Vonage Back in Favor (VG)

Posted in Uncategorized 
October 7th, 2009

Vonage Holdings Corporation (NYSE: VG) is surging this morning on the first real analyst call in ages.  Citi took its target to $1.50.  Full Details are at 24/7 Wall Street but the stock is rifling this morning.  At 9:38 AM EST we have already seen 5 million shares trade hands and the stock is now up 11% at $1.59.  Average volume is only 9 million shares and this only closed above $2.00 once in the recent cycle despite intraday highs of $2.63.  If we had to bet, resistance levels after the pop already seen are as follows:

  • R1- $1.59
  • R2- $1.68
  • R3-$1.77
  • R4- $1.91

JON C. OGG

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