VELO has been bullish since october, continously making higher highs and higher lows. The annual report was released wednesday (27.02.19) and caused the stock to drop ~15% the following day. The report held no surprises, however, as everything is on track and it can only be a surprise to the very uninformed investors that revenue is yet far from matching the estimated value of the company, which is boosted by the prospect of being a major player in the treatment of transplant patients in the near future.
I expect VELO to continue up the channel, but it might retrace to the next fib level before doing so. There's some major investors buying up at lower levels, but since it's a small stock it can also be quite volatile.
Let me know how you see it in the comments.
I expect VELO to continue up the channel, but it might retrace to the next fib level before doing so. There's some major investors buying up at lower levels, but since it's a small stock it can also be quite volatile.
Let me know how you see it in the comments.
Continuing down - short until it finds support.