Versarien reaches a multi-month high, to go higher

Versarien stock (LSE:VRS) has reached at multi-month high at 22.00, and it will go higher from here, owing to the present price action.

The last time price reached this supply level was June 2017, after which the market journeyed downwards slowly and gradually, reaching a low of 13.00.

In October, further bearish run was rejected as price shot skywards, breaching the supply level at 22.00 (after moving far above the upper Trendline). The RSI period 14 is also above the level 50 – even in the overbought region.

There could be some pullbacks in the market, but Versarien is supposed to go further north, reaching the supply levels at 24.00, 26.00 and 28.00 within the next several months.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Traders’ Mindset: Trader's Mindset

  

Source: http://uk.advfn.com/newspaper/authors/azeez-mustapha

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