Victoria looking weak ahead on huge volumeLSE:VCP
Huge amount of volume coming in here, yet the price hardly went up. This could be suggesting the volume of trades gone through has been absorbed by the sellers?
Small upper wick also indicating weakness as well as the day before.
Watching this one closely for a breakdown in price, not setting a target here, may be just cover with a tight stop.
VCPL trade ideas
Victoria PlcVictoria Plc is an interesting watch. Slowly bubbling away under the radar on the FTSE AIM, half year results showed a year on year jump of 16% in revenue, even though they had a lower profit due to interest on acquisitions.
They are slowly pushing up and with their full year statement in July, they may be pushing for a nice gain in the coming weeks.
A break above around 235 on strong volume, has to be strong, would lead us up to around 275.