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VirnetX Holding Corporation (NYSEMKT:VHC)


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#1 Costa

Costa

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Posted 24 February 2015 - 05:39 PM

VirnetX Holding Corporation (NYSEMKT:VHC) looks like it wants to break out from a large base formation. It has a clear key resistance line around the $7 level, which it is approaching having gained 31 cents or more than 4.8% today, to 6.74. A move above the $7 level would confirm the breakout, with an initial target of 9.05 and secondary target of 13. Stop is at 5.65. The short/medium-term uptrend is definitely intact, the lows are rising and even the peaks are nudging up and up. In addition, technical daily indicators are giving positive signals as the stock trades above the 50 and 100-EMAs. I believe the stock can continue its medium-term uptrend and test the $10 levels in the coming weeks. With over a short interest of 14 Million shares and average daily volume of only 420K, the short interest ratio is at 32.8, meaning it would take 32 days for all the shares short to be covered. If the stock can break through $7 tomorrow, we should see strong volume drive the stock higher.

Full article: Stocks to keep an eye on February 25, 2015

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