Veltex Corporation (VLXC)

[george8]

T/A. It's a no trade for me.

VLXC has to attack $1.5 and stay above it with expanding volume to get me interested.

A one day spike and then languish lower with ever shrinking volume on "very positive press release" is a negative divergency on news.

http://bigcharts.marketwatch.com/javachart/javachart.asp?symb=vlxc&time=&freq=

The chart indicates a basing pattern with lower high ($1.4 vs $1.32) and higher low ($0.74 vs $0.83). It most likely will trade between $0.9-$1.3 for a while with petty volume until next pump.