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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:
Ariana Resources (AAU)
The sharp break through the 200 day moving average at 0.99p looks to be a major positive trend changing event.
Any weakness towards the 200 day moving average is currently regarded as a buying opportunity.
The top of a rising trend channel from May 2013 at 1.8p is regarded as the likely 1-2 month timeframe target.
Gulfsands Petroleum (GPX)
The break of 200 day moving average and end of day close back above the 50 day moving average at 54p flags a significant turnaround technically.
Above recent 200 day line and floor of a rising February price channel at 50p suggests a new bull phase is on tap.
The 2014 resistance line target is towards 75p by the end of September.
GCM Resources (GCM)
A sharp turnaround delivered by the shares this week from above former June resistance just below 30p.
The latest price action strength is backed by an extended RSI support line so far this year.
The upside is seen as being as high as the top of a rising April price channel at 57p over the next 1-2 months.
CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR 2H 2014