When a reader asked if I might be nibbling at Vard Holdings, I took one look at the charts and said I would need dentures made of titanium before I dare think about it. See comment: here. If we look at the weekly chart, we will gain insight into why share price hit 63c before rebounding. That is where we find the 150% Fibo, a relatively strong golden ratio. With share price closing above the 138.2% Fibo, we might see immediate support forming at 67c.

Vard Holdings: Weekly chart.

However, with such a high volume sell down today, there could be a follow through and, in such an instance, the question to ask is whether we might see the 161.8% Fibo tested and that is, approximately, at 59c. Weekly momentum oscillators, and I am looking at the CMF and the MACD, are not supportive of a reversal. With lower ......