Zak Mir Video Blog On Bulletin Board Heroes: ASOS, Hurricane Energy and Monitise

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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:

ASOS (ASC)

Finally, the shares achieve a sustained counter move to the massive breakdown seen earlier this year.

The bull argument in terms of the falling wedge breakout though the 20 day moving average level at 2,389p is backed by bullish RSI divergence in the oscillator window from last month.

Only an end of day close back below the 20 day moving averages suggests any extended delay to the upside scenario and a bottom of June gap target as high as 3,594p over the next 2-4 weeks.

Hurricane Energy (HUR)

Shares of Hurricane Energy deliver both a second higher low for August and a second rebound off the 50 day moving average – now at 40p.

The top of a rising trend channel from March at 60p remains the 1-2 months timeframe target.

The preferred stop loss is an end of day close back below the initial August floor at 37p.

Monitise (MONI)

A narrow bear trap rebound for August from just below the July floor at 38.5p triggered the latest recovery for Monitise shares.

The best case scenario is that we have no end of day close back below the 20 day moving average at 42p ahead of a new rally.

The favoured upside over the next 2-4 weeks is the top of a falling trend channel from April at 57p, with a best case scenario target at the 200 day moving average of 61p.

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