Zak Mir Video Blog On Bulletin Board Heroes: Bushveld Minerals, Great Western Mining and Union Jack 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:

Bushveld Minerals (BMN)

The shares have recovered after an October bear trap from below 3p with a vertical move.

The 20 day moving average at 3.22p is the preferred end of day close stop loss.

While there is no end of day close back below the 20 day moving average one would be looking to a journey to the top the December price channel at 5.5p by the end of next month.

Great Western Mining (GWMO)

Inverted head & shoulders formation adds to the saucer bottom impression on the daily chart.

The latest price action is a bull flag breakout through initial October resistance at 1.3p.

While there is no end of day close back below the initial October resistance the upside for the shares should be towards the January price channel top at 3p plus over the next 1-2 months.

Union Jack Oil (UJO)

The shares look to have rebounded well off the floor of a notional range between 0.30p – 0.50p.

The best way forward now is probably to look to buy into any weakness towards the 200 day moving average fractionally below 0.3p.

Only an end of day close back below the late 2013 price channel floor would delay the prospect of a rebound to as high as 0.5p plus zone over the next 1-2 months.

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