Zak Mir Video Blog On Bulletin Board Heroes: Alba Mineral Resources, San Leon Energy and Union Jack Oil

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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)

For Alba we see the shares supported by a massive unfilled gap to the upside from July, which is a  very strong technical signal.

Near term support should come in towards the key July resistance at 1.05p.

The stop loss on the bull argument is an end of day close back below the 10 day moving average, while the target over the next 4-6 weeks is a journey to the 2013 price channel top of 1.5p plus.

San Leon Energy (SLE)

The current setup is most likely a mid move consolidation bull flag ahead of the expected partial or full retest of the 5p plus March price channel.

An end of day close back above the 200 day moving average at 3.35p can be regarded as the momentum buy trigger for cautious traders.

Only an end of day close back below the 10 day line cancels the prospect of a return to the early 2014 resistance for San Leon.

Union Jack Oil (UJO)

Shares of Union Jack Oil have been within a rising trend channel from May with the floor of the channel currently running at 0.3p.

The best case scenario is that we have no end of day close back below the May price channel floor and that while this is the case a push to the 2014 price channel top of 0.5p plus on a 1-2 month timeframe.

Cautious traders would wait on an end of day close back above the 0.35p near term resistance before taking the plunge on the long side. The stop loss on the long argument is a weekly close back below the 200 day moving average at 0.28p.

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