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Versarien 2013 Uptrend Line Rebound Expected

VRS Versarien Technical Analysis 250315   At first glance it would appear that there is not too much to shout about regarding the bull scenario at Versarien (LON:VRS). This is because the shares look as though they are continuing to wind down from the main 2014 Head & Shoulders reversal which had its top toward 35p. However, it should be noted that this formation was 10p from the neckline at 25p to the highs of last year. The implication was that on a break of 25p we had a measured move target at 15p. This zone is being approached currently and therefore it may be argued that the bulk of the move to the downside has already been completed. Another point to keep in mind is the way that there has been a return to an uptrend line from October 2

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Versarien (VRS): Return To 25p Plus Initially

Although traders and investors are of course delighted to find themselves buying at the bottom of a bear run, the cliché of no one ringing a bell at such times does mean that “catching a falling knife” is the risk. In the case of Versarien it may very well be the case that the latter scenario cannot be ruled out, it does appear that there are at least a couple of positive factors in place here which suggest at least an intermediate turnaround is on its way since the April peak was made through 35p. Indeed, we are looking at a probable rebound off the floor of a falling trend channel which can be drawn on the daily chart since this time last year. Versarien The best aspect of the price action over the past month is the way that there have been several intraday rebounds off the March 2014 line, something which suggests t

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