Zak Mir Video Blog On Bulletin Board Heroes: Aminex, Frontera Resources and Rare Earth Minerals
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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:
Aminex (AEX)
The shares are displaying a possible resumption of the summer break to the upside from above the 50 day moving average at 1.57p.
While there is no end of day close back below the 50 day line one would be looking to a retest of the 3p plus September resistance.
Only cautious traders would wait on a clearance of the 10 day moving average at 2.25p as a buy trigger for a new leg to the upside.
Frontera Resources (FRR)
Frontera Resources shares have been trading within a rising trend channel which has been in place on the daily chart since June, based just below the 50 day moving average at 0.92p.
The implied upside while the 50 day moving average remains in place as support is a return towards the initial October resistance / 1.4p over the next 2-4 weeks.
An extended April uptrend line in the RSI window based at 45 backs the positive momentum argument.
Rare Earth Minerals (REM)
The shares have delivered a sharp bear trap reversal from just above the former June support at 0.76p and more importantly, the floor of a May gap to the upside at 0.69p.
The best way forward now is to look to support coming in towards the 200 day moving average at 0.92p.
Only an end of day close back below the 200 day line would delay the prospect of a retest of the former September support at 1.32p over the next 2-4 weeks.
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