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:
Evocutis (EVO)
Evocutis shares are understandably overbought after an ultra sharp spike, with the RSI at 90 plus.
The expectation is for a dip to buy into towards the mid 0.3ps with the bull argument intact while the 200 day moving average at 0.26p is held.
A top of January price channel target as high as 1.2p is the 2-3 month is possible.
Lansdowne Oil & Gas (LOGP)
Shares of Lansdowne Oil & Gas finally deliver a sharp move to the upside after an extended base in August towards the 20 day moving average at 11.29p.
The floor of a rising trend channel from February towards 11p remains key in terms of the recovery argument.
At this stage only back below the 20 day line delays the prospect of a return towards the May resistance / 200 day moving average at 19p over the next 2-4 weeks.
UK Oil & Gas (UKOG)
Surprisingly consistent performance by the stock within a rising June price channel based at the 50 day moving average at 1.09p.
The best case scenario is that we have no end of day close back below the 50 day line ahead of a push to the implied 2p target over the next 1-2 months.
Only cautious traders would wait on a break of 1.3p plus as momentum buy trigger.
Xcite Energy (XEL)
Persistent basing towards the 60p level since the end of March.
The best case scenario is that we have no end of day close back below 60p ahead of a move towards the 200 day moving average at 81p over the next 2-4 weeks.
The price action is well backed by an extended March uptrend line in the RSI window towards 50.
CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR H2 2014