CLICK THE IMAGE BELOW 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:
Bezant Resources (BZT)
The shares have gapped back into a falling 2013 price channel.
While there is no end of day close back below the 50 day moving average at 5.21p one would expect an intermediate revival.
The favoured upside over the next 2-4 weeks is back towards the 2013 resistance line as high as 10p plus.
Nostra Terra Oil & Gas (NTOG)
An extended line of support from December running at 0.26p backs the buy argument at Nostra Terra.
The latest price action is a higher low for November, typically a decent reversal signal.
While there is no end of day close back below the December support line the upside here could be back towards the 0.4p plus 2014 range highs over the next month.
Quindell (QPP)
The rising RSI and extended base along a falling June price triangle suggests that we are due at least an intermediate rally.
The best way forward now is probably to look to buy into any weakness towards the latest 120p November floor.
Only below the 120p level on an end of day close basis delays the prospect of a 50 day moving average retest at 154p over the next 2-3 weeks.
Tethys Petroleum (TPL)
The October bear trap gap reversal and subsequent bull flag above the 10 day moving average at 15p gives us the latest setup at Tethys Petroleum.
The bull argument suggests that the upside here could be towards the May price channel top / 200 day moving average at 23p.
Above the 2014 price channel floor one would assume a lasting base has been established for Tethys Petroleum.
GET YOUR FREE COPY OF DOMINIC PICARDA’S GUIDE TO TECHNICAL ANALYSIS – CLICK THE IMAGE BELOW