Zak Mir Video Blog On Bulletin Board Heroes: Hurricane Energy, Leni Gas & Oil, UK Oil & Gas and Rare Earth Minerals

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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:

Hurricane Energy (HUR)

The bearish daily candle to start this week underlines the importance of the 40p zone being held.

The overall trajectory of Hurricane Energy shares is that of progress within a rising trend channel from April.

Cautious traders would wait on an end of day close back above the 50 day moving average at 42p before taking the plunge on the upside to target the 2014 price channel top at 60p.

Leni Gas & Oil (LGO)

A bull flag formation is sitting above the 50 day moving average at 3.62p  and above former August resistance.

Above the floor of a rising June price channel at 3.8p suggests as high as 5.8p at the price channel top over the next 1-2 months.

Only sustained price action back below the 50 day moving average is currently regarded as bearish.

UK Oil & Gas (UKOG)

The shares have made sharp progress after exiting the recent 1p – 1.30p zone consolidation which has been in place since the end of June after that month’s spike through 1.5p.

Above the initial September 1.34p resistance targets as high as the top of a rising June price channel at 2.4p on a 4-6 week timeframe for UK Oil & Gas.

Only an end of day close back below the June price channel floor cancels the prospect of a rally to 2p plus at the three month resistance line projection.

Rare Earth Minerals (REM)

Shares of Rare Earth Minerals have been within a triangle consolidation pattern since July.

The best case scenario is that we have no end of day close back below the triangle floor at 1.37p and that while this is the case a push to the 2014 resistance zone of 2p plus over the next 4-6 weeks.

Cautious traders would wait on end of day close above the 50 day moving average at 1.59p as a momentum trigger.

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