Shares of Vera Bradley (VRA) have doubled from their August low with a rising On-Balance-Volume (OBV) line and a bullish Moving Average Convergence Divergence (MACD) oscillator (chart below).
In this one-year daily chart of VRA, we can also see gaps to the upside in September and December with big surges in volume. An upside gap with big volume suggests we are looking at an adjustment of the demand for VRA stock. Prices are above the 50-day and 200-day moving averages and both are rising. And we can add in a golden cross from the moving averages in December.
When we step back and look at the evidence on this weekly chart, above, we can see that VRA is above the 40-week moving average and its slope is turning up. The OBV line is rising. The $25 level looks like a possible upside target.