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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):
After a vertical push through the 200 day moving average in September, now at 1.3p, Aminex shares have consolidated within a rising trend channel based towards 1.5p.
The latest price action could mean a move towards the September resistance zone at 3p plus.
The stop loss at this point is seen as being the 50 day moving average at 1.95p on an end of day close basis.
Rose Petroleum (ROSE):
Shares of Rose Petroleum have delivered a double bear trap rebound from below the former June support at 1.5p.
The best way forward now is probably to look to buy into any weakness towards the June floor.
Only cautious traders would wait on a clearance of the 20 day moving average at 1.83p on an end of day close basis before targeting the 200 day moving average at 2.32p over the next 2-3 weeks.
Solo Oil (SOLO):
We have an unfilled gap to the upside in the wake of this month’s bear trap rebound from below the 200 day moving average at 0.42p.
While above the 200 day moving average the upside could be towards the main 1p plus 2014 resistance over the next 4-6 weeks.
An end of day close back above the 50 day moving average at 0.6p is the buy trigger for cautious traders.