VRX is offering a good buy opportunity for next week, after taking off from a sizeable accumulation base. We can buy signs of strength (a new high, or the day turning up above the previous close). We can also look into buying on retracement to support at 34.92. Keep stops below 33.35 and if we open with a considerable gap up, cancel the orders and stand aside.
Targets on chart: 43.46 and 50.81.
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Bit late to the party, but I have been reading O'Neil's trading strategies and volume needs to be strong for it to go up. It rallied with low volume= bad
IvanLabrie
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That's overly simplistic, but the indicator you see there plots colored volume bars if the volume and the range are bigger than the previous bar, that is quite useful to spot what you refer to.
I suggested a straddle or a wide stop long trade in the KHL chatroom actually, let's see how it goes.
Cheers.
flintyu
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What indicator are you using?
IvanLabrie
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The one in the middle, RgExp. It's part of Tim West's 'Key Hidden Levels' suite.
I use those mainly.
flintyu
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Ah I see, thank you! What's your main trading strategy?
IvanLabrie
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I do swing and position trading mostly, using the 'time at mode' strategy and other associated methods. It's a proprietary strategy developed by Timothy West. He's a poster here, you can see his charts in the all time top authors list.
I'm a student of his, and currently teaching his method as well.
lucas1982
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Agree, looks bullish. It might reach 66ish closing the gap and hitting old resistance (see years 2012, 2011 and 2002).