Zak Mir Video Blog On Bulletin Board Heroes: Castleton Technology, Fitbug and Roxi Petroleum

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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:

Castleton Technology (CTP)

The shares have built higher with a rising trend channel from March.

The key near term event has been a break of August 1.5p resistance above which we are looking at a very constructive picture.

While there is no end of day close back below the initial support of Tuesday at 1.77p the upside here could be as great as a November 2.77p resistance line projection.

Fitbug (FITB)

The near vertical ascent of recent sessions leaves the shares extremely overbought and in need of a retracement.

The latest price action suggests a dip towards the former 3 year resistance in the 3p – 3.5p zone.

The best case scenario on offer at the moment is probably towards the 2011 resistance line projection at 5.5p over the next 1-2 weeks.

Roxi Petroleum (RXP)

The shares look to have rebounded well off the floor of a notional range towards 10p since the summer.

The best way forward now is probably to look to buy into any weakness towards the 10 day moving average at 13p.

A 20p plus range top target over the course of November looks to be on the cards while Roxi Petroleum shares hold the July price channel floor.

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