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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:
Bahamas Petroleum (BPC)
Best case scenario target now on offer over the next 1/2 weeks is the 4.5p plus zone at the top of a 2014 price channel.
An end of day close back below the May resistance zone of 4p is a decent risk / reward stop loss.
Only back below the latest gap floor at 3.4p would be outright bearish currently.
Centamin (CEY)
The shares have delivered a very healthy 200 day moving average rebound to leave them in a position to rebound within a rising trend channel from December.
The top of the December rising trend channel towards 80p is the implied 1/2 month technical target.
The stop loss is an end of day close back below the 200 day moving average at 59p for cautious traders.
UK Oil & Gas (UKOG)
Shares of UK Oil & Gas once again in place to resume the summer rally.
The main objective for bulls of the stock is hold a May line of support / 50 day moving average at 1.30p.
The favoured stop loss is an end of day close back below the latest swing low at 1.2p ahead of a 2014 resistance line target of 2p.
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