VET looks to have created a double top. The last candle was a belt-hold engulfing candle (two reversal indicators) and today was followed by a downward gap (that turns into resistance). I just opened a Put to take advantage of the decline to either verify the support with the gap left on 1Jun for a 5% gain (more with options) or if it closes that gap and continues downward, there's a chance for 8-24% profit before it finds a new support. RSI, MACD, and OBV are also bearish when comparing the two peaks.This is still on a long-term uptrend, so I don't anticipate this to turn into a major downswing! I just added a Put to collect on the small downswing in addition to my Call that I'm holding.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.