Vitarich’s Present Bull Run Triggered at Php1.02
Presently, there’s a lot of chatter going around about Vitarich Corporation (VITA). The stock has already gone up by three folds already over the past 5 weeks. Even so, a lot of ‘investors’ are still boarding the ship given the ‘upside’ of Php5.00 or even Php10.00 that is being floated around in the grapevine. In any case, the stock will possibly continue to extend its present run sans the absence of a formal disclosure or positive news. Remember, though, to SELL on news once it gets out via an official channel as a lot of it has already been priced in by the market. Check POPI, NOW, and PXP for reference.
From a technical standpoint, VITA was first given a ‘trading buy’ rating when it broke its prior resistance at Php1.02. A ‘conviction buy’ was later given to the stock the moment that it crossed its multi-year resistance at Php1.45. Since then, VITA has climbed and has recently achieved our measured objective of Php3.00.
Kindly see below for reference.
VITA write-up from the Trading Edge Equity Advisor:
August 10, 2016
Vitarich Corporation (VITA) may have placed itself at the beginning of a new bull run. As you can see from its chart, VITA has actually just broken out from 17-year bullish reversal in the form of an inverted head and shoulders (inverse Kilroy). Given its break above its neckline resistance at Php1.50, a move that was accompanied by heavy supportive volume, VITA may then build a new upwave and aim for at least Php2.80 to Php3.00.
VITA write-up from the Trading Edge Equity Advisor:
July 7, 2016
A third liner in Vitarich Corporation (VITA) may likely see some positive action in the next few days. As you can see from its chart, VITA has just jumped over its interim resistance at Php1.00 to Php1.02. Given its rise over the said hurdle and its ability to close near its day’s high on good supportive volume, VITA may therefore lead itself higher towards its next resistance at Php1.20 to Php1.30.
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