Tuesday, December 1, 2015

VRX Chart


You might know VRX as the scandalous stock who dropped from $150 to $80ish back in late October. What you might not know is that, even with the large drop, the stock’s 3 month chart shows a well defined downward channel pattern. Bulls will be excited to learn that this downward channel was broken in late November, and the current rise to retest $100 is a very bullish technical sign. If the stock manages to break $100, the next major resistance will be near the $120 level, presenting a nice 20% opportunity for investors and traders.