We have seen some pretty heavy sell down in Venture with the 25.00 support breaking down over the past few days…
This was mainly on the back of news of one of its biggest clients Philip Morris reporting a poor set of results..
Some downside targets were drawn this morning with a potential break down below the 22.00 level …
Targets was towards 20.00 where hopefully some bargain hunting coming back…
Seems like the break down has occurred indeed and there are some buyers coming back near 20.00 for now…
Short covering probably due to this heavy sell own normal which is normal..
There can be some short term technical rebound from 20.00 now like we are seeing…
However, would want to be careful to catch any bottom till we see some stability….
And possibly a reversal price action….
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