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:
Edge Resources (EDG)
Recent bear trap / RSI rebound from 40 could trigger a new leg higher.
Magnitude of 2014 price channel suggests 18p as a best case scenario target.
Cautious traders could wait on clearance of the 50 day moving average at 11.52p.
Rare Earth Minerals (REM)
Recent V shaped bull flag rebound off the 20 day moving average.
Above 2p resistance zone could lead as high as 3p.
Stop loss at the 10 day moving average, which is currently at 1.66p.
UK Oil & Gas (UKOG)
Extended bull from June above the former 0.93p resistance.
Rising trend channel from end of May backs stock towards 1p.
Next break of 1.2p likely triggers a 2p plus 2014 price channel target over next 1-2 months.
Mosman Oil & Gas (MSMN)
Rising May price channel combined with a 50 day moving average at 22.1p is now support.
End of week close above the 50 day moving average hints at a fresh rally.
Return to top of May range at 50p plus in focus.
Cyan (CYAN)
July golden cross buy signal plus former October resistance at 0.4p new support.
Cautious traders wait for 0.5p zone to be cleared before going long.
Top of June price channel target at 0.7p the 6-8 week target.
CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR 2H 2014