Validian Corp (fka VLDI)

[Surwin]

On a pure technical basis yes the daily chart has turn upward, but it is too soon to say it is a reversal because the year is not over yet. The key is the 200 period SMA on the weekly chart which is still showing a strong declining trend, but the 50 period SMA is pointing upward on the weekly chart and looks like it may cross the 200 to the positive side. If that happens in conjunction with a few days of closing above .03 and I believe there is a confirmation that a short term bottom is in.

Too bad there is no news to support the potential turn around, especially since it is on low volume. A positive and believable PR could sure make VLDI interesting, but without any fundamental to support the current action I still believe before the year is out VLDI will have to either do a R/S or a rinse and repeat purely to stay financially alive.