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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:
Gulf Keystone (GKP)
Recent multiple bounces off sub 80p zone support post April.
Latest March RSI support line rebound towards 30 level triggered sharp share price bounce.
Best case scenario target towards April resistance and 110p over the next few sessions.
Consolidation above 0.19p initial bull flag – this level needs to come in as new support.
Ideally no return back to 0.16p – 0.19p broken bull flag trading range.
Above 0.16p still targets top of October rising trend channel at 0.35p over next 1-2 months.
UK Oil & Gas (UKOG)
Fresh consolidation above mid-June bull flag at 0.94p and 10 day moving average at 1p.
Above 10 day moving average at allows for partial/full retest of recent 1.6p resistance.
Only sustained price action back below the 10 day line is now considered outright bearish.
CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR 2H 2014