After RS Bullish signals !
$Vision Marine Technologies (VMAR.US)$ Following the Reverse Stock Split last Thursday, the price has dropped about 40% since then. If we follow the 5EMA and 9EMA on the daily chart, which serve as resistance, the stock price could go up 34 to 47% to reach these EMA lines, which is huge !!!
In the last 2 trading sessions on Thursday and Friday, volume reached its all-time high. Float is super low. This caused a gap in the stock price ranging from $5.25 to $4.72. The Borrow Fee doubled after the RS announcement and quadrupled Thursday in pre-market, before returning to normal values around 11:15 AM. The Turnover percentage increased a little 2 days before the RS to reach 51% Thursday and then dropped back to 37% the next day, which is high for Vision Marine.
The next resistance level is $4.20 before reaching the gap. There are also positive divergences with the RSI and KDJ and the stock price in the daily chart. I have no choice but to mention this: there is a small possibility that the price will continue to go down to $3.01 because of a wall of buyers.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Technical & Financial Analysis, peer comparison and stock picking. Swing trades & long-term investment.
Pleased to help!
354Followers
149Following
1466Visitors
Follow