Zak Mir Video Blog On Bulletin Board Heroes: ASOS, Gulf Keystone and Victoria 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:

ASOS (ASC)

The shares are a bear trap gap reversal from below 2,000p, with the latest technical trigger coming in the form of a bull flag breakout.

While there is no end of day close back below the initial October resistance at 2,320p one would be looking for a journey to the top of an August triangle at 3,100p plus by the end of next month.

Only back below the 50 day moving average at 2,239p would currently be outright bearish.

Gulf Keystone (GKP)

Gulf Keystone shares have been making progress after a bear trap from below the floor of a falling trend channel from June under 50p.

The latest price action is an attempt to head towards the September gap top at 81.75p.

While there is no end of day close back below the 50 day moving average at 65p the upside for Gulf Keystone should be towards the 80p plus resistance over the next month.

Victoria Oil & Gas (VOG)

The shares look to have finally rebounded off a double October bear trap from below the 200 day moving average at 1.31p.

The best way forward now is probably to look to buy into an end of day close above the 50 day moving average at 1.6p.

Only an end of day close back below the 200 day line would delay the prospect of a rebound to as high as the September resistance zone through 1.85p, with the 2014 price channel top at 2.1p in focus after that.

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