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  1. Home
  2. / Investing
  3. / Financial Services

Virtus Investment Partners Is Topped Out

We expect a retest of the $100 level and eventual decline to the $80 area of support.
By BRUCE KAMICH
Dec 23, 2015 | 12:05 PM EST
Stocks quotes in this article: VRTS

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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TAGS: Investing | U.S. Equity | Financial Services

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