Venture Technical Analysis - Down trend

Continued from 2 weeks ago, Venture bounces of the 20MA and resume its down trend. Overall market condition is still no good for consumer electronics. With the threat of recession, it may not see any near term turn around. However, the US bail out which should be passed soon, will provide some relief to the counter. It may break the 20MA and meet the 50MA. However, this will be short lived as longer term trend should still favors downward movement.


Snapshot of Venture Corp's chart as of 26th September 2008. There is indication of over sold and potential for some short term bounce. However, any trade into this should be short and quick.

Price Trend - Venture Corp

I am expecting further down trend for Venture Corp. Firstly the electronics market seems to be heading for some kind of slow down. Nasdaq is also experiencing some strain recently. Secondly, from the technical analysis, it has bounce off 200MA and then 50MA and 20MA. The pattern seems to resemble what some people called "the kiss of death". But they are not exactly the kiss of death since it did have the kind of sudden surge in price and sudden fall within the same day.



Waiting to see if it will bounce off the 20MA again.

Stock Market Major Trend is Still Down

Yesterday, Dow Jones and S&P gave up all their gains since the rescue of Freddie Mac and Fannie Mae due to the uncertainty facing Lehman Brothers. The market experience continuing selling pressure until near towards closing. This morning, STI followed and give away over 3.1% to close at 2541.  At the rate it is going, I won't be surprise if it hit below 2000.

Market is expecting more troubles to come and Merryll Lynch has been siad to be next in sight. With such market sentiment, it would be safer to stay at the side line for long term investors. This is a day-Traders'  environment. You need to be fast and nimble. No time for careful thinking if you are playing the market now.

Today, I am expecting US market to have some further selling.

STI Market Direction in near Term

After the rally from the rescue of Freddie Mac and Fannie Mae, can the market sustain the up trend or will it succumb to the general market down trend again?