VPE 0.00% 41.5¢ victoria petroleum nl

breakout

  1. 468 Posts.
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    Stock has been trading in a downtrend for over 21 months. It started to head sideways in a consolidation pattern since March 2003 not breaking the 1.4c level. Volumes have been increasing recently.

    The previous 4 trading sesssions have seen the stock test the 1.5c level, and today on large volume has broken upwards.

    Would anyone else agree that it may head towards the 3.8c to 4.2c level where it sat sideways for a long period of time over two periods (Jun 99 to Nov 99) and (Sept 00 to April 01)?

    It looks like there might be some resistance at the 1.8c to 2c level where it had good recent support.
 
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