For today's chart we've chosen to take a look at VASCO Data Security International
) because it has fallen toward an interesting level of support. As you can see from the chart below, the stock bounced of the $20 mark and it is now in the process of testing the 200-day moving average. We've also noticed that an ascending triangle
has formed on the chart, which suggests that the bulls are thinking the stock is oversold and may be getting ready to stage a rally toward the $32 resistance. We'll keep a bullish outlook on this stock even though the price is currently trading below the 200 DMA. Short-term traders would likely reverse this opinion in the event the stock breaks below the lower trendline of the triangle.