Venture Stock Code V03.SGX
Outlook
Recently, price dropped to a low of $18.63 and from 12 November to 15 December, this support level has supported price on 4 occasions. Yesterday, we saw a strong bullish candle breaking up above the recently consolidation high which could be a hint that the consolidation is over. Conversion line and Base line had a bullish crossover yesterday, confirming the bullish trend. MACD is bullish and rising and a bullish crossover was seen earlier. MACD has also given divergence warnings of a possible price low. If price can move above cloud resistance, which is thin and easy to break above, price could be heading higher to $20.28. A move to $21.05 is also possible on a longer term basis.
Strategy
$19.30 Buy
$20.25 Price Target
$18.50 Risk Management Stop
2 weeks Trade Duration
