VS (6963) - VS Bullish Flag Pending Breakout Plus A Low Premium Warrant




VS (6963): Bullish

Pattern: Bullish Flag Pending Breakout

I 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.
VS Bullish Flag Pending Breakout
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.
Leave me a comment below and let me know what you think. If you have any queries or want to share the next big stock with me, feel free to contact me via my email or FB page below.
 

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Cheers,
Ming Jong

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