VIP Industries: Breakout Done, Awaiting Retest

٢٨ نوفمبر ٢٠١٨

The stock has seen a sharp rally in the past couple of days, resulting in a big breakout from a range. The price action today is suggestive of some kind of a corrective move that is underway after the recent spike in price. I would love to see small bodied candlesticks with below average volume over the next few days wherein the price either drifts lower to the breakout zone or gets into a sideways consolidation.

IF this price action unfolds, I would be eager to buy the subsequent breakout. This one is in my watchlist !!