Zak Mir Video Blog On Bulletin Board Heroes: Gulf Keystone, Rare Earth Minerals and UK Oil & Gas

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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:

Gulf Keystone (GKP)

The shares have gone into a possible bullish falling wedge formation.

The persistent failure for Gulf Keystone towards the 10 day moving average at 74p is a concern.

While there is no end of day close back below the March support line at 60p it may be worth giving the benefit of the doubt to the recovery scenario.

Rare Earth Minerals (REM)

The charting picture is dominated by consolidation back towards the 1.5p support zone after July’s double top bull trap through the 2p level.

Above the 50 day moving average at 1.34p the shares can still be regarded as a buy on dips.

2.5p, at a May resistance line projection is currently the best case scenario on the upside.

UK Oil & Gas (UKOG)

Initial July resistance at 0.93p has come in as the support zone this month for UK Oil & Gas.

The latest price action is helped by a combination of the 50 day moving average / May price channel floor now at 0.98p

Momentum traders would be looking for an end of day close above the 1.20p initial resistance this week as their cue to go long.

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