VS (6963): Bullish
Pattern: Bullish Flag Pending BreakoutI first analyzed VS on 8 March 2017 while it was still trading at 1.67 while VS-WA was at 0.315. VS has since hit the first 3 targets (1.80, 2.03 and 2.18) and VS-WA is currently at 0.62.
According to VS's daily chart above, it broke out on 24 July and subsequently hit 2.21 with strong volume. After that, it has consolidated via a flag pattern for more than a week with decreasing volume.
The bullish flag is pending a breakout (above 2.21) in order to resume its bullish movement. The volume flow for VS is very healthy and the bullish legs are expected to be sustainable.
Based on the flag projection, the immediate target price for VS is 2.47.
If you like leverage, VS has a warrant, VS-WA with a gearing ratio of 3.5 and a premium of merely 5%, expired in Jan 2019 (522 days left), which provides a great trading opportunity.
I am bullish on VS when it is trading above 2.06.
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