Zak Mir Video Blog On Bulletin Board Heroes: Blinkx, Mariana Resources and Solo Oil

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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)

The initial post July gap down target of 45p at the floor of the gap is hit.

The near term support for the shares is coming in towards the present level of the 20 day moving average at 37p and is the preferred end of day close stop loss.

Above the 20 day line the initial target for Blinkx is a return to the 45p zone, but only a weekly close above the gap floor opens up a return to pre July resistance at 60p plus.

Mariana Resources (MARL)

We have a probable September selling climax gap to the downside and subsequent gap fill towards 2p which could be the start of a sustained recovery after the false August floor.

Above the 2p level suggests a wedge reversal and possible return to the pre June resistance at 4p plus, backed by a bullish divergence line from last month in the RSI window.

Cautious traders would wait on an end of day close back above the 2p level / August resistance, before taking the plunge on the long side.

Solo Oil (SOLO)

The shares look to have stabilised after a sharp pullback from recent highs towards 1.2p.

The floor of the September gap to the upside at 0.7p has so far not been filled, while the rebound off the 10 day moving average at 0.77p provides a near term buy signal.

Only an end of day close back below the gap at 0.7p cancels the prospect of a rally to retest the 1.2p zone over the next couple of weeks.

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