EliteTrader101

Vinfast Bottom

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NASDAQ:VFS   VinFast Auto Ltd.
I think VFS will form a sideways range around the 1hr 200ma, then stop hunt below to the Demand Zone in green. Smart money needs to accumulate positions with the range, then get rid of weak hands that keep slowing the up move with the stop hunt which also provides more liquidity for them. If there are no more sellers left after the stop hunt, they will start marking up prices past the range which causes the shorts to buy and also getting breakout buyers to buy adding more fuel to the up move. First target is the 50ma at $50. Not sure how the rest plays out but the final target is at the top of the red supply zone if it can get that far.
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