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Author Archives: Zak Mir

Rare Earth Minerals Above 0.8p Targets 200 Day Moving Average At 1.13p

REM Rare Earth Minerals PLC TA 160215   Although it is rare that anyone wins prizes from attempting to jump the gun on an extended base for a stock or market, at Rare Earth Minerals (LON:REM) it may be the case that just about enough has been done, for impatient traders to return to the fray. This is said in the wake of the weekly close for the stock towards 0.92p and the 50 day moving average, a feature which has been in place as resistance for the shares since September. Indeed it can be seen since the autumn began we have never been treated to more than one end of day close the 50 day line. Therefore the obvious trigger for buyers currently would be a two-day close above the 50 day moving average. But it should also be remembered that there are co

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Forbidden Technologies Best Case Scenario Target Back To 22p

FBT Forbidden Technologies PLC TA 160215   What can be seen on the daily chart of Forbidden Technologies (LON:FBT) currently is the way that we appear to have the beginnings of an extended recovery here in the wake of the much higher support for the shares in February above former January support at 8p, and the 20 day moving average at 8.95p. This turnaround is also backed by the way that last month delivered ultra low RSI levels below the 10/100 level which have subsequently been recovered well. Indeed, the weekly close for the oscillator was above 50, to stand at 52. The view here now is that we should start to see an acceleration to the outside, especially while there is no end of day close below the 20 day moving average/December support line.

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San Leon Energy Gap Through 50 Day Moving Average Could Lead To 2p Plus

SLE San Leon Energy PLC Technical Analysis 130215   What can be seen quite clearly on the daily chart of San Leon Energy (LON:SLE) is that over the autumn the shares tracked the downward trajectory of the Crude Oil price, mirroring it as one might expect. The pace of this bearish momentum was highlighted in November with the unfilled gap to the downside through the 1.7p zone. The highlight since this event was January’s brief bear trap rebound from below 0.8p and below the former December support. But this week sees the charting position back on the front foot in the sense that we have had a fresh rebound off a rising November RSI uptrend line accompanied by bullish divergence, as well as an unfilled gap through the 50 day moving average of 1.05p. In th

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Mariana Resources Swift 200 Day Moving Average Clearance

MARL Mariana Resources Technical Analysis 130215   What is interesting about the recent charting history at Mariana Resources (LON:MARL) is that there was the hint of recovery from most of the post summer period, but until this week it would appear that the bulls were not quite able to gain sufficient traction. In addition there was the issue of rebound attempts being sold into, the most obvious of which was September’s exhaustion gap reversal which was faded to the final 2014 intraday floor made in December. What was encouraging from that point is the way that bullish divergence was established in the RSI window via an uptrend line from that month, with bargain hunters put on alert not only by the higher support in January above 1p, but also the initial ga

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Porta Communications Multi Tested Sub 7p Support Should Offer A 10p Target

PTCM Porta Communications PLC Tehcnical Analysis 120215   What has been interesting as far as the charting position and the price action at Porta Communications PLC (LON:PTCM) is the way that there has apparently been a divergence between the fundamental picture, and the ongoing attempts at stabilisation in terms of the technicals. This battle has manifested itself on the daily chart in the form of a multi testing of the sub 7p zone since October, a process which finally may have been completed this week. This suggestion comes in the wake of the wide ranging reversal day served up during Wednesday’s session, one where the floor at 6.6p once again tested the double support points down at the 2014 low from October and November. The fact that the close

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Herencia Resources Extended Support Below 0.2p Suggests 0.4p As A Target

HER Herencia Resources PLC Technical Analysis 120215   What can still be seen on the daily chart of Herencia Resources PLC (LON:HER) is that the stock remains very much in the shadow of an as yet unfilled gap to the downside from as long ago as September. Such gaps can dominate the price action in a negative way for long after the time they occur. Nevertheless, the position here is that we have been witnessing a slow turnaround here from the worst levels below 0.20p made since December. The fact that this has been an extended basing over the past couple of months with higher lows for January and February is encouraging, especially as these support points are backed by an uptrend line in the RSI window from November. The line in question currently runs at

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Savannah Resources (SAV): Wide Price Channel Rebound Reveals 5p Plus Target

One of the more difficult yet satisfying things to do with stocks or markets of all shapes and sizes is to call time on the end of an extended decline. The problem is actually not so much spotting a rebound in the making, but whether the bounce is of a sustained variety or merely a so called dead cat bounce.   savannah resources share priceThe clue as to the possibility of a lasting recovery for Savannah  Resources currently stems not so much from the initial rebound we are seeing from below 2p this week, but the way that the trajectory to the downside has been governed by a wide descending price channel in place since May last year. The support line projection runs to the 1.8p area at the moment, while the top of the channel is still up at 5.5p plus. This differential clearly qualifies as being a “wide” channel i

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Tern (TERN): Above 6p Delivers Partial Or Even Full Retest Of 13p Highs

There have certainly been wild swings on the daily chart of Tern over the recent past. Tern Share price   What can be seen here in recent months is the overall saucer / U shape which to this date culminated in the December spike for the stock towards 14p at best. The retracement from this peak would have been the most difficult thing for fans of the company to digest, especially as the fall to a low of 3.5p in January. What is notable though, is the way that despite the January pullback which included a gap to the downside through 7p, it is still possible to capture the price action on the chart of Tern since the end of September within a rising trend channel based at just under the 50 day moving average at 5.64p. This implies that rather than being a negative event, the December / January antics were in fact an ov

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UK Oil & Gas Extended Base Breakout Targets 200 Day Moving Average

UKOG Oil and Gas Investments PLC Technical Analysis 100215   What is interesting about the UK Oil & Gas (*LON:UKOG) daily chart since the beginning of November is the way that even as long ago as that time the technicals were starting to point to the latest recovery for the shares. This is because there was bearish divergence in the wake in the RSI window after the much lower support for the stock in November versus October, following the sharp autumn declines not only for this stock but for almost all of the major plays in this sector. What was perhaps most surprisingly is the way that despite the relative stability going into the turn of the year UK Oil & Gas needed to build an extended base generally between the 0.4p and 0.5p area, a zone

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Caza Oil & Gas Broadening Triangle Formation Should Lead Back To 10p

caza Caza oil and gas plc technical analysis 100215
  Although it seems almost inevitable that after such extended losses for the stock since the beginning of the autumn, an intermediate rally was overdue, we are of course aware that for minnows such as this, happy endings are not necessarily obligatory. But at least it can be seen in the case of Caza Oil & Gas (LON:CAZA), the recent recovery from below 5p was flagged by an extended October RSI support line heading down to extreme oversold levels under 20, as well as the selling climax rebound from below the former December at 5.75p floor. The suggestion now is that one would be keen to follow the latest rebound for the shares, both back above the old December low as well as the

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