Vitarich Corporation (VITA): Sell Near 2.50 or Buy Below 2.26?

Vitarich Corporation (VITA) passed through two resistance levels today, 10 April 2018, at 2.12 and 2.34. While it managed to stay above 2.12, it closed 3 ticks below 2.34 at 2.31 per share.

The intertwined 10SMA and 20SMA at 1.97 makes that price its support level. The lower and higher support and resistance levels, respectively, can be seen on the chart below.

Stochastic shows that VITA is far from being an overbought stock. RSI shows that this stock is so close to being overbought as far as the classical interpretation of RSI is concerned.

MACD confirms VITA’s bullish position as MACD crosses above the zero line and the signal line.

As of April 10, 2018, at 03:30PM, the volume is 478.48% of the previous trading day.

Remember these 4 equations below.

bullish price + high volume = high sustainability (current price trend)
bullish price + low volume = low sustainability (current price trend)
bearish price + high volume = high sustainability (current price trend)
bearish price + low volume = low sustainability (current price trend)

VITA’s Price-Volume Distribution chart shows that 2.30 may act either as a support or resistance by the next trading day. If VITA fails to sustain its ascent, monitor the price near 2.10.

On a 30-day trading period, VITA is on a Net Foreign Selling worth PHP29,529,061.00. Today’s Net Foreign Buying is not enough to outpower the Net Foreign Selling days since last week. Nonetheless, the size of the trades of the foreign investors on VITA is not on a significant level for me.

Participants with a 100% Buying and Selling Activity as of Apr-10-2018 at 03:30PM:

5 out of 68 participants or 7.35% of all participants registered a 100% BUYING activity
25 out of 68 participants or 36.76% of all participants registered a 100% SELLING activity
Top 10 Players’ Buying Average: 2.2136
Top 10 Players’ Selling Average: 2.2593

If my Price-Volume Distribution chart suggests 2.10 as the waiting area should VITA fail to sustain its rise above 2.30, my Top 10 Players chart for today suggests monitoring of the 2.21-2.26 price range.

Due to VITA’s bullishness today, its risk level jumped from low to moderate. Does it make VITA a non-tradable stock due to its upgraded risk level? Not really. It depends on your risk appetite and availability to monitor the intraday price movement of this speculative stock.

Did you subscribe to our Private Clients Forum? I suggest that you post a request for this stock’s latest Price-Volume Distribution chart and Top 10 Players tomorrow.

Author
Recent Posts

Jaycee De Guzman

Founder and CEO at Equilyst Analytics

Experience the expertise of Jaycee De Guzman, the brain of Equilyst Analytics, renowned for his unique data analysis. He is a computer scientist and a self-taught digital marketing strategist and agriculturist. Since Equilyst Analytics’ founding in 2012, over 10,000 local and foreign clients have consulted with Jaycee de Guzman on crypto and stock investments.

Latest posts by Jaycee De Guzman (see all)