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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:
Motive Television (MTV)
Encouraging bear trap rebound from below former May support at 0.015p.
Weekly close back within a May 2013 rising trend channel.
Likely resumption of recent 0.015p to 0.030p range.
May 2013 support line zone from 170p plus.
Disappointing consolidation under the 10 day moving average at 205p.
Overall, the shares appear to be defying extreme negative forces for now.
GCM Resources (GCM)
Final bear trap rebound from the 50 day moving average at 19p after a June bull flag buy signal.
Above upper 20ps hints at best case scenario target of 50p.
Dips towards 30p regarded as a buy opportunity, risk to 25p at worst.
Mosman Oil & Gas (MSMN)
Massive end of week key reversal to the downside.
50 day moving average at 19p expected to arrest current pullback at worst.
Dips towards 50 day moving average regarded as buy opportunity, otherwise wait on an end of day close back above 20 day moving average at 30p as momentum buy trigger.
CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR 2H 2014