This stock goes seriously south: You won’t believe why

PUBLISHED: Oct 31 2021 @ 07:30 | Comments (0) | More info about Azeez Mustapha

Vast Resources stock (LSE:VAST) has gone seriously south. The market has been going downwards since June 2021, gradually. However, the southwards movement gained momentum in October.

4 EMAs are used for this analysis and they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown at the tope left part of the chart.

All the EMAs are sloping downwards – strong bearish movement. And recently, there has been a huge jump in the market, in favor of bears. Price is currently below the EMA 200, though it may retrace to the EMAs 10 or 20, or even 50, only to trend more southwards.

The outlook on VAST remains bearish, owing to serious selling pressures going on in the market. Thus the support lines at 2.500, 2.000 and 1.5000 would probably be tested within the next several months.

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