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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:
UK Oil & Gas (UKOG)
Bounce off former June flag / bear trap rebound from below the 20 day moving average at 0.99p.
End of day close back above the 10 day moving average level at 1.14p is a fresh buy trigger.
Run up to retest best levels through 1.50p expected for the rest of July.
Range Resources (RRL)
Extended progress within a rising April price channel.
Initial support towards June resistance at 2p.
Still on track for further gains to 2.75p plus while above the June peak.
Victoria Oil & Gas (VOG)
Initial 1.8p target hit.
On track for implied new target through 2p over the next 1-2 months.
Consolidation possible between 1.6p – 1.8p over the next few sessions.
Quindell (QPP)
Likely to be right on the May 2013 support line at 190p currently.
Critical zone now between 190p and the 20 day moving average level at 219p.
Cautious traders would wish to see sustained 20 day moving average clearance before going long again.
Quadrise Fuels (QFI)
Extended consolidation of H2 2014 rally gives way to fresh, sharp gains.
Likely initial support towards former September 36p resistance.
Best case scenario targets towards 2013 price channel top at 65p over the next 1-2 months, with dips towards 40p regarded as buying opportunities.
CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR 2H 2014