Go to the Globe and Mail homepage

Jump to main navigationJump to main content

(Mikhail Kokhanchikov/Getty Images/iStockphoto)
(Mikhail Kokhanchikov/Getty Images/iStockphoto)


Bullish on Vermilion Energy Add to ...

Vermilion Energy Inc. rallied from $20.02 to $52.45 (A-B) and then stayed in a corrective move in the shape of a large wedge pattern. This consisted of lower highs and higher lows for the subsequent two years (dashed lines). Recent price action (C) suggests the stock is on the verge of a major breakout from this formation; a sustained rise above $49-$50 would confirm the breakout. Only a decline below around $46 would be negative.

A rise above $49-$50 would signal Point & Figure targets of $58 and $64. The large wedge formation (dashed lines) supports higher targets.

Monica Rizk is the senior technical analyst for Phases & Cycles Inc. (www.phases-cycles.com). Ron Meisels is a contributor to the www.NA-marketletter.com website and Tweets at @Ronsbriefs. They may hold shares in companies profiled. Please see the site for a glossary.

Report Typo/Error

Follow on Twitter: @RonsBriefs

  • Vermilion Energy Inc
  • Updated January 24 12:27 PM EST. Delayed by at least 15 minutes.

More Related to this Story


Next story


In the know

The Globe Recommends


Most popular videos »


More from The Globe and Mail

Most popular