Vascular Biogenics Ltd (VBLT)

[Valueinvestor12]

Vascular Biogenics Ltd forms bullish "Flag" chart pattern
10/05/2017
Recognia has detected a "Flag (Bullish)" chart pattern formed on Vascular Biogenics Ltd (VBLT on NASDAQ). This bullish signal indicates that the price may rise from the close of 6.10 to the range of 8.10 - 8.60. The pattern formed over 11 days which is roughly the period of time in which the target price range may be achieved.
Vascular Biogenics Ltd has a current support price of 5.25 and a resistance level of 6.10.
A Flag (Bullish) is considered a bullish signal, indicating that the current uptrend may continue. After a steep rise in price, the pennant reflects a temporary pause in the uptrend, consisting of two parallel trendlines that form a rectangular flag shape.