Zak Mir Video Blog On Bulletin Board Heroes: LGO Energy, Touchstone Gold, Ultrasis

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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:

LGO Energy (LGO):

The latest recovery attempt comes after a bear trap rebound from below the 200 day moving average at 3.04p and well above the June unfilled gap to the upside.

The favoured scenario is a return to the 5p plus October resistance zone over the next 4-6  weeks.

At this stage only back below the 3p zone is seen as being outright bearish.

Touchstone Gold (TGL):

Following the lower November bear trap support rebound from below 0.40p versus October, we have a recovery set up with a base at the floor of a rising October price channel level with the 20 day moving average at 0.43p.

The latest break recovery attempt could point Touchstone Gold shares back towards the 0.70p zone over the next 1-2 months.

The stop loss on the buy argument is sustained price action back below 0.4p, although weakness below the 20 day line is not now expected.

Ultrasis (ULT):

A fresh rally looks to be on the way after a December bear trap exhaustion gap reversal from below former October support.

The chances now are that while there is no end of day close back below the 50 day moving average level at 0.14p we could see a partial or even full retest of the October gap floor at 0.4p over the next 4-6 weeks.

The RSI rebound off the neutral 50 level gives added momentum to the possible turnaround here.