VIPS 20.26 – neutral – Bulls retrace 38.2% of the April/August fall
VIPS rallied strongly from its 14.68 YTD low (August 24, 2015), following the 6-month downtrend breakout (on September 28, 2015), to reach a new 2-month high at 20.84 Tuesday (October 27, 2015), near 38.2% of the 30.72/14.68 fall, before basing. The indicators on the daily timeframe are overbought, cautioning for pullbacks. The 19.44 low (October 25, 2015 low) serves as the immediate support. A deeper pullback below the latter would risk 17.04 (October 14, 2015 low) where buyers should step in. However, a push through 20.84 would accelerate the upleg towards 22.70 (May 21, 2015 low) near 50% of the 30.72/14.68 fall and the 200 day moving average currently at 22.88.
Outlook:
Daily: neutral under the 200 day moving average
Weekly: neutral
VIPS rallied strongly from its 14.68 YTD low (August 24, 2015), following the 6-month downtrend breakout (on September 28, 2015), to reach a new 2-month high at 20.84 Tuesday (October 27, 2015), near 38.2% of the 30.72/14.68 fall, before basing. The indicators on the daily timeframe are overbought, cautioning for pullbacks. The 19.44 low (October 25, 2015 low) serves as the immediate support. A deeper pullback below the latter would risk 17.04 (October 14, 2015 low) where buyers should step in. However, a push through 20.84 would accelerate the upleg towards 22.70 (May 21, 2015 low) near 50% of the 30.72/14.68 fall and the 200 day moving average currently at 22.88.
Outlook:
Daily: neutral under the 200 day moving average
Weekly: neutral
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.