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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:
Angle (AGL)
The daily chart is dominated by a rising trend channel from December.
Ideally, the recent consolidation towards 70p since May is now complete and a return to the best levels of the year to date as high as 100p is likely over the next 2-4 weeks.
An end of day close back below the 200 day moving average at 83p is the preferred stop loss currently.
Oilex (OEX)
The charting picture is dominated by a one year rising RSI support line and the latest rebound off the floor of a rising trend channel from March.
Above the 50 day moving average at 7.91p points to a test of the 2014 resistance line projection at 14p for Oilex.
Any weakness towards the 50 day moving average is currently regarded as a buying opportunity.
Quindell (QPP)
Recent 138p floor on Quindell smacks of a selling climax, with a subsequent rebound off the floor of a bullish falling wedge formation in place on the daily chart for much of 2014.
The latest price action is backed by a rebound off a June RSI support line near the oversold 30 level.
Momentum traders would be looking for an end of day close above a May resistance line / 10 day moving average at 179p as their cue to go long.
Valirx (VAL)
An April / May bear trap from below former December support triggered the latest recovery for shares of Valirx.
The latest price action is backed by a rebound off the 200 day moving average now running at 0.33p.
The chances are that while above the former 0.4p July resistance zone the shares shall head towards the implied November resistance line projection target as high as 0.6p plus over the next 1-2 months.
CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR H2 2014
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<p>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.<br />
<br />
Here are the key points from today’s video:</p>
<p><strong>Angle (<a href=”http://www.bulletincentral.co.uk/?T=AGL”>AGL</a>)</strong></p>
<p>The daily chart is dominated by a rising trend channel from December.</p>
<p>Ideally, the recent consolidation towards 70p since May is now complete and a return to the best levels of the year to date as high as 100p is likely over the next 2-4 weeks.</p>
<p>An end of day close back below the 200 day moving average at 83p is the preferred stop loss currently.</p>
<p><strong>Oilex (<a href=”http://www.bulletincentral.co.uk/?T=OEX”>OEX</a>)</strong></p>
<p>The charting picture is dominated by a one year rising RSI support line and the latest rebound off the floor of a rising trend channel from March.</p>
<p>Above the 50 day moving average at 7.91p points to a test of the 2014 resistance line projection at 14p for Oilex.</p>
<p>Any weakness towards the 50 day moving average is currently regarded as a buying opportunity.</p>
<p><strong>Quindell (<a href=”http://www.bulletincentral.co.uk/?T=QPP”>QPP</a>)</strong></p>
<p>Recent 138p floor on Quindell smacks of a selling climax, with a subsequent rebound off the floor of a bullish falling wedge formation in place on the daily chart for much of 2014.</p>
<p>The latest price action is backed by a rebound off a June RSI support line near the oversold 30 level.</p>
<p>Momentum traders would be looking for an end of day close above a May resistance line / 10 day moving average at 179p as their cue to go long.</p>
<p><strong>Valirx (<a href=”http://www.bulletincentral.co.uk/?T=VAL”>VAL</a>)</strong></p>
<p>An April / May bear trap from below former December support triggered the latest recovery for shares of Valirx.</p>
<p>The latest price action is backed by a rebound off the 200 day moving average now running at 0.33p.</p>
<p>The chances are that while above the former 0.4p July resistance zone the shares shall head towards the implied November resistance line projection target as high as 0.6p plus over the next 1-2 months.</p>
<p><strong>CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR H2 2014</strong></p>
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