CFD Trading – Buy Venture (V03.SGX) @ $19.30. Stop @ $18.50 and Target @ $20.25.

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

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