third coast.. said:
can one of you chartists tell me what you see on this chart from $VEON? It looks like i is approaching the Model T at 1.75. It also looks like a tricksy move back in late January. It went below the 200 EMA for some time but is now back over it. Id appreciate some insight for no other reason than to learn what things are saying!
I picked this up on my scan settings.
Model T over the 12 month period is about $2. It has new support now at $1.60 which was a prior resistance. Coming off a double bottom. Basically forming the handle now back from a June cup completion.
Dumped off right at Feb COVID impact from $2.70. $8B company that has struggled financially but just signed a global contract with Master Card to expand Master Card's digital financial services. Could change their game.
I bought shares at the new support level the other day and also loaded June & Sept $2 calls. They are cheap at about .15-.20 on June and .30-.35 on September.
Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11