Reading through the Morgan's flash note out on VMY, starting to bang the table, made me take a second look at the stock and fundamentals this morning.
Liking what Iam seeing here, with the share price recently testing the 200 day MA, to pull back for consolidation at the 7c mark, now on the move for a second crack at the 200 day at 7.5c.
MACD, the first indicator below the price action is still trending positively above the 0 control line. I like the fact that the RSI back in Feb and earlier this month failed to move in to 'over bought' territory, which suggests that a move higher is still on the cards. Stochastics also rolling back higher suggest that the next move north could be underway.
The weekly / medium term setup is also looking very encouraging, however, I won't go into that at the moment.
Picked up a couple on market and will look to add if any volume comes on offer at or around the current price.
Looking for a move to 10c in the short term, with a secondary move to 12c shortly there after.
VMY Price at posting:
7.2¢ Sentiment: Buy Disclosure: Held
