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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)
The favoured upside is towards the February price channel top as high as 43p over the next 6-8 weeks.
The stalling towards the 35p 2014 uptrend line may finally be coming to an end.
An end of day close back below the August 32p initial low is the stop loss here.
Oilex (OEX)
The wind down from the July double top through 12p looks to be complete.
August price action to date has consisted of probes for support towards the March price channel floor / 50 day moving average at 8.34p. An end of day close below the 50 day moving average is the technical stop loss.
The implied technical target over the next month is as high as 14p, with a buy trigger for cautious traders being an end of day close back above the 20 day moving average at 9.88p.
SolGold (SOLG)
A higher low for August towards 6p looks to be the platform for a fresh attempt at ending the bear run for 2014 to date.
The best case scenario upside on offer currently is a journey to the February price channel top / 200 day moving average – as high as 8.78p over the next 4-6 weeks.
Only back below initial August support / 5.5p would really be negative enough to cancel the bull argument here.
CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR H2 2014