VMC has broken the 2.18 barrier

VMC has broken the 2.18 barrier with an impressive volume today. I thought it will first create a handle for the cup but price just went up. The price may continue to move to 127.2% Fibonacci Retracement level or around 2.35 per share with support at 2.18

RSI or Relative Strength Index is near 80 which is already overbought. This may loosen up once price will correct.

Caveat!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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