Following up from previous BUY call for Vibrant Group, it has indeed traded higher above our target (0.130) to 0.136 before profit taking seen. Has since retraced downwards over the past 3 weeks and managed to find a support at the 0.115 level. This was originally the resistance turned support level which it broke up from in July. May consolidate from 0.115 to 0.120 before more upside. Any closing above 0.120 can signal a potential rebound back to 0.130 then 0.136 level. Stop loss at 0.118 on a clear break above 0.120. Technical indicators all looked oversold currently with Stochastic showing a bullish initial crossover.
Sent: Monday, June 30, 2014 11:54 AM
Subject: ************************** Bullish Setup: Vibrant Group........Next resistance at 0.110 critical.........
Subject: ************************** Bullish Setup: Vibrant Group........Next resistance at 0.110 critical.........
Entry: 0.106 to 0.108
Target: 0.116 then 0.130
Stop loss: 0.104
Reason: TOP 20 Volume breakout above 0.106 immediate resistance level seen today. A break above 0.110 would be a further positive amidst volume maintaining like today. Supported above 0.100 strongly since July last year, support seems to hold very well as of today. Have cleared above the downtrend channel line that formed since September last year, more upside if can stay above 0.105 new support now.
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