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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:
May 2013 support line running at 200p.
Higher late June support above 200p provides cause for optimism.
Best case scenario target towards 50 day moving average at 298p while 200p zone holds.
Rose Petroleum (ROSE)
Likely bull flag consolidation above the 50 day moving average at 1.69p.
Ideally no return back to below 10 day moving average at 1.19p this week.
Above 20 day line at 2.55p still targets retest of initial 4p resistance zone.
UK Oil & Gas (UKOG)
Fresh consolidation and rebound with bull flag above 10 day moving average at 1.06p.
Above 10 day moving average allows for retest of recent 1.6p peak.
Only sustained price action back below 10 day line abandons best case scenario target of 2p plus over the next month.
CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR 2H 2014