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
Source: Traders' Mindset
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