CLICK THE IMAGE BELOW TO WATCH 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:
Sharp rebound since initial June gap to the upside through 33p.
Above 10 day line suggests return towards 2014 price channel top at 50p within days.
Cautious traders would wait on 200 day moving average at 42p to accelerate price action.
Gulf Keystone (GKP)
Decent bear trap rebound from below former April support at 81p.
While above April floor targets initial 50 day moving average target at 92.875p.
Only above 50 day line suggests sustained recovery at this stage.
Xcite Energy (XEL)
Latest rebound off May gap floor at 65p is helpful.
Possible triple bottom reversal below 65p.
Ideally bulls wait for sustained 50 day moving average break at 70p before targeting 90p plus range highs again.
CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR 2H 2014