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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:
Berkeley Mineral Resources (BMR)
Sharp rebound off the floor of a falling 2013 price channel towards 1p.
Above 200 day line suggests a move towards the 2013 resistance line, as high as 3p over the next 4-6 weeks.
Ideally, no sustained weakness back below the 200 day line ahead of further gains.
Frontera Resources (FRR)
Sharp spike higher after consolidation either side of the 200 day moving average, now at 0.71p.
Some risk of another false dawn here of the type seen in early 2013.
Only well below September 0.85p resistance suggests another false move and 1.5p target on its way over the summer.
Mature bull run within 2 year rising trend channel.
Above 20 day line suggests return towards 2012 price channel top at 9p over next 4-6 weeks or less.
Ideally, dips towards 20 day moving average can be bought into to improve risk / reward of going long.
CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR 2H 2014