VIAC is retesting the bottom of its Archegos Capital-related plunge a couple weeks ago. If this support holds, we should see a bounce. I've not extensively analyzed the fundamentals on this stock, but just eyeballing it, it looks fairly valued to me. Just in it for a quick swing trade, I think.
Trade closed manually
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Closed below the March 26 low, and without any real buying volume to signal a bounce.
I've got a swing trade planned for a scale in between $37-38. I think there will be a lot of buyers at $37.04 which closes the gap on Jan 5th and it's a 1.272 FIB reversal (if you take the March 26 low up to the March 30th high) And there is non-horizontal support at this price point as well if you connect the low from March to the lows in Oct/Nov timeframe. In addition, the "hot money" might be out of this trade since it seems like it's not going anywhere. Thanks for this post though because it re-iterates that a buy point might be coming on this one.
ChristopherCarrollSmith
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@happyCloud1537, I think you're right that 37ish is the next buy level.