We can see that the downward trend is broken and also verified with a bounce. Furthermore, it rests right on the Fib level. Good entry position.
Fundamentally, VGX has been in a steady fall since the LGO swap and Binance listing. Their current market cap is substantially below the mcap of their parent company, which is listed on TSX with a mcap of 1.5bn.
Stop below the trend depending on your risk appetite. Target pink circle.
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Although in a down motion, VGX is still above the trend and the bullish divergence is getting stronger!
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Still on the trend, keeping Bullish. Going below the 2.34 mark would probably change my outlook.