Market Cap $3.59 Billion,
Current share price： $5.79
STT entry based on the TA daily candle chart patterm + trading price volume analysis, backed up by Broker Activities report + broker share price target analysis + big fund big purchase on market
Reasons for STT
1. TA chart, VOC offered two big positive candle yesterday & today with very strong buying volumes & total volumes. It indicates a powerful LONG force is kicking in, either bargin hunters or big boys who are in for long term holding/value investing.
On weekly chart, from the starting of big drop till today, VOC had first time ever offered a white candle with a long legged doji, after 10 continued dark candles.
2. MACD is forming a golden cross below 0 bar which normally is a reliable bottom signal (not shown on my attached chart but you could see it in your software, also technical indicator is a bit lagging so you cant really wait until something is formed that will be a little bit slow but yes more accuracy)
3. Brokers latest rating/comments on VOC showed very strong supports, I dont think these 5 most important broker agency would on VOC.ASX at this time & price level giving BS info to the market, because that will really give a quite negative to their reputation
4. Big fund Challenger is buying a lot on market, CGF.ASX is purchasing VOC shares from 5th July till today ( net buy on market, no single sell) for a total 31.1 million shares. The average purchase price is higher than today's share price for sure, and not higher by a little. CGF became a substantial holder on 22/09/2016, I actually think they are continuing buying notice will be given to the market soon. ( There are a few pages but let me just attach two)
5. Directors buying a lot on market.
My trading plan:
I would tomorrow sit and watch if the $5.60 price level is respected or not, tomorrow is the key day for me to put my buy order through, I expect the share price to test $5.60 zone at least once.
Idealy I would like to buy around $$5.60 but I wont mind paying up to $5.75,
My stop loss price is $5.10
First target $6.20
Second target $6.80
Third target above $7.00( will see later)
Wont expect VOC does so in 1 day, will give it 3 weeks at least to see how it goes.
@speckledjim1 mate was that you or SGB tagged me before when VOC dropped on 21/09 & 22/09 ?
I was asked if I like to catch it or not my reply was ''the chart told me do not touch me in 3 days so I listen''
I now am looking for trading this one.
With my stop loss being my safe net, plus all the 5 reasons for my STT entry, at least I know what I am doing.
me thinks this would be a good timing & a good one, hopefully
