Zak Mir Video Blog On Bulletin Board Heroes: Fitbug, LGO Energy, Rare Earth 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:

Fitbug (FITB):

December so far has delivered an island bottom reversal based at the 50 day moving average at 7.89p, above the former November gap floor at 6.19p.

The latest price action should lead to a retest of the December 15p plus resistance.

Only sustained price action below the 50 day line is seen as being threatening to the recovery argument at this stage.

LGO Energy (LGO):

LGO Energy shares have behaved well technically after a bear trap rebound from below former October 3p support.

The latest bull flag based at the 50 day moving average at 4.12p gives us a useful end of day close stop loss feature.

A retest of the main 6p plus 2014 resistance is expected over the next 2-4 weeks while the 50 day line is sustained.

Rare Earth Minerals (REM):

The shares have been able to re-establish the bull argument after a narrow December bear trap rebound from below the former October 0.77p floor.

The latest price action breaks both the 50 day and 200 day moving averages in a sharp fashion.

Above the 20 day moving average at 0.96p one would expect to see a retest of post October resistance above 1.4p over the next 2-4 weeks.