Wednesday, July 19, 2017

Vela Technologies is a choppy market

Vela Technology shares (LSE:VELA) are quite choppy, ugly and unattractive. The market has been going in a zigzag manner.

Price is a kind of bullish, but that signal is not that strong.

Right now, price is above the EMA 21, while the Williams’ % Range period 20 is in the overbought territory. That means there is a possibility of further rise to the north, to justify the current bullish effort.

Vela Technologies is choppy at the present, but there seems to be a rise in the bull’s interest in pushing price upwards. The intent would be made known within the next several weeks as price makes for the resistance levels at 0.300, 0.350 and 0.400.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach


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