Tuesday, May 1, 2007

Triangle pattern for Visteon (VC)

Visteon Corporation (VC) supplies automotive systems, modules, and components to vehicle manufacturers for use in the manufacture of new vehicles, as well as to the aftermarket for use as replacement and enhancement parts.
On weekly charts you can see technical triangle pattern started already in 2004. Shares are traded at $9. Resistance level is at 10$. If we cross that 3 years resistance we can go far away behind. MA(50) $8.24 and MA(200) $7.96 which are 12 months as a support. Where we go will be clear tomorrow after earnings conference call. I trade this share with limit orders either to long or to short based on resistance or support crossover.


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