Verasity ($VRA) - Major Reclaim of Macro SR
Previously Verasity broke out of the macro downtrend in June 2023 as I wanted to / predicted. However, it was anti-climactic because it was weak and re-entered the re-accumulation zone in yellow. Which I was boldly saying, was an opportunity imo.
NOW, we have just seen the next phase I wanted to see which is a reclaim of the macro SR level in green. This is a sign of regaining strength and should serve as a new level for some consolidation to build up a base. If this level holds on the daily/weekly, I expect expansion.
Some shorter timeframe resistances marked in R1 R2 and R3 for shorterm levels/targets for a swing trade. I personally am more interested in the longterm and will be dollar cost averaging in, as I have been doing for several months/year.
If green is lost and the market is not ready to go in up in continuation, then expect VRA to re-enter yellow for further re-accumulation imo.
Trade safely, only put in what you can afford to lose.
Vatsik
NOW, we have just seen the next phase I wanted to see which is a reclaim of the macro SR level in green. This is a sign of regaining strength and should serve as a new level for some consolidation to build up a base. If this level holds on the daily/weekly, I expect expansion.
Some shorter timeframe resistances marked in R1 R2 and R3 for shorterm levels/targets for a swing trade. I personally am more interested in the longterm and will be dollar cost averaging in, as I have been doing for several months/year.
If green is lost and the market is not ready to go in up in continuation, then expect VRA to re-enter yellow for further re-accumulation imo.
Trade safely, only put in what you can afford to lose.
Vatsik
Vatsik
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