Follow up from previous chart posted on 10/11.
Price has not returned above the 21 or 55 SMA. MACD negative and still below signal line.
New low of 1007 on Friday. The price still hasn't gained any traction to the upside which is understandable when taking into account the short position increasing to 1.97% as of the 15/11. See https://www.shortman.com.au/stock?q=VUL
It will take some significant, consistent buying pressure to reverse these short positions so who is going to step up to the plate?
Price is basically sitting on the H & S neckline so it desperately needs to find support here to get it out of danger. Sector sentiment remains strong so there is some hope in that regard.
A break of the neckline brings a previously mentioned target into play if the break confirms in following sessions. 200 SMA below the neckline may provide support.
Technically, the chart isn't giving any positive signals so much work is required by believers/ new investors to reverse this situation.
VUL CHART, page-266
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Last
$3.76 |
Change
0.090(2.45%) |
Mkt cap ! $707.5M | |||
| Open | High | Low | Value | Volume |
| $3.74 | $3.80 | $3.63 | $2.295M | 616.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1257 | $3.75 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.80 | 26550 | 6 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| VUL (ASX) Chart |