|Vasco Data Security International design, develops, markets, and supports identity authentication products that reduce the risk of loss from unauthorized transactions. It achieves this by validating a person's identity using a one-time password and obtaining a legally enforceable digital signature, if needed, for financial transactions.|
The company's products are currently used in a variety of applications including Internet banking and Internet brokerage, as well as e-commerce applications dealing with the web.
Figure 1 shows how the price has moved up strongly from September 2004, when it was $1.80, to reach a high of $9.12 on February 12, 2005. As shown on the chart, from that date it formed a cup, with its base at $5.95. This immediately suggests that should the price break above $9.12 in forming the handle, it would give a buy signal, with a target of $12.29 ($9.12 - $5.95 = $3.17 + $9.12 = $12.29).
|Figure 1: A secure cup and handle in the making.|
|Graphic provided by: AdvancedGET.|
|The relative strength index is showing weakness, suggesting that the "handle" to the cup could take time to develop and even fall to test the resistance at $7.62 before rising.|
|Volume appears to strengthen as the price strengthens, and weaken accordingly when the price declines. This is a sign of strength, suggesting that as the price falls, sellers dry up. |
Vasco is definitely a share to add to your watchlist for a buy when the price breaks above $9.12.
|Address:||3256 West 24th Ave|
|Phone # for sales:||6042634214|
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