Zak Mir Video Blog On Bulletin Board Heroes: Blinkx, Evocutis and Hurricane Energy

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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:

Blinkx (BLNX)

For Blinkx we see the first sustained clearance of the 50 day moving average at 34.50p since the start of the year.

Near term support has been coming in towards this key moving average after a RSI buy signal in August.

The stop loss on the bull argument is an end of day close back below the 50 day moving average, while the target over the next 2-4 weeks is a return to the July gap floor at 45p.

Evocutis (EVO)

The current setup is most likely a mid move consolidation bull flag ahead of the expected partial or full retest of the 1.2p plus October  price channel top plus over the next 2-4 weeks.

The two day rebound off the 10 day moving average at 0.6p can be regarded as a buy signal for aggressive traders.

Only an end of day close back below the 10 day line cancels the prospect of a return to the best levels for Evocutis.

Hurricane Energy (HUR)

Shares of Hurricane Energy have been within a rising trend channel from April with the floor of the channel currently running at 38.75p

The best case scenario is that we have no end of day close back below the 38p floor of August and that while this is the case a push to the April price channel top of 60p on a 1-2 month timeframe.

Cautious traders would wait on an end of day close back above the 50 day moving average at 42.63p before taking the plunge on the long side.

ARE THE MARKETS OVER-VALUED?

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