Victoria Oil and Gas Crashes!

PUBLISHED: Nov 25 2015 @ 01:00 | Comments (0) | More info about Azeez Mustapha

Victoria Oil and Gas stock (LSE:VOG) has dropped steeply as a result of a strong selling pressure in the market. This is a development that is supposed to continue for the rest of this year. The southward movement started around the end of October 2015; becoming significant recently.

4 EMAs are used for the market analysis, and they are EMAs 10, 20, 50, and 200. The color that stands for each EMA is shown at the top left part of the chart. All EMAs are now sloping downwards, following a clean “Death Cross” in the market. The momentum is now big as the price goes further south – just below the EMA 10.

Sometimes open positions tend to go into negativity… It is one of those things that cannot be avoided. Even any tests of the EMAs 10 or 20 along the way would proffer a good opportunity to sell short further. It is thus highly probably that the price of Victoria Oil and Gas would easily breach the demand levels at 40.00, 39.00 and 38.00.

This forecast is ended by the quote below:

“I invested in my first stock, which I held until I was 20 years old. Within a few days it turned into a loser, but I held that loser until the company went out of business. I am thankful for that lesson: Do not hang onto losers!” – Joe Ross

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