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Tech Co.'s Stock 'Continuing To Strengthen'

Source: Clive Maund

 

August 24, 2023 (Investorideas.com Newswire) Technical Analyst Clive Maund reviews VSBLTY Groupe Inc.'s 6-month chart to tell you why he believes it is continuing to strengthen.

Although we last looked at VSBLTY Groupe Technologies Corp. (VSBY:CSE; VSBGF:OTC; 5VS:FSE) only about a week ago I think it is worth bringing it to your attention again here to point out two things. The first is that its technical condition has continued to improve despite the minor dip of the past week or two with strong upside volume and its Accumulation line continuing to storm ahead. This stock has been aggressively and persistently accumulated by a person or persons or, more likely, an entity since late June, and if we make the reasonable assumption that they are not deluded or nuts, then they probably have good a reason or reasons for buying like this.

So one of two things is likely to happen, both of which should send the stock price higher, probably much higher. One is that they keep buying, but having mopped up available supply around these levels, they are forced to raise their bids and drive the price up. The other is that the reason for their buying becomes evident in the form of good news that will prompt buying by others. The second thing worth pointing out, which is the main reason for this update so soon after the one a week ago, is that this looks so promising that it is considered to be worth switching out of at least a portion of any losing positions you may have, on opportunity costs grounds into this.

VSBLTY Group's website.

VSBLTY Groupe Technologies Corp. closed at CA$0.075, $0.055 on August 18, 2023.

Originally posted at Clivemaund.com at 8.45 am EDT on August 21, 2023

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