Venture is forming a Double Bottoms chart pattern with neckline at about $7.00. Price Target for this Double Bottom breakout is $7.60. However, current candlestick pattern does not suggest the breakout soon as a Hanging Man was formed at the 50D MA resistance. If a bearish candle is form in the next trading day, an Evening Start candlestick pattern will be formed indicates a reversal to short term down trend again. Anyway, it is a good pattern to trade on Venture on either direction!
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?