Vast Resources stock (LSE:VAST) has gone seriously south. The market has been going downwards since June 2021, gradually. However, the southwards movement gained momentum in October.
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 tope left part of the
chart.
All the EMAs are sloping downwards – strong bearish movement. And
recently, there has been a huge jump in the market, in favor of bears. Price is
currently below the EMA 200, though it may retrace to the EMAs 10 or 20, or
even 50, only to trend more southwards.
The outlook on VAST remains bearish, owing to serious selling pressures
going on in the market. Thus the support lines at 2.500, 2.000 and 1.5000 would
probably be tested within the next several months.
Market Analyst, Trading Signals Provider and Coach
Teach Yourself Technical Analysis: https://www.advfnbooks.com/books/techanalysis/index.html
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