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From May 16:
"At yesterday's close, VPHM is back at the top of the channel, which comes in today, May 16, at 9.231, so a print of 9.24, which also was yesterday's high, is a technical breakout of the channel. We'd want to see 9.25 get printed, to take out yesterday's high."
No breakout on May 16. The high was 9.24, validating the top of the channel as resistance (Purple #5). Since May 16:
1. The 50DMA made a Bullish Cross above the 200DMA on May 19.
2. Breakout above the top of the channel on a closing basis (9.05) on May 27.
3. Successful retest of the top of the channel at the 8.98 low on May 28.
4. 9.24 validated resistance was taken out on a closing basis (9.28) on May 29.
2 comments:
nice call on VPHM. Of course this time I am not invested
cheers
Oliver
(P.s.: 3SoF with new strategy and new team, please check)
That's okay, Oliver. We can't play them all ;) I'll check 3SOF. Thanks.
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