A cup formation is usually a bearish
signal, however, we may see some slight selling off before another trend upwards as verge has been parabolic recently so it is not uncommon for a set of. When this is recovered from we can expect to see Verge breakthrough the resistance which is indicated by the orange line which will result in upwards movement two previous lies and maybe even above. it would be a good idea to accumulate on the support the buy zone is indicated by the purple rectangle
- MACD- lines look to be crossing over in the short perspective which is bearish .
- RSI - is slightly overbought which also signals an upcoming sell-off or bearish action.
As always trade the lines accordingly.