VSBLTY Groupe Technologies Corp. (VSBY:CSE; VSBGF:OTC; 5VS:FSE) is little changed from where we went for it towards the end of July, and the purpose of this update is to bring it to your attention again, as although the price is little changed, its technical condition has continued to strengthen since we looked at it last month.
On the latest 6-month chart we can see just how its technical condition has continued to improve. Upside volume has remained strong, especially this month, and has driven the Accumulation line more steeply higher. This is a clear sign of aggressive and determined accumulation of the stock, which we can reasonably presume is for a good reason or reasons, not least of which is the fact that it is historically very cheap since it got to almost CA$2.00 towards the end of 2021 and is now trading at just 8 cents — and the lower the price, the greater the leverage on capital employed if it goes up.
By the way, some years ago, I submitted an article to a public website for posting, and they said they didn't like me describing a stock as "cheap," they said I should describe it as inexpensive.
"Is that so?" I replied and words to the effect that I didn't care whether it was cheap or inexpensive as long as it went up after we bought it. It is also suspected that an unannounced bullish Rising Triangle is now forming within the downtrend, whose tentative lower boundary is shown by the blue trendline. If so, then it will likely break out soon.
There was positive news out last Tuesday from the company about an improvement in the performance of its AI-driven weapons detection software thanks to changing over to the Intel CPU plus Intel GPU (graphics processing unit) compute power of the Intel Data Center GPU Flex 170. It's worth noting also that the stock trades in good volumes on the US OTC market, where there has been a massive buildup in volume this month that is regarded as a bullish development at the current low level.
We, therefore, stay long, and VSBLTY Group is rated even more of a Buy than when we first looked at it.
VSBLTY Group's website.
VSBLTY Groupe Technologies Corp. closed for trading at CA$0.075, $0.055 at 1.30 pm EDT on August 15, 2023.
Originally posted at Clivemaund.com at 1.35 pm EDT on August 15, 2023
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Clivemaund.com Disclosures
The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.
