Virtus Investment Partners (VRTS) made a large top pattern in 2013/2014 (see the chart below) and the chart is still pointed down.
It is not hard to see the top formation in this chart of VRTS, above. Prices have been moving lower for more than a year with a declining On-Balance-Volume (OBV) line. A bullish divergence would help the chart picture, but we don't see it on this chart. With the trend down and volume confirming the move, we would anticipate a retest of the $100 level and an eventual decline to the next chart support in the $80 area. Stay defensive.
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Shares have made a low and are poised for a recovery
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