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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:
Extended saucer shape reversal pattern.
Implied journey back to fill 2012 gap top at 14.5.
Former May resistance at 7.8p favoured stop loss.
Roxi Petroleum (RXP)
Vertical ascent after break of 6.5p January resistance this month.
Previous target through 13p achieved.
Best case target now up to 2011 resistance line at 18p.
Polo Resources (POL)
Bull flag rebound above 50 day moving average now at 11.87p.
Implied support from extended RSI support line from May.
Top of October broadening triangle target as high as 18p.
Quadrise Fuels (QFI)
Consolidation within rising October price channel floor at 35p.
Break of 10 day moving average at 39p should open new leg to the upside.
2013 resistance line target at 60p over next 1-2 months while 35p is held.
CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR 2H 2014