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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)
Triple bottom rebound scenario towards 60p playing out well.
Break of 50 day moving average at 69p required to oen up 90p plus range highs.
Only back below 20 day moving average at 65p delays the rebound scenario initially.
Victoria Oil & Gas (VOG)
Decent and clean progress after June break of 200 day moving average.
Still on track for implied 1.80p 2013 price channel target.
June peak at 1.4p now possible support.
Sirius Minerals (SXX)
Extended triangle breakout above 20 day moving average at 11.83p.
On track for implied 16p 2014 resistance retest.
20 day line best stop loss point currently.
Disappointing, but not deal breaking knockback from April 255p resistance line.
Key support line from May 2013 likely to be in play at 200p.
Break of 20 day moving average at 226p now required to get sustained recovery scenario back on track.
Unfilled gap to the downside after latest profit warning.
Break of Thursday resistance at 35p required to open up 45p.
Best case scenario target towards Thursday’s 45p peak. Only below 30p a concern now.
CLICK THE IMAGE BELOW TO GET ZAK’S TOP 5 CURRENCY PICKS FOR 2H 2014