Zak Mir Video Blog On Bulletin Board Heroes: Concha, Gulf Keystone, Savannah Resources

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:

Concha (CHA):

The latest recovery attempt comes after last month’s double gap down from 7.5p plus.

The shares have put in a high floor for December to date versus November, and above last month’s initial 4.2p low.

Above 4.2p could deliver a full retest of the November resistance zone above 7.5p on a 1 month time frame.

Gulf Keystone (GKP):

Gulf Keystone shares are in focus after the higher December support versus October, and a rebound off the March price channel floor.

The latest break recovery attempt could point Gulf Keystone shares back towards one month resistance / 80p plus over the next 2-4 weeks.

The stop loss on the buy argument is sustained price action back below the March line at 50p. Ideally, the former 60p autumn floor is recovery quickly this week.

Savannah Resources (SAV):

There has been a bear trap flush out below the previous 3.75p October support.

The chances now are that while there is no end of day close back below the October floor we can regard yesterday’s price action as being the start of an intermediate recovery for shares of Savannah Resources back to range highs above 6p.

A weekly close below 3.75p is the favoured stop loss point.