VirTra Inc (VTSI)

[Schneidku40]

Oh man, George don't put that pressure on me! It's hard for me to call specific tops ahead of time because under my system they can either be static or move. I know that's stating the obvious. My system is based on a few indicators, that constantly move, so signals are updated daily based on those movements. But I also pay attention to any long term support/resistance. Such as $2 looks to be support as it was hit twice earlier this year and the price bounced up. On top, $4.50 looks to be resistance since it was also hit twice earlier this year. But, those aren't the only two numbers I watch, those are just general guidelines. There is another resistance around $4.10, which is probably why we hit 4.18-4.20 only briefly twice before going back down this week. But whether or not that's real resistance that I would sell into depends on my other indicators. Currently my other indicators are positive and trending up (i mostly use DMI and MACD), so I probably won't sell unless it gets REALLY stuck at 4.10, or indicators lose momentum. A close below 3.65-3.70 would be bad short term.

Longer term, we have this setting up.



Being a general triangle kinda gives it a 50/50 chance of breaking either up or down. But it's telling me that something will happen within October. Either good or bad.

If we want a more positive view of it, we can also look at it like this.



This, as you might notice, is a bull flag. As it says in the name, it's bullish. However, it has more time within the flag to make a move. It might be 3-4 months before it breaks up or down (more often than not they break UP). And unfortunately, given the larger area within this flag's time frame compared to the earlier wedge, it gives a higher chance that the current price breaks down and retests that ~3.20 support horizontal line before going back up again.