Technical Summary: V has been an easy hold for long term investors or trend followers. The stock has found its way to new highs with virtually no volatility. Its been plain sailing. It is a stock that on retrospect you could have chucked a dart at and brough anywhere. While this is always possible in retrospect we need to be more mechancial when buying today. The stock recently has become overextended and snapped back to its 50 day moving average in heavy selling volume. It appears to be wanting to form a base and at this juncture it is not buyable. We would like to see more right side (on the chart) and the stock to work through a solid 4-6 week base. We would then be looking to buy on strength. For long
term holders there is no reason to sell unless you wanted to take profits. For those looking to initiate a position we believe that it is best to just wait.