Veritas Kapital

Veritas Kapital has been undergoing a corrective phase over the past few months, but my analysis suggests the stock is nearing an important support area that could set the stage for its next major move. At this point, the pullback looks more like a test of long-term support than a confirmed breakdown.

This is usually the period where I pay close attention to price action, as some of the strongest reversals tend to occur when market sentiment is most negative.

What am I watching?

✅ Price is approaching the lower boundary of its descending channel.
✅ The ₦1.30–₦1.60 support zone remains my key area of interest.
✅ I want to see buyers step in and defend this zone with strong bullish reversal candles.
✅ A breakout above the descending trendline would provide the first indication that bullish momentum is returning.
✅ Sustained trading above the 50-day EMA would further reinforce the bullish outlook.

If these conditions are met, I believe Veritas Kapital could make an initial move toward the ₦2.20 resistance level, with a longer-term target in the ₦3.40–₦3.50 range if the breakout continues to gain strength.
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