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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 (ABA)
July served up a 50 day / 200 day moving average golden cross buy signal.
New support for the start of August is at the top of the unfilled July gap at 0.5p
The top of the rising trend channel from the beginning of last year at 1.2p is the 1-2 month timeframe target.
Max Petroleum (MXP)
An unfilled gap to the upside back into a rising February price channel starts the week.
Above the 50 day line at 1.3p suggests a new bull phase is on tap to at least retest the 2014 price channel top at 2.5p over the next 1-2 months.
There is initial resistance is at the July intraday high of 1.54p.
Roxi Petroleum (RXP)
The latest rally triggered by an unfilled gap to the upside through the 200 day moving average last month.
The latest price action strength is backed by former initial July resistance at 10p becoming new support.
The upside is seen as being as high as the top of a rising July price channel at 18p over the next 1-2 months, while the 10p support zone remains in place.
San Leon Energy (SLE)
The latest recovery attempt kick started by an unfilled gap to the upside at the beginning of July.
A rising May price channel is backed by the 50 day moving average at 2.41p at its floor.
Above the 50 day moving average suggests the top of the May price channel at 3.5p could be hit as soon as the end of September.
CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR 2H 2014