VRSN Stock: Completing a Consolidation Pattern
Buz Investors Verisign Stock I recently stumbled upon Verisign, Inc. (NASDAQ:VRSN) stock, and I am excited to report on my findings. When it comes to a particular investment, I am either bullish or bearish on its prospects looking forward, and it didn’t take me long to come to the conclusion that I am bullish on Verisign stock. VRSN stock is a great example of an investment that can be deciphered using a price chart, and I was able to support my bullish views by using multiple time frames.
Using a price chart as the basis of an investment view is known as technical analysis. This method is based on the notion that historical price and volume data can be used as a tool to decipher a trend, and forecast future prices. I have been using this method to formulate trading strategies for nearly two decades, and I could not have done it any other way.
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This trend line had been tested on numerous occasions and VRSN has never traded below it. This trend line began in 2002, and it is difficult to refute the importance of a trend line that has been in development for 14 years. If VRSN ever closes below this trend line, I will have all the reason to believe that the bullish trend has run its course and lower prices are set to prevail.
bullish on Verisign stock because there are indications on multiple time frames that suggest that this view is warranted. A bullish resolution to the current consolidation pattern, that is currently in development, will open the door to much higher VRSN stock prices. My bullish view is contingent on technical indicators, so as a result, I will continue to hold a bullish view until there are indications that a different view is warranted.
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