This is the price that Versarien shares might bounce
Slumping to their lowest in over two-years, our chartist looks for positive catalysts.
11th February 2020 09:00
by Alistair Strang from Trends and Targets
Share on
Slumping to their lowest in over two-years, our chartist looks for positive catalysts.
Versarien Plc (LSE:VRS)
When we last reviewed Versarien (LSE:VRS) in September, we gave some fairly straightforward criteria for the end of the world.
Alas, three weeks following our report, the share triggered a reversal cycle and the rest, as they say, is history. Despite the share meeting our drop target of 54p, it also broke below and thus now has some risky potentials.
With a low of 46p, we have some hope for a bounce before it hits 39p. Whether any bounce proves sustainable is open to question. If the price breaks 39p on a further surge downward, our inclination will be to hope the price bottoms at 21p.
Previously, we'd felt "ultimate" bottom would prove to be 21p but, unfortunately, the speed of descent has widened the calculation, now giving 13p as "ultimate" bottom, a point which we cannot calculate below.
There's a bit of a fly in the ointment with all this misery!
Perhaps the low of 46p shall be deemed sufficiently close to 39p to provoke a rebound.
If this is indeed the case, the implication is of strength above 55p apparently being capable of an initial 62p.
If exceeded, our secondary calculates at 72p, hopefully placing the share in position for some miracles in the longer-term.
Source: Trends and Targets Past performance is not a guide to future performance
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang or interactive investor will be responsible for any losses that may be incurred as a result of following a trading idea.
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea.
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