Sunday, January 29, 2017

Volkswagon [VLKAY] update

In this backlink I provided a model that expected higher prices in Volkwagon.  The price was $27 at that time with a $37 price target:

The price is up since that post but has not made it to $37.  In fact, it only peaked at $33.75.  But that is all I think it is going to get because the model has since turned into a rising wedge.  Bottom line is that I am now flipping from a near term bullish stance in which I modeled the direction correctly to a near term bearish stance which could likely find a bottom in the $15 range.

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