After a massive run up yesterday 1/28/20 for roughly 25% it has retraced about 12% today. Looking at the chart it looks to be trading in this upward trending channel. With an avg buy in of $0.32 I'm keeping my eyes on this level close. If I were to take a guess I would lean towards this slipping back to the $0.30 area before making its next move up. Any thoughts or anything I'm missing?
Comment:
Following course exactly as planned - coming down to the supports in the $0.30-0.31 range which coincides with the bottom of the channel as well as the 0.5 Fib retracement. I see this touching up to $0.40 sometime next week.
Trade active:
Still holding strong - I really like the way it's holding strong at the $0.30 mark even on a bloodbath day like today. VISL had until 1/31 to complete the second half of a large $2.8MM deal. If some of the uncertainty from coronavirus calms down + PR comes out for this deal being completed I think we see a move like this back to the top of the channel. Looks like it should happen before EOW next week.