Vicore in TA dream scenarioVicore right now is in the perfect zone for a potential buy. Everything seems to align. Now we just need to wait for a buy signal, preferably on the daily chart.
Vicore printed a W-formation.
Vicore broke out of it's downtrend.
Vicore broke the neckline of the W-formation.
After the breakout, we've retraced exactly to the following confluence area:
- Neckline of the W-formation
- 0.618fib of the breakout impulse.
- 50 and 200 MA.
- Lots of horizontal support.
So keep a close eye on any potential buy signals.
VICO trade ideas
Vicore approaching important resistance.So the current resistance around SEK 32,- could be a good moment to take some profit if you've been holding Vicore already as it's around the all time high of July 2017.
However, this does not mean that the uptrend has to be over! Just means it's a likely location for a healthy retrace.
So if you're looking for good entries I have 2 possible scenarios:
- Green scenario; a retest of the previous resistance which is now support, around SEK 26-27. Which coincides with the 0.382 fib of the latest impulse.
- Orange scenario; a break up above the resistance around SEK 32,- and then a retest of this resistance (turned support).
Note that with both scenarios, you have to wait for clear signs of actually finding support, before considering a buy. Just saying these are likely areas at which support and buying opportunities can present themselves.
Vicore potential bullish setup, target 134%The fundamental outlook for Vicore is extremely bullish with a target of SEK 41,-.
So I've been looking at a good entry for quite a while now.
After the most recent rejection at around SEK 20,-, VICO seems to be finding support on the weekly chart. Both the 200 MA (thick black line) and a horizontal support area are credit to that.
The black arrow, creating a descending triangle on the support area is our tell tale.
If this is a retest of the new found support then the price should break this black trend line upwards, providing a buy signal and the platform to test the SEK 20,- resistance once again.
If however the support around SEK 17,15-17,30 breaks we need to go and find a new entry opportunity.
Vicore holding the trend, needs a catalyst for impulse.Following its linear regression trend channel nicely
CRS is dropping , i like to use the comparative relative strength held up against the market in which the stock is, in this case OMX30 Sweden
RSI is holding above 50 which is fine
MACD keeps shifting trends
Probably needs a catalyst for an impulse
Redeye gave it a good push with an initiation of coverage
Good entry point for Vicore?Vicore is in an interesting spot. Candlesticks seem to respect the support zone, gathering strength for an impulse. Also MA50 is soon to act as a support as well, and RSI shows that there's a possibility for an impulse as well. MACD is a bit more negative, but if it will dip into the support zone, it might not make it all the way down to the trend line before an impulse. I would guess 17,30 SEK would be the lowest entry point on the 4H chart. We'll see if I'm right.
When to buy VICO.I'm going to look at VICO with a bullish bias because of the fundamentals that give a target of SEK 41,-.
So let's start with the weekly chart on the right:
For a bullish scenario the support of 14.30-14.90 needs to hold.
We just got rejected by the cloud, but if we can find meaningful support the weekly cloud is getting very thin up ahead, so will be easier to break through.
Also from a weekly perspective, the horizontal resistance of around 16.00 needs to be turned into support. That will also put us inside the cloud, creating additional support.
Now the daily chart on the left:
Short term looking for support on the daily cloud and a break of the black trend line. If that happens that gives us a decent entry. BUT then shortly after we already have to content with the resistance at around 16 (weekly cloud bottom edge also), so perhaps not worth it to buy, poor risk/reward.
So taking away from this the following. For a bullish scenario this needs to happen:
1. Daily cloud holding and price staying above support of +-15.00.
2. Weekly cloud needs to be entered.
3. 16.00 resistance needs to be turned into support.
For now, only then should a good buy entry be sought.