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Vonage Looks Ready To Breakout

Published 06/04/2013, 04:29 AM
Updated 07/09/2023, 06:31 AM
VG
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Vonage (VG) has a slow and steady decline over the last month declining 13% since April, but it appears it might be basing and ready to climb higher. It has found short-term support at 2.70-2.69 and there was size here on the level II today. VG stopped short of breaking out today closing at resistance at 2.76, which was its most recent swing high but more importantly it represents breaking resistance from earlier the year. A break above 2.76 and VG the potential to breakout, plus there is limited risk here with 2.70 being a stop.
VG

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