and progresses to 150 support for $20.70 (14%).
- If long position, buy at local minima 159 support, gain should be $19.70 (12%) with target price at 178 resistance.
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