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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:
Weekly close above the 200 day moving average at 39.5p.
Implied journey back to the February price channel top at 50p possible in the coming weeks.
50 day moving average at 37.7p is a favoured stop loss.
Hurricane Energy (HUR)
Latest rebound off a rising trend channel from April at 40p.
Stop loss on the buy argument currently the July 37p intraday support.
Top of 2014 price channel target, as high as 58p on 1-2 month timeframe.
Rose Petroleum (ROSE)
June support above former March resistance reinforces a positive chart structure.
Implied support towards the 20 day moving average / May price channel floor at 2.75p.
Best case scenario towards 5p as soon as the end of August.
San Leon Energy (SLE)
Consolidation within rising May price channel above this month’s unfilled gap to the upside.
Implied support towards 50 day moving average at 2.45p.
200 day moving average at 3.5p plus is the end of August target.
CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR 2H 2014