Zak Mir Video Blog On Bulletin Board Heroes: Alba Mineral Resources, Rose Petroleum, SolGold and XL Media

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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)

July’s unfilled gap to the upside continues to dominate the price action in a positive way.

The expectation is for the shares to build higher towards the top of a 2013 price channel at 1.4p over the next 1-2 months.

The stop loss on the bull argument is an end of day close back below the 50 day moving average at 0.58p.

Rose Petroleum (ROSE)

Shares of Rose Petroleum remain well placed within a rising trend channel from May.

The floor of a rising trend channel from May is at the 50 day moving average level of 3.13p

At this stage only back below the 50 day line delays the prospect of a return towards the May resistance line at 5p over the next 4-6 weeks.

SolGold (SOLG)

SolGold shares have delivered a higher second low for August at 5.5p and rebound off a falling May price channel floor at this level.

The best case scenario is that we have no end of day close back below the May price channel floor ahead of a retest of the 200 day moving average zone at 8.6p.

Only cautious traders would wait on a break of the 10 day moving average on an end of day close basis at 6.2p as a momentum buy trigger.

XL Media (XLM)

There has been persistent basing towards the 40p level since the middle of July.

The best case scenario is that we have no end of day close back below 61p / 10 day moving average ahead of a move towards the 2014 price channel top of 100p plus on a 1-2 month timeframe.

Cautious traders would merely look for a retest of post April 80p resistance as their target, with only back below the 50 day moving average at 51p being outright negative.

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