ENTRY: 17.50 SL: 18.04 TP: 16.96 - ADX>25 - Daily RS +ve - Daily FFI +ve - Weekly RS -ve - Weekly FF -ve - Weekly timeframe shows lower highs and lows. - Reversal to uptrend since 28 Oct 2022 and currently seems to reach the peak. - This is a reverse trade.
SGX:V03 sell and buy at 18.29. This selling will not have more sellers above after completion, if the price stops at 18.29 and does not fall below i would say is a chance to long.
These are the key levels to watch for Venture
Prices are approaching our support in line with our ascending trend line and 78.6% fibonacci retracement and 100% fibonacci extension where we could see a bounce above this level. Ichimoku cloud is showing signs of bullish pressure as well, in line with our bullish bias.
Prices are approaching our support, in line with our ascending trend line, 38.2%fibonacci retracement and 61.8% extension where we could see a bounce above this level.
Prices are approaching our first support in line with our ascending trend line where we could see a bounce above this level.
This is not a trade set up Venture have been ranging from Aug20 until now between support 19.00 and resistance 20.70. This is a relatively tight range. During this period, down moves have higher volume compare to upmove which is lackluster. This is a sign of distribution taking place. Should support at 19.00 broken, we are likely to revisit 15.70. Traders should...
A break below this level could trigger a further drop to our next support level. Ichimoku cloud and EMA are showing signs of bearish pressure as well, in line with our bearish bias.
Price is facing bearish pressure from our resistance, in line with our graphical pullback resistance level and 38.2% fibonacci retracement. A break below our downside confirmation target could see a further push down to test our support target at 18.20
Price broke our downside confirmation level previously and is testing resistance where we could see a further drop below this level.
Price is facing bearish pressure and a break below our downside confirmation level could see a further drop to our first support level.
Venture had resumed its uptrend with a sharp parabolic ascent to $29.50 from Aug 2016 to Mar 2018. Pivot : $19.54 Buy on a break and close above $19.54 Target $29.50 Stop Loss : $18.92
Price could see a larger pullback to our buy entry which is a strong support area before we see a bounce.
Price is facing bullish pressure and a test of our buy entry could see a further bounce above this level.
Price is facing bearish pressure from our Ichimoku Cloud, 20 period EMA where a pullback to our sell entry could present a good opportunity for a short.
Cup and handle pattern breakout. Disclaimer: Not an advice to buy or sell.