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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:
Premier African Minerals (PREM)
The shares have delivered a positive consolidation / extended bull flag at the floor of a rising trend channel from early 2013.
While there is no end of day close back below the 2013 support line a retest of the 2013 price channel top looks to be on the cards over the next 1-2 months at 2.5p plus.
Only cautious traders would wait on a clearance of recent 1.5p plus resistance before taking the plunge on the upside.
Roxi Petroleum (RXP)
The shares have delivered on previous ambitious technical targets at 20p and 25p respectively.
The implied technical target as soon as the end of October is now as high as a July price channel top of 30p.
Any weakness towards the 50 day line at 16p is currently regarded as a buying opportunity with the stop loss an end of day close back below this feature.
Sula Iron & Gold (SULA)
The shares have consolidated towards the floor of a rising December price channel at 2.65p in a positive fashion.
The best way forward now is to look to buy on any weakness towards the 2013 uptrend line, in the wake of the 200 day moving average now at 2.86p being recovered.
The upside for Sula Iron & Gold is seen as being towards the December resistance line at 4.75p over the next 1-2 months.
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