Zak Mir Video Blog On Bulletin Board Heroes: Bacanora Minerals, Gulf Keystone, Octagonal and Solo Oil

CLICK HERE TO VIEW TODAY’S VIDEO

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:

Bacanora Mineral (BCN)

We have a relatively clear set up on the Bacanora Minerals daily chart even though there is limited historical data.

Near term support is seen as coming in towards floor of a W shaped reversal formation just below 70p level on the daily chart.

The stop loss on the bull argument is an end of day close back below the July support line at 69p, while the upside is towards range highs through 95p over the next 2-4 weeks.

Gulf Keystone (GKP)

There is an opportunity to go long of Gulf Keystone at the floor of a one month price channel at 75p, especially so given recent hammer daily candles.

The latest rebound should lead back towards the top of the August price channel at 95p over the next 2-4 weeks.

Only cautious traders would wait on an end of day close back above the 10 day moving average at 80p before going long, while the stop loss on the buy argument can be as tight as an end of day close back below 75p.

Octagonal (OCT)

Shares of Octagonal have delivered a very positive and extended consolidation since a June spike towards 0.6p.

The best case scenario is that we have no end of day close back below the 50 day moving average now at 0.45p before a new leg towards the April price channel top at 0.7p.

The stop loss on the buy argument is back below the 2014 uptrend support line at 0.4p.

Solo Oil & Oil (SOLO)

There has been persistent positive consolidation in the 0.3p to 0.4p zone since a spike for the stock through the 200 day moving average now at 0.24p.

The latest break through the top of the post June range at 0.4p suggests a significant new leg to the upside is on its way towards a 2012 price channel top of 0.8p over the next 1-2 months.

Only a weekly close back below the 0.4p zone would even begin to delay the upside scenario.

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