Venture Global Soars 20.77% In 3 Days As Technicals Signal Bullish Breakout

Venture Global (VG) has demonstrated strong positive momentum in the recent session, surging 8.26% to close at 17.04. This marks the third consecutive trading day of gains, accumulating a 20.77% advance during this period, reflecting robust buying interest.
Candlestick Theory
The price action reveals significant technical developments. The three consecutive white candles (June 6–10) form a Three White Soldiers pattern, indicating strong bullish momentum following a Hammer reversal on June 3 (long lower wick, close near high after steep decline). Key resistance is established at 17.28 (June 10 high), while support emerges at 15.22 (June 6 close) and 14.28 (June 3 close). The June 5 session printed a shooting star (high at 15.05, close at 14.11), now invalidated by subsequent bullish momentum.
Moving Average Theory
The current price (17.04) trades decisively above the 50-day, 100-day, and 200-day moving averages, confirming a bullish trend reversal. The 50-day MA crossed above the 200-day MA (Golden Cross) in late May, signaling a long-term trend shift. Shorter-term averages are now sloping upward, reinforcing the bullish structure. The alignment suggests strong technical support near 14.50–15.00, where multiple moving averages converge.
MACD & KDJ Indicators
The MACD histogram shows accelerating bullish momentum, with the signal line maintaining its upward trajectory since mid-May. KDJ indicators are deeply entrenched in overbought territory (K and D > 90), reflecting extreme short-term strength. While this typically precedes consolidation, the MACD’s continued upward slope suggests the uptrend may persist. Divergence is absent, as both oscillators align with the price advance.
Bollinger Bands
Price is testing the upper Bollinger Band (17.20–17.30), which aligns precisely with the June 10 high. Bandwidth has expanded sharply during the 3-day rally, confirming increased volatility. Historically, such expansions preceded significant directional moves in April (breakdown) and February (peak). The current proximity to the upper band may induce short-term resistance, but a sustained breach could signal continuation.
Volume-Price Relationship
Recent gains are validated by rising volume: June 10 traded 8.15M shares versus 5.97M and 6.02M in prior sessions. Notably, the June 3 breakout (14.28 close, +21.12%) occurred on 18.07M shares—the highest volume since April’s sell-off. This volume signature confirms institutional participation, increasing the likelihood of trend sustainability. However, today’s volume remains below the June 3 peak, warranting caution.
Relative Strength Index (RSI)
The 14-day RSI reads 81, deep in overbought territory. While historically such levels preceded pullbacks (e.g., February peak at RSI 78), current momentum suggests overbought conditions could persist. No bearish divergence is observed, as RSI makes higher highs with price. Traders should note that RSI above 80 for extended periods may increase vulnerability to profit-taking near technical resistance.
Fibonacci Retracement
Applying Fibonacci levels to the major decline from 24.00 (January 24 peak) to 7.00 (April 7 trough):
- 38.2% retracement at 14.49 (recently surpassed)
- 50.0% level at 15.50 (now acting as support)
- 61.8% resistance at 17.51
Current price action approaches the critical 61.8% level (17.51), which aligns with the June 10 high (17.28) and upper Bollinger Band. This confluence creates a significant technical hurdle.
Confluence & Divergence Observations
Bullish confluence appears at 15.50–15.22, supported by the 50% Fibonacci level, 50-day MA, and volume-backed reversal candles. To the upside, 17.28–17.51 represents a critical resistance zone, combining Bollinger Band, Fibonacci, and recent price barriers. No significant bearish divergences exist among oscillators, though extreme RSI/KDJ readings and Bollinger Band extension suggest near-term exhaustion risk. The primary technical thesis favors bullish continuation, provided support at 15.50 holds, but advises vigilance for reversal signals at the 17.28–17.51 resistance confluence.