Zak Mir Video Blog On Bulletin Board Heroes: Afren, Castleton Technology and Sirius Minerals

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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:

Afren (AFR)

We are in the aftermath of massive unfilled gap to the downside through 120p – 140p region.

There is logical resistance towards 120p at the floor of the gap as best case scenario dead cat bounce target. But cautious traders could wait on 109p resistance line break.

An end of day close back below the 10 day moving average at 99p risks an 80p – 85p final downside target.

Castleton Technology (CTP)

There is a consistent looking rising trend channel on the daily chart from the early part of 2014.

The implied technical target over the next month is as high as 1.8p at the 2014 resistance line projection.

The initial stop loss on the buy argument is an end of day close back below the 20 day moving average at 1.22p.

Sirius Minerals (SXX)

We are in the aftermath of an early August false break to the downside below 10p.

The latest unfilled gap to the upside through the 200 day moving average at 11p underlines the bear trap effect.

The favoured upside destination is as high as 15p over the next 1-2 months on any lasting break of the December resistance line at 12p.

CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR H2 2014