HOME > Latest > Zak Mir Video Blog On Bulletin Board Heroes: Fitbug, Roxi Petroleum, Savannah Resources and UK Oil & Gas

Zak Mir Video Blog On Bulletin Board Heroes: Fitbug, Roxi Petroleum, Savannah Resources and UK Oil & Gas

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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 (FTB)

The shares have delivered a near “parabolic” rise after an unfilled gap to the upside through former 8p November resistance.

While there is no end of day close back below the former 2010 12.5p intraday high the upside argument remains very much in place.

Cautious traders would wait on a return to the former 2012 high before going long again given how overbought the shares are currently.

Roxi Petroleum (RXP)

After an extended consolidation above the 200 day moving average – now at 9.58p – with a rising trend channel from July it would appear that new support towards 12p is secure.

The latest price action could be bought into for a return to the 20p plus zone /2014 resistance.

Only cautious traders would wait on a clearance of the 50 day moving average at 15p before taking the plunge on the long side.

Savannah Resources (SAV)

A higher November low above the 50 day moving average at 5.10p backs the idea of at least an intermediate rebound for Savannah Resources.

The best way forward now is probably to look to buy into any weakness towards the 50 day moving average / bull flag floor.

Only cautious traders would wait on a clearance of the April 6.35p resistance line as a momentum buy signal before going long.

UK Oil & Gas (UKOG)

We have a possible selling climax towards sub 0.4p November and former May 2014 support.

While below the 10 day moving average now at 0.48p there is still a risk of a retest of the worst levels.

The favoured scenario despite the risks is for an end of day close above the 10 day moving average at 0.48p to end UK Oil & Gas’s recent bear run.

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