Vermilion (VET) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
The heavy selling pressure might have exhausted for Vermilion (VET) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.
Notwithstanding recession-related headwinds, the Zacks Oil and Gas - International E&P operators like VET, TUWOY and ENQUF should enjoy some upside momentum.