Zak Mir Video Blog On Bulletin Board Heroes: Amedeo Resources, Forte Energy and Petropavlovsk

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:

Amedeo Resources (AMED)

The shares have rebounded off the 0.5p level, which is also extended October support at the floor of a February price channel.

The likelihood now is that while there is no end of day close back below the 50 day moving average at 1.67p there could be further upside.

While there is no end of day close back below the 50 day moving average the upside could be as great as the 2014 resistance line at 1.6p over the next 1-2 months.

Forte Energy (FTE)

Forte Energy shares have bounced off a one year price channel floor running down to 0.10p.

The latest price action suggests a rebound back towards the top of the 2013 price channel / 200 day moving average at 0.32p over the next 2-4 weeks.

Cautious traders would wait on a clearance of former October support at 0.2p before taking the plunge on the upside.

Petropavlovsk (POG)

The shares look to have rebounded well off the floor of a December price channel floor / 20 day moving average at 22.65p.

The best way forward now is probably to look to buy into any weakness towards the 20 day moving average.

An initial target towards 30p this month, and a best case scenario move to the 2013 price channel top at 40p for the end of the year appear to be on the cards.

GET YOUR FREE COPY OF DOMINIC PICARDA’S GUIDE TO TECHNICAL ANALYSIS – CLICK THE IMAGE BELOW