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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:
Rare Earth Minerals (REM)
Rebound off former June resistance at 1.18p.
Implied partial / full retest of former July resistance towards 2p.
20 day moving average now at 1.22p makes for trailing end of day close stop loss.
AFC Energy (AFC)
Unfilled gap to the upside interrupts recent bear run.
Consolidation initially near the former June resistance at 28p.
Above latest gap floor at 23p suggests a 2014 price channel top target of 40p at best.
Leni Gas & Oil (LGO)
Consolidation within a rising June price channel above last month’s unfilled gap to the upside.
Implied support towards 3.4p to target towards 4.8p.
End of day close above the 20 day moving average at 3.78p is a suggested momentum buy trigger.
CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR 2H 2014