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?
Looks like a real possibility. Good for shorting? Would you be able to advise how to short this stock? Using CFD?
Manufacturing sector is very weak at the moment. PMI & Production Index are showing the slowing down. Venture Corp as an EMS company will definitely be affected.
I am planning to short this stock. Need to watch for how the stock price movement next week.
You can use CFD to short.
Marubozu