Zak Mir Video Blog On Bulletin Board Heroes: Beacon Hill Resources, Greatland Gold and Rose Petroleum
Zak Mir Video Blog On Bulletin Board Heroes: Beacon Hill Resources, Greatland Gold and Rose Petroleum
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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:
Beacon Hill Resources (BHR)
The shares have gone into what could be basing mode after an “exhaustion” gap to the downside in September.
While there is no end of day close back below the April support line one would be looking for a return to the top of the early 2014 wedge formation at 0.3p on a 4-6 week timeframe.
Only cautious traders would wait on a clearance of the September gap floor at 0.2p before going long.
Greatland Gold (GGP)
Greatland Gold shares have been trading within a broadening triangle in place on the daily chart since March.
The implied upside while the 2014 support line at 0.2p remains in place is a return towards the main 200 day moving average resistance at 0.44p over the next 1-2 months.
Only cautious traders would wait on a clearance of the 50 day moving average at 0.3p before going long.
Rose Petroleum (ROSE)
The shares have made decent progress since May within a rising trend channel.
The best way forward now could be to look to support coming in towards the 50 day moving average at 3.28p.
Only a weekly close back below the September support at 3p would delay the upside scenario and an implied 5.75p target over the next 1-2 months.
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