Thx stock and chris. I'd rather be good than lucky in this joint. Over 4m shares were bought last Thursday and Friday and no one was selling today so the mm's stopped supporting it. They are out 4m shares and that's about as much as they're willing to part with near-term. They can create rallies and panic selloffs to get their books even by the end of the month. So in mid-month they can be a lttle more generous with the shares but in moderation. It's way above the 10d ema so look for a down trend in the am then trade sideways till the candles hit the 10d ema line. Even go under it a bit, then they'll let it run, possibly to $30 by Thursday then pull back some on Friday. This assessment should be pretty close to actual. Without more outstanding shares, the days of nice, long, extended uptrending is over. Herky-Jerky pps action is the norm for now. Great for traders, nerve-racking for investor longs.
Good call Base on the pullbacks. I am not good at predicting these pullbacks and normally I don't swing trade VIPS except recent range bound trading I did a couple of times. I am going to stick with VIPS for the long term with an end of the year target of 60!
base, you have been right in the past on pullbacks. not sure this time as it came off secondary and funds seem to be hungry for more shares. the expected pull back may not happen until the stock hits mid-30s .. let us see what happens next few weeks. before next earnings release, i think VIPS will be over 40 IMO ..
also I would not be surprised to see some brokerages who were part of the secondary and who did not up the ratings or price targets after Q4 results (like piper) come out and issue upgrades or increase price targets
MM's will not let this get too far above the daily 10d ema, which it currently is. That is their MO. This still could use another stock sale too. There still isn't enough os to allow for free-flowing stock transactions. It's too hot, no one is selling, and that spells - pullback. This would be $35 today if there was enough os to go around. And TA is not an exact science. News trumps all prior analysis and so does MM's that are naked shorting again. If not tomorrow (it will probably go up at open then pull back in the pm), then Tues. But one thing is a sure thing, it's heading to $50 by the end of this year.......