Is it safe to Venture?

If you are thinking of jumping into Venture at this moment, it may be advisable to wait for a pullback to the $10.80-$11 mark. The $12 resistance level is where the previous support level is and will be a formidable resistance in the short term. You can see that the doji on 10 August fails to close above that $12 level as well. The doji coupled with overbought indicators may indicate possible short term correction. If it can cross the $12 barrier, it will enter into a strong resistance zone where the next target is at $13.

Venture was a good stock in the past (where price >S$20 in the past) but as it grow bigger, it had difficulty showing the kind of growth which investors have been accustomed to. That is why it faced selling pressures for the last 2.5 years since Jan 2004. Now it is trying to seeks new area of growth through acquistions and has bought into DMX and it is now trying to acquire GES.