Investamate
Long

Buy Vesuvius (VSVS) - Could be about to erupt.

LSE:VSVS   VESUVIUS PLC ORD 10P
Buy Vesuvius ( VSVS )

Vesuvius plc is engaged in molten metal flow engineering, principally serving the steel and foundry industries. It develops and manufactures high-technology products and solutions for supply to the steel and casting industries. The Company operates through two segments: Steel and Foundry.

Market Cap: £1.21Billion

Vesuvius has posted an impressive bullish outside candle on the daily chart , which has seen the shares break from a falling wedge . There is support on offer at a 50% Fibonacci level, which could be the bottom of a potential right shoulder in a larger inverse head and shoulders pattern. A break of resistance at 513p is needed to confirm the pattern. It maybe a little speculative at this stage, but the risk/reward is too good to ignore.

Stop: 404p
Target 1: 513p
Target 2: 585p
Target 3: 695p


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