Venture Global Slumps 3.45% to 12.58 Amid Bearish Technical Breakdown

Venture Global declined 3.45% in the latest session, closing at 12.58 on elevated volume, reflecting ongoing bearish pressure. The stock now trades near August’s pivotal lows, signaling critical technical thresholds.
Candlestick Theory
Recent price action reveals a bearish trajectory marked by significant red candlesticks, including the October 7th long-bodied candle (-7.53%) confirming distribution. The October 9th close near the session low (12.58 vs. low 12.46) underscores persistent selling interest. Key resistance is firmly established at 14.82 (October 2nd peak), while immediate support emerges at 12.46 (current swing low), aligning with the August 15th trough of 12.45. A breach below 12.45 may trigger accelerated downside toward 11.50–11.80.
Moving Average Theory
The 50-day and 100-day moving averages exhibit pronounced bearish sequencing, with the 50-day (approximately 13.80) positioned below the 100-day (near 14.20). Both averages slope downward, confirming intermediate-term bearish momentum. The current price trades significantly below these averages, reinforcing resistance near 13.80–14.20. The 200-day average (around 14.50) caps recovery attempts, sustaining the primary downtrend.
MACD & KDJ Indicators
MACD lines remain submerged below the zero line with a widening negative histogram, indicating strengthening downward momentum. Meanwhile, KDJ oscillators reflect oversold territory (K and D near 20), but without bullish divergence. While this signals potential short-term exhaustion, the lack of reversal confirmation implies bearish dominance could persist. KDJ’s failure to trigger buy signals during recent bounces highlights underlying weakness.
Bollinger Bands
Bollinger Bands expanded sharply during October’s sell-off, reflecting rising volatility. Price currently hugs the lower band (near 12.30), typically an oversold signal. However, the absence of reversal patterns and the band’s downward slope caution against premature bullish interpretations. A sustained close below the lower band may signal capitulation, while a mean-reversion toward the 20-day midline (13.50) could face heavy resistance.
Volume-Price Relationship
Downside moves display consistent volume validation, notably the October 7th decline (-7.53%) on 8.84M shares—the highest in three months. Conversely, upside attempts (e.g., October 8th +1.01%) occurred on below-average volume (5.07M), undermining recovery sustainability. Accumulation/distribution metrics skew negative, with elevated volume on down days affirming seller control.
Relative Strength Index (RSI)
The 14-day RSI reads 33, approaching oversold territory (<30) but not yet signaling exhaustion. While this hints at potential near-term stabilization, it remains above the oversold threshold and lacks bullish divergence. RSI’s failure to breach 30 during prior declines (e.g., August) suggests additional downside room exists. A reversal would require RSI recovery above 50 alongside price confirmation.
Fibonacci Retracement
Applying Fibonacci to the recent downswing (October 2nd high 14.82 – October 9th low 12.46) identifies retracement levels at 13.02 (23.6%), 13.36 (38.2%), and 13.64 (50%). These levels now serve as resistance zones. The 38.2%–50% band (13.36–13.64) is particularly critical, coinciding with the 50-day moving average and July–August swing lows. A decisive close above 13.64 would challenge the bearish structure.
Confluence & Divergence
Confluence supports bearish bias: Price resides below all key MAs, MACD/KST show no divergence, and volume confirms downtrends. Oversold RSI and Bollinger Band proximity offer the sole counter, but absent reversal catalysts. Notable divergence occurs between oversold KDJ and the absence of bullish MACD crossover, suggesting rallies remain vulnerable. A break below 12.45 with volume could target the 61.8% Fibonacci extension near 11.75, whereas recovery above 13.64 would warrant reassessment.