VUZI has recently broken out of it's down trend and now sets a solid hammer with rising volume at a historic resistance point. Bull Case: Participation in an emerging industry.. as well as it's position above the 50 and 200 moving average and bullish hammer after a prior days break past resistance make me bias to an up-side continuation... Bear Case:...
It doesn't look promising. I suppose latest share dilution plays into the hands of short traders. Stock price has lost its momentum despite the positive outlook for VUZI -8.47% (e.g. company continues to develop strong partnerships to succeed in augmented reality).
I've never traded this stock but a friend has been consistently making money so I wanted to check it out. This is only my 2nd chart so please do not take it serious. Might form a head and shoulders but not sure yet so we'll see.
Notes: - Possible retracement to upper wedge resistance upon breakout - Possible return to lower wedge support before bounce higher - Possible failed breakout of wedge pattern (take some profits @ touch of wedge resistance)
- Multiple signals/indicators pointing to lift off - Only concern is falling three methods pattern (strong bearish continuation pattern) - Tomorrow is the 5th and final day of pattern and will determine direction
Coiling like a spring with a close above resistance yesterday...
VUZI has been strong, looking for continuation after a pullback
Possible cup and handle. Please let me know if you have any friendly critique's
Since 2012, this stock consistently has a pattern of spiking downward after an uphill rally creating large spreads of gains going short. There is not any fear that I have that this stock will rally upward any farther before it hits my 6.60 target as it has proven to be very volatile and is already facing a downward candlestick today.
industry of future still in daily cloud relative strength good get our book on amazon for correct entrance and exit strategies know your risk and stops augmented reality space is hot is microcap take care when entering