Zak Mir Video Blog on Bulletin Board Heroes: Leni Gas & Oil, Sula Iron & Gold and Wildhorse 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:

Leni Gas & Oil (LGO)

The shares are attempting to regroup after a sharp decline from the failed gap fill attempt towards 6p of the May gap top towards this level last month.

While there is no end of day close back below the 50 day moving average at 2.32p one would be looking for a partial or even full retest of the best levels of last month.

Only back below the 2p September gap up floor would currently be outright bearish.

Sula Iron & Gold (SULA)

Sula Iron & Gold shares delivered incredible volatility from the end of September –  early October spike towards 3.5p.

The latest price action is an October bear trap rebound from below the September floor of 1.70p.

While there is no end of day close back below the 20 day moving average the upside for Sula shares could be a partial or even full retest of the 3.5p zone resistance from last month. The initial target is the 200 day moving average at 2.67p over the next 2-4 weeks.

Wildhorse Energy (WHE)

The rising RSI and extended base along a falling June price channel suggests that Wildhorse Energy shares may be building a base towards 0.25p.

The best way forward now is probably to look to buy into any weakness towards the June support line.

Above the 2014 price channel floor at 0.25p targets towards the main post summer support as high as 0.4p – 0.5p over the next month.

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