Trader's Logbook

VITA‘s week wasn’t a good one. As what we have feared, VITA gave us a confirmation of the previous week’s bearish signal, the Shooting Star. On our weekly chart we can see a red candlestick signifying that it is now reversing to bearish trend. On this week we might see some spikes you may use as fire exit. Even with the White Knight rumor, I think this will still be generally going south as traders have already been tired of waiting. A revival of the rumor may push the price to increase but while its only a rumor, selling pressure will be felt especially those traders who were stuck at high price will be selling their position.

Caveat!