VIVOCOM prices surged in heavy volume today boosted by renewed buying inspired by positive updates from research houses and market expectation of a much higher-than-expected profit number for the 1st Quarter.
The high volume of 109 M shares traded was a classical case of long-liquidation and new heavy accumulation at play.
Some stale-bulls are getting out and more aggressive bulls are taking over on anticipation of further upside to VIVOCOM.
This sort of strong positive cash flow following a price breakup is considered to be a vary significant technical development as it points to the direction a stock would take for the future.
Judging from the buyers aggression today, there are very high possibilities that wide price volatility would emerge as prices head for their historical highs around the 34c - 36c levels.
Irrational exuberance would then dominate trading as prices enter into uncharted territory in search of a new-high around the 48c - 50c levels.
With to day's strong performances, every other technical oscillator in the books would turn positive.
For example, the Relative Strength Index (RSI) has turned north and indicated that VIVOCOM is now on a bullish extended-move phase with prospects of further rally.
The popular Candlesticks chart has shown a massive white candle and indicated that a new bullish cycle has started.
It's closing price almost at the top-end of the day's range signalled that the underlying strength of this stock is strong.
Meanwhile, the Quantitative Algorithm trend track ended the day in sharp bullish-divergence and continues to call for new and higher price levels in days ahead.
The trend is your friend BIG MONEY is made only by holding on to a right position.
In short, a buying position.