Zak Mir video blog on bulletin board heroes: Leni Gas & Oil, Octagonal, Rare Earth Minerals and San Leon Energy
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:
Leni Gas & Oil (LGO)
Upgraded technical target from 4p to 5.75p.
May rising trend channel / 10 day moving average support at 3.79p.
Best case scenario target towards 5.75p while 4p zone holds.
Likely bull flag consolidation above 50 day moving average at 0.33p is starting to deliver.
Ideally no return back to below 0.4p pre spike resistance.
Above 0.4p still targets 1p long standing technical target over a 1-2 month timeframe.
Rare Earth Minerals (REM)
Fresh consolidation and rebound within extended bull flag based towards 0.9p.
Above 0.9p allows for journey towards 1.5p long standing target.
Only sustained price action back below 0.9p upsets constructive argument.
San Leon Energy (SLE)
Yesterday’s spike well flagged by bullish falling wedge formation.
Above early June resistance at 2.7p plus suggests further upside.
Favoured destination 200 day moving average at 3.76p over the next few sessions.
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