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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:
Black Mountain Resources (BMZ)
Bullish falling wedge pattern breakout through 2p.
Extended October support line in RSI window, with rebound from deeply oversold levels.
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Implied return towards 4p – 5p zone.
Rare Earth Minerals (REM)
Rising 200 day moving average at 0.6p finally dragged stock higher.
Stop loss on buy argument towards today’s gap top at 0.69p.
Implied target over 4-6 weeks as high as 1.5p.
Tower Resources (TRP)
Overall broadening triangle formation.
Latest rebound off formation floor towards 2p.
Above 2p could lead back to 2014 resistance at 6p plus.
CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR 2H 2014