Venture Corp breaks out from recent consolidation on healthy volumes as interest returns after several broker upgrades. UBS latest to upgrade rating, to Buy from Neutral with $10.50 target, citing improved valuations, stronger margin growth as contract electronics manufacturer concentrates on higher-margin businesses. Move follows upgrade by CIMB yesterday to Outperform from Neutral with target at $10.54 on similar grounds.
With share price now above tight $8.50-8.71 band in place since beginning June, chances of near-term rebound to at least $9.00 (last breached in mid-May) looking better, especially if volume continues to pick up in coming sessions. Despite current gains, RSI shows stock still far from overbought levels, with ADX showing trend gaining strength.
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