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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:
Castleton Technology (CTP)
The shares are attempting to re-group after a sharp decline from the 2p plus zone in the past week.
While there is no end of day close back below the 50 day moving average at 1.29p one would be looking for a partial or even full retest of the best levels of this month to date.
Only back below the 200 day moving average at 1.06p would currently be outright bearish.
Ferrum Crescent (FCR)
Ferrum Crescent shares have been making progress after a bear trap from below the May 0.55p floor.
The latest price action should lead back to the post June resistance at 1.5p plus over the next 1-2 months.
While there is no end of day close back below the 10 day moving average at 0.44p the upside for Ferrum Crescent should be towards the late 2014 resistance.
Monitise (MONI)
The shares have delivered an extended base from the upper 20p’s in mid September. The recovery is backed by a month uptrend line in the RSI window.
The best way forward now is probably to look to buy into any weakness towards the initial October 30p resistance zone.
Only an end of day close back below the 10 day moving average at 29p would delay the prospect of a top of April price channel target at 45p. Only cautious traders can wait for a clearance of the 50 day moving average at 35p before assuming that the downtrend is over.
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