Guys (and gals), VET looking GOOD! VET generated a new buy re ; Luckyone on IV
VET generated a new buy signal on both the daily and weekly closing chart, meaning that the bears have lost the control they had obtained 6 weeks ago. The stock did close on the high of the week and further upside above last week’s high at 22.20 is expected to be seen this week. It is important to note that tomorrow (Tuesday) is the monthly close and the stock is having a positive reversal month and is presently trading above the 3-year monthly closing high at 21.02 that was made 2 months ago. This does suggest that the uptrend is about to resume and if that is the case (probably), that the objective is the 25.58 to 26.77 level, which is where the next monthly close resistance is located (which is also seen on all the other charts). On a daily closing basis, pivotal resistance is found at 23.52. If broken, there is open air above to $26. Intraweek support is found at 20.00. Nonetheless and at this time with Oil and Gas looking strong, a drop down to that level would actually be a negative. This does suggest that the bulls will continue to move the stock higher this week and possibly and maybe even probably generate a break out.