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Tech Co. 'Even More of a Buy Now Than Before'

Source: Clive Maund

August 22, 2023 ( Newswire) Technical Analyst Clive Maund takes a look at VSBLTY Groupe Technologies Corp.'s 6-month chart to explain why he believes it is now even more of a Buy.

VSBLTY Groupe Technologies Corp. (VSBY:CSE; VSBGF:OTC; 5VS:FSE) is little changed from where we went for it towards the end of July, and the purpose of this update is to bring it to your attention again, as although the price is little changed, its technical condition has continued to strengthen since we looked at it last month.

On the latest 6-month chart we can see just how its technical condition has continued to improve. Upside volume has remained strong, especially this month, and has driven the Accumulation line more steeply higher. This is a clear sign of aggressive and determined accumulation of the stock, which we can reasonably presume is for a good reason or reasons, not least of which is the fact that it is historically very cheap since it got to almost CA$2.00 towards the end of 2021 and is now trading at just 8 cents — and the lower the price, the greater the leverage on capital employed if it goes up.

By the way, some years ago, I submitted an article to a public website for posting, and they said they didn't like me describing a stock as "cheap," they said I should describe it as inexpensive.

"Is that so?" I replied and words to the effect that I didn't care whether it was cheap or inexpensive as long as it went up after we bought it. It is also suspected that an unannounced bullish Rising Triangle is now forming within the downtrend, whose tentative lower boundary is shown by the blue trendline. If so, then it will likely break out soon.

There was positive news out last Tuesday from the company about an improvement in the performance of its AI-driven weapons detection software thanks to changing over to the Intel CPU plus Intel GPU (graphics processing unit) compute power of the Intel Data Center GPU Flex 170. It's worth noting also that the stock trades in good volumes on the US OTC market, where there has been a massive buildup in volume this month that is regarded as a bullish development at the current low level.

We, therefore, stay long, and VSBLTY Group is rated even more of a Buy than when we first looked at it.

VSBLTY Group's website.

VSBLTY Groupe Technologies Corp. closed for trading at CA$0.075, $0.055 at 1.30 pm EDT on August 15, 2023.

More Info: Newswire

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