VIL 0.00% 1.6¢ verus investments limited

resistance at 2.3c...

  1. 9,413 Posts.
    lightbulb Created with Sketch. 4
    Some folks have been wondering why the VIL share price has been stroking 2.3c and then falling back, today being the fourth day in succession.



    I think the reason is very simple. If we look at the middle of the chart we see that the share price dipped to 2.3c twice on 16 and 17 November before continuing up. 2.3c acted as support. Now it seems to be acting as resistance. It doesn't have to, but the technical traders are recognising this and dumping at 2.3c I feel. Got nothing to do with progress of drilling or results.
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.