Venture Corporation is currently on a steep downtrend after its customer Phillip Morris International’s (PMI) slower 1Q18 growth of I Quit Ordinary Smoking (IQOS) e-cigarette products in its key market of Japan.
https://seekingalpha.com/article/4167755-philip-morris-really-just-lose-30-billion-market-value-week
Since 20 April 2018, Venture has be the top selling stock from institutions based on SGX Institutional and Retail fund flow weekly tracker.
http://www.sgx.com/wps/portal/sgxweb/home/marketinfo/market_statistics
From the above chart, Venture price is currently supported at $18.64 based on the resistance turned support on 30 Oct 2017.
The immediate resistance is at $19.76 and if the stock is able to break this resistance it will turn into a support line.
The next resistance will be at $21.45 which will turn to support if it is able to break as it did on 03 Jan 2018.
