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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:
Alba Mineral Resources (ALBA)
The shares have consolidated via an extended probe towards the floor of a July falling trend channel / 0.25p.
The likelihood now is that while there is no end of day close back below the November intraday low of 0.25p we shall see attempts at recovery.
Only cautious traders would wait on a clearance of the recent 0.4p resistance before targeting back to the November resistance zone at 0.7p plus.
Amur Minerals (AMC)
We have seen Amur Minerals shares rebound steadily from the floor of a broad 2013 price channel.
At least while above the 10 day moving average / December flag floor at 8p further upside could be seen.
The 2013 resistance line projection towards 15p plus could be a viable 1-2 month target if a relatively swift bull flag break can be achieved over the next few sessions.
ECR Minerals (ECR)
A fresh rally looks to be on the way after an extended rebound off a 2013 price channel floor at 0.17p.
A weekly close back above the 200 day moving average at 0.22p could be enough to deliver a sustainable rebound.
An end of day close back above the May resistance line at 0.25p is the buy trigger for cautious traders.
Paragon Diamonds (PRG)
The shares have rebounded from sub 3p and the floor of a wide 2013 rising trend channel.
The best way forward now is probably to look to buy into any weakness towards the former 2014 resistance towards 5p.
The best case scenario is a 2013 price channel top target of 8p plus over the next 1-2 months while there is no weekly close back below 5p.