I cannot find a technical analysis thread so i am starting one.
VUL took a hammering today (for the first time in ages).
Its normal for a stock to test support levels and its normal for some folks to take their nice profit.
What I now look for is fresh DEMAND coming in that might indicate a continuation.
As can be seen on the RHS the selling volume is low BUT there is no fresh DEMAND yet.
Going back a few days from the extreme low volume sell off today, I can see fairly high volumes on those DEMAND days.
CONCLUSION: Not too many selling at the moment but then again no Fresh Demand coming in.
Prediction: At test of the big red candle at $4.75 might happen?
Either way from a Fundamental perspective I aint selling for the time being but cannot afford to over-expsoe myself to more buying. Hmm perhaps others have the same situation?
VUL Price at posting:
$4.97 Sentiment: None Disclosure: Held
