Vast Resources Price: VAST Majorly Keeps to Descending, Finding Support

PUBLISHED: Feb 04 2024 @ 12:10 | Comments (0) | More info about Azeez Mustapha

There has been a technical observation note denoting that the Vast Resources Plc stock firm (LSE:VAST) has been mostly keeping to a descending order pattern, finding support below the moving average indicators over a number of sessions.

In order to draw in one of the best purchasing positions, the share valuation has been forced to trade at a significantly lower rate as of the writing of this analytics article. Any more attempts to inflict more downward pressures below the present 0.0025 bargaining spot may result in a series of consolidation motions that may last for a while before the price rises again to produce positive points afterward.

Resistance Levels: 0.15, 0.20, 0.25
Support Levels: 0.0.002, 0.0015, 0.001

If there will be a conducive trade atmosphere for a consolidation motion in the VAST Plc stock, should sellers enter a new shorting order below the EMAs?
Opening of a fresh shorting position order around or below the indicators of EMAs may potentially put the price at risk of getting whipsawed in no time, as the VAST Plc shares market has kept to a descending path a bit above the moving averages, finding support.

The stochastic oscillators are currently indicating the need to exercise caution with regard to the new order in the direction of sales. Ideally, they have been systemically slanting southerly into the oversold region. The 15-day trend line is below the 50-day trend line, according to the EMA indicators. As such signals suggest, shareholders should start a piling order process in order to prepare for a possible sudden spike at a later date that may not be too far off.

Learn from market wizards: Books to take your trading to the next

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.