Zak Mir Video Blog On Bulletin Board Heroes: Circle Oil, Mariana Resources, Rose Petroleum and Roxi Petroleum

CLICK THE IMAGE BELOW TO VIEW 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:

Circle Oil (COP)

The overall broadening triangle from March 2013 suggests an eventual target towards 30p over the next few weeks.

The bull argument is added to by the latest support above the 200 day moving average at 21.32p in the wake of a massive unfilled gap to the upside.

Only an end of day close back below the 200 day moving averages suggests any extended delay to the upside scenario.

Mariana Resources (MARL)

Shares of Mariana Resources finally respond in a positive fashion to the recent ultra oversold RSI oscillator position.

Last week ended with a rebound off the floor of a December price channel towards 1.8p.

The implied technical target over the next month is towards the December price channel top / 200 day moving average at 3.76p plus.

Rose Petroleum (ROSE)

A rising May trend channel dominates the daily chart and hints of an eventual 1-2 month target as high as 5p.

The best case scenario is that we have no end of day close back below the 50 day moving average at 2.98p ahead of a new rally.

Only back below the initial August peak of 3.5p would even begin to delay the upside scenario and is the suggested stop loss for short term traders.

Roxi Petroleum (RXP)

The best case scenario is that we have no end of day close back below the 10 day moving average at 17p ahead of a new rally through the 20p triple resistance zone.

The latest RSI rebound off a rising July trend line in the oscillator window backs the ongoing bull argument.

The target is currently seen as being the top of a June rising trend channel at 25p over the next 2-3 weeks or less.

CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR H2 2014