VPC TA

Hi All,

Some interesting TA patterns in play with VPC at present so thought I'd start this thread...

Bullish:
A massive and obvious pennant / symmetrical tri has formed over the last 6 months - a breakout up will give a target of approx. 12c. The support / resistance (from eyeballing it) is about 5c & 6c respectively (nice round numbers a coincidence).
A hammer formed from Fridays trade, indicating we are on the way up within the trading range, will it break out when it gets to the resistance? IMO VPC needs some solid revenue announcement for that to occur.

Bearish:
There is (IMO) a descending triangle in play, formed over a 6 - 8 wk timeframe. The support is at 5.3c, resistance at 6 - 6.1c. A break down would likely reach the same previous low of 4.7c. The trouble with this occurring would be that the 5c resistance is broken of the aforementioned symmetrical triangle - hence indicating a break down, but given the fundamentals of VPC any dip below 5c will likely be short lived.

In summary, any opportunity to top up under 5c will be a gift.

IMO, DYOR

Any chartists, guru's or holders like to comment?