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Zak Mir video blog on bulletin board heroes Afriag, Bowleven and Stellar Resources
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:
Recent double bounce off one year falling price channel floor.
Consolidation flag at and above the 50 day moving average at 0.43p.
Top of post February range towards 1p on tap over next 1-2 months while 50 day line is held.
Sharp gap to the upside largely filled after farm out news yesterday.
Some risk of another false dawn here / sub 40p would underline such a possibility.
Above 40p still targets top of January price channel at 50p.
Stellar Resources (STG)
Run up to imminent 50 day / 200 day moving average golden cross buy signal.
Above former May peak at 0.7p should see share price accelerate towards 2013 price channel top of 1.2p over the next 1-2 months.
Only sustained price action back below the 200 day line now considered outright bearish.
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