By Zak Mir.
Top Traded Tiddlers!
A technical look at some of the most actively traded small caps of the moment, which includes Rare Earth Minerals, Motive Televisions, and Bushveld Minerals.
Rare Earth Minerals (REM):
- Painful aftermath of initial false 1p neckline resistance break.
- Support so far coming in at the floor of a rising trend channel from August at 0.8p.
- Allow down to 0.7p ahead of likely 1.5p post September resistance retest during November.
Motive Television (MTV):
- Recent failure to sustain 200 day moving average at 0.021p
- Still uncertainty as to whether post September 0.045p resistance can be retested.
- August RSI trend line break could be a leading indicator on a fresh support test below 0.02p.
- Momentum traders would wait on October resistance break through 0.03p before going long again.
Bushveld Minerals (BMN):
- Broadening triangle from October last year based at 3p.
- Double rebound off triangle over past month.
- Likely sustained rebound on an end of day close back above 20 day moving average at 3.63p.
- Target towards 6p July support on a 20 day moving average clearance.