Buy Stop Opportunity on VRX
Tuesday brought news concerning VRX's plan to takeover AGN which saw a noteworthy spike in volume and price today. Prices faded into Monday's trading range creating an Inverted Hammer near major support. With the price action movement, we saw the mac-d histogram make its first higher low over this last leg down along with a bullish cross coming from the stochastic.
Wait for price to move through Tuesday's high price of 121.67 to get long VRX with stop losses just below Monday's lows. VRX shouldn't see any real resistance until 129s.
Wait for price to move through Tuesday's high price of 121.67 to get long VRX with stop losses just below Monday's lows. VRX shouldn't see any real resistance until 129s.
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