Why is this popular stock behaving like this?

Versarien Plc stock (LSE:VRS) has been behaving in a way that makes investors feel disappointed and that has been going on for most part of this year. The market tried to recover its previous losses in April 2020, but that effort became futile as it has started coming down (sooner) from then till now.

 

4 EMAs are used for this analysis, and they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown at the top left part of the chart. All the EMAs are slopping downwards, and price is below the EMA 10. There could be attempts to go up, but they would be resisted at the EMAs 20 and 50.

 

To think that the EMA 200 would be breached to the upside is a tall order. Instead, price may reach the demand zones at 30.00, 25.00 and 20.00, because VRS is projected to remain bearish for the rest of the year, going further and further downwards.

 

Azeez Mustapha

 

Market Analyst, Trading Signals Provider and Coach

 

Trading realities: Trading realities 

  

Source: http://uk.advfn.com/newspaper/authors/azeez-mustapha