Corporate Support
Sitemap
Singapore

ShareInvestor.com

Mobile Edition
Mode - Streaming
Switch to Static Mode?

Price Highlight

Index Highlight

Chart
STI
3,127.7
5.2 (0.17%)

 

  • STI Straits Times Index
    3,127.7
    5.2 (0.17%)
     
  • KLCI FTSE Bursa Malaysia KLCI
    1,602.5
    7.9 (0.49%)
    Index delayed 15 minutes
  • HSI Hang Seng Index
    26,048.7
    -221.3 (-0.84%)
    Index delayed 15 minutes
  • SSE SSE Composite Index
    2,883.4
    3.1 (0.11%)
    Index delayed 15 minutes
  • N225 Nikkei 225
    20,628.0
    9.4 (0.05%)
    Index delayed 20 minutes
  • JCI Jakarta Composite Index
    6,239.2
    -13.7 (-0.22%)
    Index delayed 10 minutes
  • KOR KOSPI
    1,951.0
    -13.6 (-0.69%)
    Index delayed 20 minutes
  • XAO XAO
    6,593.0
    20.4 (0.31%)
     

SGX Market

Bursa Market

HKEx Market

SET Market

IDX Market

ASX Market

NYSE Market

NASDAQ Market

NYSE American Market

  • Volume: 792.8M
  • Value: 897.2M
  • Rise: 154
  • Fall: 151
  • Unch: 530

Intraday Market Ticker Help

Intraday Market Ticker
Time Name Type Price Vol
  • Top Active

  • Top Gainer

  • Top Loser

Top Counters
Name Last Change
LionGold0.001-
ThaiBev0.930+0.005
YZJ Shipbldg SGD0.930-0.035
SingTel3.240+0.050
Rex Intl0.076-0.001
MMP Resources^0.003-0.001
Kep Infra Tr0.515+0.005
Koh Eco0.052+0.001
RHT HealthTrust0.019+0.001
Frasers L&I Tr1.190-0.030

World Indices

World Indices
Name Last Change
Nasdaq 8,020.2 +71.7
HSI 26,048.7 -221.3
HSCEI 10,122.9 -54.4
Jakarta 6,239.2 -13.7
Nikkei 225 20,628.0 +9.4
SSE Comp 2,883.4 +3.1
Shanghai A 3,020.7 +3.3
Shanghai B 264.3 -0.5
PSE Comp 0.0
KOSPI 1,951.0 -13.6

Asian Indices delayed. US Indices updated twice daily at 7:30am and 7:30pm.

News - Detailed News Story

Trend for Venture Corp still bullish

02 Jul 2019 09:00

By Chua Wei Ren

VENTURE Corporation's stock price has been rising steadily since 2016. It broke the previous high of S$10.00, which is located at the wave "a" top. However, the stock price began to falter at the start of April when the stock did not manage to break the S$30.00 psychological level, let alone the high of S$32.00 two decades ago. This must be sad news for most technical traders because such price action indicates that the bull is weakening near its top and may potentially form a double top.

While the current price action of Venture shares may seem dismal, there is still potential in Venture. Based on the monthly chart, Venture is in a prolonged period of forming a range. As the saying goes, the market ranges 70 per cent of the time. In a range bound market, there is potential to buy low and sell high as the area of supply and demand is clearly marked out in the range. Often, traders look to buy near bottom of the range. Should the price movement reverse lower, the risk of stopping out is lowered.

Using Elliott wave analysis, Venture's wave will be a double three corrective wave. As seen from the chart, the dominant cycle wave of W and X (highlighted in bold red) has been completed, and currently, Venture is in wave Y. For wave Y to complete, there needs to be another three sets of wxy sub-waves (Highlighted in blue). The current stock price is rallying towards sub-wave x at S$21.42 (which is at 50 per cent of the Fibonacci retracement level of S$29.56 to S$13.18).

We should see Venture stock's price rising beyond the S$20.00 mark in the short term. In summary, the trend for Venture is still bullish, however, there may be periods of short term retracement over the next few years.


ShareInvestor subscribers have full access to this article. ShareInvestor subscriber, please login to read the 5 remaining paragraph(s).

Attachments: Source: Business Times
Disclaimer:

While reasonable efforts have been taken to ensure that the calculations performed by the features of this site are reliable, the features are provided on the basis that:-

  1. no liability is accepted for any errors or inaccuracies resulting from your use of these features;
  2. many of the data inputs (including share prices) are obtained from third party sources for which we assume no responsibility.