when opportunity arises....technically

Hi friends in the Short Term Trading subforum,

Here's an updated chart that will attempt to show the technical supports of VPG. But first the preliminaries:

There is ZERO fundamental content in this chart and post. We are discussing technical aspects of the stock with respect to short term trading only, and in the Short Term Trading subforum. Please skip to avoid wasting your time if you are a fundamental or long term position trader as this post contains only a chart. Thank you.

Now on to the discussion:

As can be seen from the chart, VPG started to pull back after hitting the upper edge band of the Band envelope drawn around the price bars, and even exceeding it.It had formed a Black Marobozu candlestick engulfing a good portion of the previous day's price action and into part of the price action of the day's before as well.

There is just below this a gap in the previous price bar waiting to be filled, and technically that is a point of next support as indicated. If there is any more weakness, the next line of support is also marked.



If a stock has good fundamental announcements affecting it in the near future, a dip in price is seen to be a good opportunity for a re-entry position. Technically this is supported by the fact that the objectives of the cup with a handle mentioned by Brantley in the past and the massive W pattern have yet to be completed. However, this is not the best forum to discuss the longer term prospects as this is the Short Term Trading subforum, and it is best to keep within the confines of short term trading subforum.

Hope this updated chart is useful to the members of the Short Term Trading subforum.

Please be mindful this is a technical picture only. Also read the disclaimer below my signature line. May the best prices be yours.

dascore