pantheo

VTNR: Vertex Energy at 2.618 fib

NASDAQ:VTNR   VERTEX ENERGY INC
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After a monstrous 160% increase in the last quarter, price reached 2,618 fib.

No need to chase here, even after the run was backed by super volume . Last week's bearish wick almost erased, but the volume was 1/3 less. Nice base areas little above 7 and little lower than 6$ in the daily chart , may provide an entry if intraday or day PA show buying pressure.

Long term view is a beauty. A break upwards from a 6 years old base, more often than not, hints at a lot of upside in the future.

Needs to cool down a bit, revisit 10MA or even 30MA, and build a healthy come back towards the 75-55$ highs of 2007

Earnings report May 13th

Cheers

Panos

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