Good news for fans of this stock

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Versarien stock (LSE:VRS) has just gotten a new lease of bullish energy, after a long and protracted bearish movement in the market. The good news is that this could be a beginning of a strong bullish trend.

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 top left part of the chart. The EMAs are all sloping downwards as a result of the recent weakness in the market.

However, the weakness is simply a good opportunity to go into the market at a cheaper price. The market is currently showing signs of bullishness, which may eventually force the EMAs to start sloping upwards.

Thus the supply levels of 29.00, 30.00 and 31.00 could be breached as soon as possible. The outlook on VRS is now bullish.

 

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