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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:
Bowleven (BLVN)
Price action remains pressured by the post November unfilled gap to the downside.
Extended basing towards low 30ps.
Above 50 day moving average at 33p suggests eventual 200 day moving average zone target at 42p plus during the rest of June.
Nighthawk Energy (HAWK)
Recovery within wide April 2013 price channel based at 200 day moving average level of 10p.
Latest extended bull flag suggests mid move consolidation ahead of fresh leg higher.
Implied “minimum” 18p target at the top of a rising 2013 price channel while above the 50 day moving average at 11.49p.
Range Resources (RRL)
Latest approach on 200 day moving average.
Recovery after extended and severe bear run.
Best case scenario near term is a test of resistance at the November price channel top of 1.7p over the course of June.
Rose Petroleum (ROSE)
Likely pennant / continuation formation in place at the moment at 2.4p.
Implied mid move consolidation could reach to measured move target of 4p.
Buy trigger will be a break of the recent resistance line towards 2.8p.
CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR 2H 2014