CLICK THE IMAGE BELOW TO WATCH 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:
Revised price channel based at 0.16p after yesterday’s bull flag break out.
Support expected to come in no lower than initial June 0.19p resistance.
Top of October price channel target as high as 0.35p on a 4-6 week timeframe.
Rose Petroleum (ROSE)
Initial rebound last week off 50 day moving average at 1.54p.
Some risk of another false dawn here / sub 2p retest until end of day close above the 10 day moving average at 2.21p.
Only well below 50 day moving average suggests there will not be a partial or even full July / August retest of 4p June spike.
UK Oil & Gas (UKOG)
Sharp bull flag break through initial June 0.94p peak.
Above initial June resistance suggests top of 2013 broadening triangle at 1.5p plus.
Ideally, dips towards former 2014 resistance from January at 1.12p can be regarded as buy opportunities.
CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR 2H 2014