With the recap of the business done, it's worth a look at the short and medium setup for VFX
Daily -
Recent trend since March looks to have come to an end with a break through resistance off the back of good volume of late. MACD moving through the important 0 control line and RSI with plenty of room to move before over bought signals appear. 0.007 - 1c range is the short term target for some further consolidation. Once price action clears 1c, we could really start to see this open up.
Weekly -
Taking a step back the medium term setup becomes more evident showing the break higher through resistance + MACD heading towards the 0 control line + RSI setup looking constructive. Once the 1c mark is cleared the next targets of interest become 1.7c and 2.5c
I think risk v reward at current levels is quite positive. Happy to keep accumulating down here.
VFX Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
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