$VIRT is continuing to form a nice ascending triangle pattern on the daily. A breakout of this pattern could lead to a near-term 5% gain at the next resistance line from previous breakouts. Longer-term a gain of 18% to the next resistance level around $30 is possible.
NASDAQ:VIRT and CBOE:VIX moved up together during the February correction.
- VIRT benefits from higher volatility due to their high frequency trading
- Higher volatility higher stock price
- Expected to move higher during next weeks FOMC decision.
VIRT seems breaking out its long term resistance forming a flag formation. On the weekly frame it seems breaking out of a downward channel. It has strong insider buying, Strong Moneyflow on weekly chart and above all moving averages supporting this Long trade.
* Trade Criteria *
Date first found- January 25, 2017
Pattern/Why- Flag formation, Breakout of...