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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:
Xcite Energy (XEL)
Extended consolidation with two higher lows above 60p.
Latest breakout above 20 day moving average at 64p could trigger a fresh rally.
Only sustained price action back below the 20 day line delays the upside scenario and a 90p plus best case scenario target over the next 1-2 months.
Stellar Resources (STG)
Sharp pullback from the July 1.10p plus peak.
Target for a top of 2013 price channel destination at 1.4p remains.
Only back below the 50 day moving average at 0.69p delays the upside scenario.
Rose Petroleum (ROSE)
Fresh bull flag within a rising May price channel backed by the April RSI support line.
Latest price action shows support at the 10 day moving average.
Target now as high as 6p on a 1-2 month view while 2 month uptrend line is held at 2.9p.
CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR 2H 2014