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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:
Kea Petroleum (KEA)
Bull flag consolidation either side of 200 day moving average at 1.87p.
Latest breakout suggests 2014 price channel back towards the 4.5p zone.
Only sustained price action back below 200 day line delays upside scenario.
Range Resources (RRL)
Widening of April trend channel towards 1.8p floor.
Target for a top of channel meeting of 2.75p resistance line.
Only back below 50 day moving average at 1.56p outright bearish.
Stratex International (STI)
Vertical move to the upside after extended base from May.
Possible bull flag consolidation either side of 200 day moving average at 3.74p.
Cautious traders wait for a break of bull flag top at 4p.
Chariot Oil & Gas (CHAR)
Shares back to main 15p zone support.
Risk of a new leg to the downside on sustained 15p break.
Oversold RSI provides bulls with best hope currently.
CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR 2H 2014