Zak Mir Video Blog On Bulletin Board Heroes: Bowleven, Monitise, Minco and Xcite Energy

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Spreadbet Magazine editor Zak Mir takes a look at the technical position of some of the bulletin board stocks of the moment amongst private investors.

Here are the key points from today’s video:

Bowleven (BLVN)

The pullback from the sharp June bull trap through 45p continues.

Ideally, the floor of a rising trend channel from February at 32.5p will end the recent reversal.

An end of day close above the initial June gap floor at 34.5p will be a decent recovery trigger for a return to 40p plus.

Monitise (MONI)

The shares have delivered an apparent narrow bear trap rebound from below the July 38.5p intraday low.

Above the July floor could trigger a recovery back towards the 47p / July gap top.

A weekly close back above the last 47p July resistance is required to finally get Monitise back in recovery mode.

Minco (MIO)

Minco shares deliver a narrow bear trap rebound from just below 1.61p July support, accompanied by bullish RSI divergence.

The latest price action could deliver an initial retest of the 200 day moving average at 2.39p later this month.

Only back below the initial August floor risks delaying the recovery scenario.

Xcite Energy (XEL)

Could it be fourth time lucky for Xcite Energy, with a sustained recovery from the post March 60p support zone?

The latest price action is a rebound off an extended March RSI uptrend line at 40.

The implied target is as high as a retest of the 70p plus July bull trap resistance over the next 2-4 weeks.

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