Zak Mir Video Blog On Bulletin Board Heroes: Hurricane Energy, Iofina and Leyshon 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:

Hurricane Energy (HUR)

The latest move higher is surprise show of strength given the Crude Oil price, but looks solid while the 14.36p

The favoured upside at this stage is as high as the 23p zone / 50 day moving average towards 23p.

At this stage only sustained price action back below the November floor would indicate that we are looking at an intermediate rebound, despite the extended October RSI support line.

Iofina (IOF)

December has so far delivered a bear trap rebound from below the November 33.5p floor.

The latest break back above the November low could at least take Iofina shares back towards the 2014 triangle top / 50 day moving average at 41.5p.

The favoured best case scenario destination over the next 1 to 2 months after the 50 day line is broken is as high as the 50p plus 200 day moving average. The stop loss is an end of day close back below the 33.5p November low.

Leyshon Energy (LEN)

A fresh rally looks to be on the way after a massive Wednesday key reversal to the upside from the floor of a falling 2014 price channel at 2p.

The chances now are that while there is no end of day close back below the 2p level we shall see a break through the 200 day moving average as high as 3.63p over the next month.

Only cautious traders would wait on a clearance of the 50 day moving average at 2.57p, despite the latest double bounce off the November RSI support line.