Venture Corp is currently just sitting on the $7.00 which is the 61.8% Fibonacci Support. Immediate resistance is $7.37 which is the support turned resistance level. Venture is on down trend and 20D, 50D and 200D are trending down. Breaking this $7.00 will send Venture to $6.245 (the 50% FR or Gann level). Also take note that there is no immediate support in between these two levels. —- A coming Possible FREE FALL?
The trading range is getting narrower for CityDev. A Descending Triangle is formed on CityDev and very close to the breakout. The previous post on the analysis on watching this $10.00 critical support is still valid. Short term price target of breaking down of this Descending Triangle is $8.50. 200D MA is trending down which is also a bearish sign. Base on the chart pattern, I don’t know how long the SUPERMAN can hold on this $10.00 support. So, it is better to play safe and RUN! Anyway, I am already in Short Position! 😉
CSE Global has failed to break the 20D MA and 61.8% Fibonacci Resistance at about $0.98. This turning down also shows the start of corrective Elliott Wave C. Next immediate support is $0.84 (50% FR) followed by $0.70 (38.2% FR).
