CLICK THE IMAGE BELOW TO VIEW TODAY’S VIDEO
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:
African Consolidated Resources (AFCR)
The shares have consolidated via a higher low for late November versus last earlier in the month within a broadening triangle from March.
The likelihood now is that while there is no end of day close back below the 0.5p post October support zone we shall see a partial or even full retest of the 1.7p plus high of 2014 to date.
The timeframe for the upside argument is the next 4-6 weeks, with any weakness towards the 0.5p level regarded as a buy opportunity.
Amur Minerals (AMC)
We have seen Amur Minerals shares rebound sharply from the floor of a one year rising trend channel from this time last year.
At least while above the last 7.24p November peak we would be looking for further recovery.
The former 2013 resistance line projection as high as 11.75p could be a viable end of year target.
Camco Clean Energy (CCE)
A fresh rally looks to be in place after a higher November low above 4p versus September.
After the latest key reversal to the upside we would expect a test of the summer 2013 price channel top as high as 11p.
The 10 day moving average now at 6.16p needs to be held to back the idea of lasting recovery.
Savannah Resources (SAV)
The shares have retreated from a November double top through 6p.
The best way forward now is probably to look to buy into any weakness towards the 2014 range floor towards 4p, with only an end of week close back below this level delaying the prospect of further constructive moves.
An initial break of the 50 day moving average at 4.9p is regarded as a useful buy trigger for cautious traders.