VNT : Signs are promising but needs more buying near 18 to confirm a move to 20 or so,
July 21, 2011 Leave a comment
VNT is at 7.70, its highest quarterly close (back in October 2003) since 1995, so if it manages to hold during Q3 at or above this price, then a move to 20 or so should follow.
Look for a strong volume supported push and weekly close north of 18 as a good indication it is ready to move to 20 or so quickly.
Out long term view is VNT can go as far as 30, albeit not this year we doubt.
Decent support around 16.80-17.00, and a much stronger base back at 15.30-15.50, which will probably only be seen if something rather bad effects the entire market in coming weeks and months.