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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:
Fitbug (FITB):
The latest recovery attempt comes after an extended decline from 25p plus.
The favoured scenario is a return to 15p plus while the gap at 6.19p and the 50 day moving average at 6.74p remain unbroken.
At this stage only cautious traders would wait on an end of day close back above the December gap at 10p before going long.
Frontera Resources (FRR):
December has so far delivered a bear trap rebound from below the June price channel floor at 0.6p.
The latest break recovery attempt could point Frontera shares back above the 1p zone over the next 1-2 months.
The stock could gather momentum on a sustained end of day close back above the 200 day moving average at 0.76p.
Minco (MIO):
A fresh rally looks to be on the way after a higher support zones for November and December above old October lows.
The chances now are that while there is no end of day close back below the 50 day moving average level at 1.51p we could see a partial or even full retest of the October 3.5 plus resistance.
Only cautious traders would wait on a clearance of the 200 day moving average at 1.83p, despite the latest double bear trap rebound by the shares from below the 50 day line.