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Monday, October 21, 2019

Versarien Plc price analysis: The bearish momentum on VRS to continue


Versarien plc stock (LSE:VRS) is a bear market and the bearish momentum on it is expected to continue. Rallies are ought to be ignored as they can be traps.

In the chart, 4 EMAs are used, 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. Price recently moved above the EMAs 10 and 50, and later dropped below them. That is a clear bearish signal.

Unless price crosses the EMA 50 to the upside, the current bearish outlook would be valid.

 
In the VRS daily chart, the EMAs are sloping downwards. Sell and sell short… As the market moves towards the demand levels at 80.00, 70.00 and 60.00. This is a target that can be achieved within the next several months.



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