Zak Mir Video Blog On Bulletin Board Heroes: African Minerals, Audioboom and Sirius Petroleum
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 Minerals (AMI)
The shares are displaying a possible bear trap rebound from below the former September support at 15.44p, accompanied by bullish divergence in the RSI window from oversold levels.
While there is no end of day close back below the September low one would be looking for a return to the 50 day moving average at 28p.
Only cautious traders would wait on a clearance of the 20 day moving average at 19.93p as a break of the August wedge formation before going long.
Audioboom (BOOM)
Audioboom shares have been trading within a broadening triangle formation, which has been in place on the daily chart since the end of July.
The implied upside while the latest 14p gap floor remains in place is a return towards the top of the 2014 formation, as high as 22p over the next 2-4 weeks.
Only cautious traders would wait on a possible gap fill dip before taking the plunge on the upside to improve the risk / reward yet further.
Sirius Petroleum (SRSP)
The shares have delivered a sharp late September / early October bear trap reversal from below post 2013 support.
The best way forward now could be to look to support coming in towards the 50 day moving average at 2.83p.
Only an end of day close back below the 50 day line would delay the prospect of a top of March rising trend channel at 4.5p on a 1-2 month timeframe.
SEE ZAK PRESENT IN LONDON ON TUESDAY 21st OCTOBER
FOR MORE INFORMATION AND TO BOOK FREE TICKETS
Comments (0)