I noted a few weeks ago that ShareProphets’ favourite technical analyst, Jordan Roy-Byre of TheDailyGold.com, has called the end of the Gold correction which started last August. It was a very rare error. Now, noting that making declarative statements does not necessarily add value for the reader, he has called the bottom for gold miners and juniors. I hope he is bang on the money this time!
The acceptable face of technical analysis, Jordan Roy-Byrne is on a roll with his gold call. In the latest video from Palisade Capital, he discusses the key technical levels, the importance of the close next Friday, Gold's performance against foreign currencies and stocks and potential upside targets in Gold, GDX, and GDXJ. Enjoy.
I was at an event yesterday and found myself repeating that well known maxim that 'half of advertising spending works...I am just not sure which half'. I was reminded of this by the numbers from advertising behemoth WPP (WPP) this morning…
So gold and gold stocks have started to rally. What next? Over to Jordan Roy Byrne for his technical analysis with the latest podcast from Palisade Capital
Hello Share Subscribers. If your company is underway in 1895, you are entitled to call it Victoria (VCP). Though perhaps the stern queen would not have approved of the firms supply of carpets to casinos.
Gold formed a bearish reversal on its weekly chart right at a confluence of strong resistance at $1220/oz.If this reversal holds, then what happens to the gold stocks which have showed increasing relative strength? All is revealed - if you believe in Technical analysis, by Jordan Roy Byrne in the latest video update from Palisade Radio
Ok it may be technical analysis and, therefore, by definition utter cobblers but for those who are interested Jordan Roy Byrne at Palisade Capital remains bullish on all things golden. Let us hope that for once TA gives us a correct signal with his medium term targets.
He may be a technical analysis freak but that does not mean he is not correct. After all this is not Zak "Judas" Mir we are talking about here. Jordan Roy Byrne argues that at the start of a bull market the miners perform way ahead of the metals and this is what we are seeing now. This has been the worst bear market in 90 years, so the following bull market should prove to be even bigger.
It is not a great day for the AIM Casino. First down PeerTV (PTV) and now Oxus Gold (OXS) has called in the administrators and Nomad SP Angel has quit. The shares have been suspended since it lost its spurious legal case in Uzbekistan and now the money has all gone.
Republished today, the 2016 Edition of Zak Mir, The 49 Golden Rules of Making Money from Technical Analysis of Shares. To get your free copy just fill in the form below..
Featuring shares in Alba Mineral Resources (ALBA), Coral Products (CRU), Finnaust Mining (FAM), Mariana Resources (MARL), Pantheon Resources (PANR) and Tek Capital (TEK) with share price targets set for all six stocks.
The daily chart of Trakm8 has been and continues to be a decent example of a trending stock which one should be able to rely on.
On the daily chart of Card Factory it can be seen how one can draw a rising trend channel from as long ago as the this time last year.
If you want me to analyse a stock for you just drop me a line at firstname.lastname@example.org - Today I look at shares in Kennedy Ventures (KENV), Sweet Group (CSG) and W Resources (WRES).
It has been quite a ride as far as the price action of Eden Research has been concerned over the past year, a point which is underlined by the way that the aftermath of the June – August double top towards 25p has been a near halving of the stock's value.
Featuring shares in AFC Energy (AFC), Altona Energy (ANR), Management Resource Solutions (MRS), Proxama (PROX) and Syqic (SYQ) setting share price targets for all five stocks.
What can be seen currently on the daily chart of Empyrean Energy is the way that we have no less than four higher support points over the past couple of months.
If you want me to analyse a stock for you just drop me a line at email@example.com - Today I look at shares in Deltex Medical (DEMG), Mysquar (MYSQ) and Totally (TLY) setting share price targets for all three stocks
The daily chart of Miton Group has been an intriguing one from a technical perspective over recent months, something which is said on the basis that it for quite some time the stock has appeared to be a decent recovery situation.
In the case of ITM Power it can be seen from the daily chart that the shares have managed to bounce back above the former 2015 intraday floor at 20.2p.
Featuring shares in Emerging Market Minerals (EMM), Fitbug (FITB), Greatland Gold (GGP), Mobile Streams (MOS), PeerTV (PTV) and Rurelec (RUR) with share price targets for all six stocks.
If you want me to analyse a stock for you just drop me a line at firstname.lastname@example.org - Today I look at shares in Ariana Resources (AAU), Devro (DVO) and Redt Energy (RED) setting share price targets for all three stocks.
The situation as far as the RTC Group daily chart is concerned is very much one that bulls will feel confident about.
In the case of MTI Wireless it can be seen that the stock has been in a rising trend channel from as long ago as June 2015.
Featuring shares in Aminex (AEX), Forbidden Technologies (FBT), Falkland Oil & Gas (FOGL), LGO Energy (LGO) and Rockhopper Exploration (RKH) with share price targets set for all five stocks.
If you want me to analyse a stock for you just drop me a line at email@example.com - Today I look at shares in Bacanora Minerals (BCN), Polo Resources (POL) and J Sainsbury (SBRY) setting share price targets for all three stocks.
Featuring shares in Afriag (AFRI), Image Scan (IGE), Kefi Minerals (KEFI), Management Resource Solutions (MRS), Physiomics (PYC) and Wishbone Gold (WSBN) with share price targets set for all six stocks.
Avesco certainly looks like a safe pair of hands on its daily chart, a point witnessed by the way it is possible to draw a wide rising trend channel in place from as long ago as August 2014. But there is more.
Formation Group has been covered here on Shareprophets as a bull situation and has so far delivered the goods on the upside.
If you want me to analyse a stock for you just drop me a line at firstname.lastname@example.org - Today I look at shares in Falkland Oil & Gas (FOGL), Laird Group (LRD) and Tungsten Corporation (TUNG) setting share price targets for all three stocks.
Zoo Digital was identified quite recently as a potential technical recovery situation, and it would appear that the stock has delivered for the bulls in a decent way, especially over the past couple of weeks.
Although it can be seen that shares of Centralnic came off the boil in the wake of their positive summer news with Alphabet and the not so inspired name change from Google, it could very well be that the period of pullback is finally over for this would be new economy winner.
Featuring shares in Beowulf Mining (BEM), Hydrodec (HYR), Ncondezi Energy (NCCL), Octagonal (OCT), Orosur Mining (OMI) and Peer TV (PTV) with share price targets set for all six stocks.
What can be seen on the daily chart of Crawshaw over the past year is that it has been dominated by the accelerating uptrend we have been treated to.
In the latest highlighting of Xaar's present technical credentials we are witnessing it in the wake of a clear bear trap rebound from below the former 427p intraday low.
Featuring shares in Aminex (AEX), Amur Minerals (AMC), Jubilee Platinum (JLP), Reneuron (RENE), SolGold (SOLG) and Xtract Resources (XTR) with share price targets set for all stocks.
The FTSE 100 opened higher this morning boosted by a strong rally on Wall Street. As I said recently, the S&P 500 is a wild index, it can rally for days or weeks to the point where investors will feel safe then it will sell off. The rally was driven by technology, energy and healthcare stocks. Better than expected manufacturing PMIs in Europe, UK and US also helped stocks rally.
In the case of Vectura Group it can be seen on its daily chart that we have a stock which appears to be in a sustained uptrend from as long ago as this time last year in terms of the strongest price action.
One of the best rules regarding not only charting / technical analysis, but also all aspects of trading and investments is to keep it simple. Unfortunately, we all have the tendency to overcomplicate our approach, as if this would somehow provide some kind of guarantee of success
The FTSE 100 closed up yesterday without any help from Wall Street as the US markets were closed for a holiday. When the S&P 500 is closed the FTSE struggles to find direction. So today the action should resume. Surprisingly the index is up after some disappointing economic news.
The FTSE made a new low yesterday, in the process Top 20 Differential dropped below -2.5%, this means there is an increased probability that the FTSE will rally in the short term. When the top 20 Differential is below -2.5% the blue chips are oversold and in this situation they will bounce back. Blue chips seldom stay too low for too long, bargain hunters will move in. But the bounce won’t last because it’s the final leg of the triangle.
The FTSE was strong yesterday, the index was boosted by mining stocks. As we know the index is influenced by the three major sectors, oil, banks and mining stocks. When one of these sectors is strong in general the FTSE is strong too. The rally in mining stocks could extend further as bargain hunters will be attracted by low valuations after the recent slide.
The index was unable to rally yesterday, despite the deep retracement. This time it was China’s stock market mini crash that sent shockwaves around the globe. I have warned many times that if the sell off in China continues, global stock markets will go down. The FTSE is ready to rally but we need to see an end to the Chinese stock market slide, at least temporarily. This would give a boost to the FTSE.
The trend appears to have turned up for the FTSE100 but the BTI (sentiment indicator) is still declining (bearish divergence). This suggest that the move up is counter trend. If the trend has turned up the BTI should rise, perhaps this indicator will turn up in the next few days.
Given an ongoing addiction to the bulletin board stocks and the penny shares area in general, it takes a lot for me to stray to more sedate situations where perhaps the trading volumes are subdued. However, Thorntons (THT) is currently in focus as it would appear that we have a big bullish daily chart.
We hear that a couple of escape capsules have already been jettisoned from the imploding Death Star (well done Glen Jones & Amy Clayton) and that more are set to be launched within days. To celebrate that we have more copies of Sith Lord Zak “Judas” Mir’s seminal work on technical analysis to hand out. It seems that the Sith Lord is still beavering away for the Evil Empire but for how long?
To celebrate the accelerating collapse of the Evil Empire – more on that shortly – we have more copies of Sith Lord Zak “Judas” Mir’s seminal work on technical analysis to hand out.
Are these folks certifiably insane or is this parody? You really just do not know these days but this post has it all: a blinding faith in Rob Terry, total lack of historic knowledge, ludicrous bid story, technical analysis, total innumeracy and the Harriet Green to be CEO story. Could this be the most brainless Bulletin Board Moron yet or is just an attempt at humour. Given how many loons here are out there I suspect the former and Jerry2Toes is the Bulletin Board Moron of the day. From the ADVFN Asylum I bring you:
Nearly two weeks ago I suggested a buying opportunity could be brewing in the gold market. I now believe we’ve reached that point. Using my preferred technical indicator, the MIDAS Method, the price of gold has breached a critical level of support. On Tuesday the price rallied strongly off this, only to retreat again. Today, the market looks like it is once more finding its footing and a rally from here could gain some serious momentum.
It is not often that one finds a new method of stock selection. I feel that I may lay claim to that distinction by drawing the world’s attention to the attractions of BAE (BA.) equity back in March and April when I combined conventional technical analysis to historical analysis, in the shape of Kremlinology. (I now rush to confess that this observation is offered in the spirit of good humour and fun, lest anyone actually supposes that I am serious.)
The fall in the GlaxoSmithKline (GSK) share price to1428p is a story in its self. Not only is it back to where it approximately was in 2013 but it now stands on what I perceive to be a three year support level. (Have a look for yourselves.) If so, will the share price hold there and is it a reason to buy the shares as cheap at 1428p on an historic dividend yield of 5.4% and on the basis that “there will always be a Glaxo”; an approach that has generally speaking been a good point to buy the shares when the news looks bleakest?
Sentiment is no longer bearish but we can't say that sentiment is bullish because the 34-day BTI is still declining. Sentiment will turn bullish when both indicators, BTI and 34-day BTI are up. Yesterday we saw some good economic numbers from China and Europe and (manufacturing PMIs), mixed numbers in the US and weak retail sales in the UK. In the US better jobless claims was offset by weaker than expected new home sales. Overall the news was positive, the S&P 500 set another record closing high. Earnings reports have been well received, they have provided the fuel to the recent rally. The question is what will happen when the earnings season draws to a close? I guess investors will turn to valuations and geopolitical risks and the stock market will decline. This could happen in early August.
It is always extremely difficult to pass comment on companies from the outside, without really knowing what has happened behind closed boardroom doors. Even so, I am as certain as I can be that my call last month, that M&G Investment Management was preparing to dump Todd Kozel from Gulf Keystone’s (GKP) board at today’s AGM, has come to pass. We’ve just heard that Mr Kozel has withdrawn his bid for re-election to Gulf’s board, but with this announcement coming immediately before the AGM, I think we can all be fairly safe in assuming it was a case of his jumping before being pushed. Even though Mr Kozel is going to remain as an officer of the company, his departure from the board is a welcome step in the right direction and I am more bullish on Gulf’s prospects as a result.
As a general follower of companies and shares – a “generalist” - I base my opinions (right or wrong) not on specialisation of interest and information, but on what is called fundamentals; those measures of value in the here and now. The future is always unknown; the here and now is not - subject to interpretation of course. When I look at Anglo American (AAL) for example I do not do so a mining sector expert, but as the generalist value hunter.
Persimmon (PSN) reported a surge in revenues boosted by rising house prices. The UK house builder sold 30 per cent more houses this year as it continues to benefit from the UK housing market recovery. With the introduction of government incentives like Help to Buy the housing market is showing no sign of losing momentum.
Last month, I gave my reasons why I thought Sainsbury’s equity was attractive at the then share price of 340p. I described the company as “impressive fundamental value in a sea of intense competition”. In essence, that was based on an estimated prospective dividend yield of 4.8%, backed by a strong balance sheet net asset value of an estimated 317p a share. The share price continued a slide down to about 326p before bouncing; last seen, Sainsbury shares were back up to 337p almost back to where we came in about a month ago.
Two profit warnings by spread betting companies last month caught my eye. First, London Capital Group (LCG) blamed poor trading activity in March as being responsible for an 11% drop in spread betting and CFD trades compared to the year prior. Next, IG Group Holdings (IGG) blamed relative weakness since mid-March’s Interim Management Statement for “generally subdued” trading. IG Group noted that “the relative weakness [was] most evident in May”. But what do these warnings say about general conditions?
I return to the subject of Imagination Technologies (IMG) pointing out that the shares broke out from their recent downtrend when they went through 225p. They stand, last seen at 233p. I last wrote them up in April when the shares were 202p, as a follow up to an appraisal I had penned last December when the share price was at 178p. The stock had been driven down by some pretty big short selling. After a 30% gain since December, what next?
Early last month, I pointed out that Rentokil Initial (RTO), the £2 billion plus market cap services support company, was not far from what looked like a potential one year trend support line. At 118p, according to my inspection of the share price chart, the share seems to have reached that support level. So will it bounce off it?
Standard Chartered (STAN) was one of the best performing financial stocks until the debt bubble burst in 2007. While the stock has recovered relatively well from the financial meltdown, it has yet to make a new high above the December 2007 high [1975p]. The stock is still in a bear market and a possible shorting opportunity could be brewing.
Gold’s sudden collapse this week is going to have caught out a lot of bulls. Unfortunately I am on the wrong side of this trade, but thanks to my MIDAS analysis last week, I escaped with a minimal loss. The latest small plunge in gold is a real confidence sapper. Just when it looked like the yellow metal was gaining some traction, the bears swung back into action and now there are questions over the durability of this year’s rally. Thankfully, though, it’s not all bad news.
After the storming response to our last giveaway of Zak Mir’s The 49 Golden Rules of Making Money Using Technical Analysis we have secured another 50 copies of Zak’s guide, worth £6.27 each, for our readers. We expect this offer to be taken up swiftly, so be quick and don’t miss out.
Profit warnings are never good for a company, but they also often cause an over-reaction and give investors a chance to buy at a bargain price. This may well prove to be the case with infrastructure services company Balfour Beatty (BBY). The company issued just such a warning a couple of weeks back and saw its share price drop from around 285p, before settling at the current level of 223p. Is now the time to swoop on this weakness?
Hello Share Fans: Is the Beta thingy important to you as a share shifter?
It’s been a few weeks since I last covered gold. There hasn’t really been much to say. The precious metal has traded in a tight $30 range, since the end of March. Such periods of inaction have been relatively rare over the last decade, but I wonder now if there are increasing signs that pressure is building for a break to the upside.
We have 25 copies left of our May giveaway of the Technical Analysis book everyone is talking about. Click the link below to take part in this exclusive offer.
Thursday will be a day of birthday celebrations for Frank Lampard and Nichole Kidman, but will Gulf Keystone shareholders be cracking open the Champagne, or hitting themselves over the head with a bottle of Babycham when the annual results are revealed?
Tethys Petroleum has been a favourite bull prospect for quite some time and not only because it reminds me of my interest in Plate Tectonics. Indeed ever since the early February gap above the 200 day moving average then around the 37p level. It is normally the case that such vertical movements through the 200 day moving average especially while it is still falling, are the forerunner of substantial upside moves.
It is not often that I chart a stock I have never heard of, but Plant Impact makes its charting debut here with the type of recovery where the term hitting the ground running seems an appropriate description.
Although it has certainly been a rocky ride both on the technical and the fundamental front, it would appear that today’s news may mark something of a watershed in terms of the recent history of the Africa focused budget carrier.
The last call on IGas Energy suggested that while above 95p, the shares should go towards the £1.60 level. As it turned out the low since that call has been 96p, which is either luck or skill depending on your perspective.
Ultrasis has been another of the many minnows on the charting In Tray, which was has been waiting since last week to make an appearance on Shareprophets. In the meantime, the stock has successfully broken above and settled above the all important 200 day moving average to cement the recent basing price action.
Although the process has not been entirely infallible, it can be said that there has been plenty of mileage the recent past in terms of looking for bullish falling wedge recovery formation on gold stocks charts.
At the start of April I was looking for Berkeley Mineral Resources to finally end its extended period of consolidation either side of the 2.5p level, a state of affairs that has existed since the start of this year. What can be said now in the wake of the latest price action is that it would appear bulls of the stock will finally have their time in the sun.
I have to admit that I am not a great reader of the financial press, but now and again something catches my eye. Today it was Tempus in The Times which was focusing on Xcite Energy and how it requires $700 million before the Bentley project turns cash positive in 2015. Clearly, if I had the cash I would be writing a cheque for those good people at Xcite immediately.
I covered Victorian Oil and Gas quite recently, on the basis that the stock appeared to be bubbling under and have the potential to build from the area under 1.5p. This still appears to be the case, but the challenge as ever is to try and get the timing correct.
It can be said that from May last year to April this year Gulfsands Petroleum was a stock that you could set your watch by. This is said on the basis that on no less than three major occasions the shares bounced off the 80p level and then delivered rebounds of between 20% and 40%. However, the loss of the 80p level to start June suggests that it a period of extended weakness is on its way-at least while there is no recovery of this level.
There would appear to be several recovery plays amongst private investors favoured small caps at the moment. One of the most popular is clearly Enegi Oil, with the added bonus at the moment being that we are still relatively close to the floor of the one-year range between 8p and 18p.
It would appear that would as far as Cupid shares are concerned, the technical argument as well as fundamental stakebuilding building news have for the time being outweighed any alleged issues will be with the companies business model. This is a great personal source of joy even though I would imagine that with a wife and four children under six years old I am unlikely to require the companies services in the near-term.
As is perhaps par for the course as far as stocks on the move are concerned like Landsdowne Oil & Gas, it tends to be the case that they move so fast, they can slip through your fingers. However, the positive fact here is that in the wake of a bear trap from below the floor of a rising 2011 price channel at 45p we would appear to have plenty of upside on tap here in term of a new rally.
It is quite a conundrum we have here at Bahamas Petroleum in the sense that on the face of it the post-March price action on the daily chart was that of a gap fill bull trap reversal through the 200 day moving average and as high as 7.5p plus. Such a negative signal is not one you would normally be thinking of bottom fishing even a couple of months later.
I think it can be said quite safely that I have had plenty of practice in terms of charting penny stocks in the recent past. Of these few are of more interest that Leni Gas & Oil given the way that we are in the aftermath of a massive spike to the upside seen over the course of the October and November.
The technical attractions of Matra Petroleum were highlighted here on ShareProphets last month at 0.9p, with the shares holding well above this level so far today. The question now is whether enough has been done here for the stock to sustain a trend reversal in the wake of the latest fundamental revelations?
Going with my theory of there being just three main types of penny stock charting formations on the bullish side, we have Sunkar Resources which is sporting the Leni Gas & Oil (LGO) type of configuration. Indeed, if anything the set up here of a rising trend channel / bull flag above the rising 200 day moving average seems more positive than the daily chart of the company it is said to be a copy of.
This is the point that I have to promise I was going to look at Zoltav Resources earlier this morning, well before the stock was up such the massive amount we have seen so far. However, there is value to add here over and above stating that the stock could go up further, in terms of the chart configuration and likely support / resistance levels and near term target.
Goldstone Resources is another stock flagged to me by a Twitter follower, someone who I am already starting to respect in terms of his judgement regarding small cap recovery situations.
I can already say that as far as spotting rallies / recoveries in the minnows, there are actually only three main charting configurations to watch out for. The one currently at AFC Energy is actually of the Leyshon (LRL) / Petrel (PET), Leni Gas (LGO). You won’t see this kind of analysis anywhere else!
The fact that and extremely negative looking April reversal set up on the daily chart of Iofina only proved to be a dip to buy into, still backs the buy argument at the iodine explorer. It also suggests that the resolution of any consolidation in recent weeks is likely to be a very constructive one.
I wrote about Coms a month ago as a potential mid-move consolidation breakout candidate, and while the consolidation has gone on rather longer than expected, it would appear that we are now finally close to the break to the upside which could lead the stock to its implied 5p target.
As yet another reminder that technical analysts are not always momentum followers we have the present situation at Immupharma. What can be seen here is that since July last year there has been a descending price channel which has effectively halved the share price from the October peak above 70p. However, we do have near-term positive charting triggers.
Once again with a minnow stock we are looking to see when the second leg of a near vertical spike some months ago will resume. In the case of Scancell it would appear that such a move is imminent given that there have already been more than eight months of consolidation of a move from under 10p to over 60p in the June to October 2012 period.
Alexander Mining is another stock where I was actually tipped off myself regarding the merits of the shares via a private, and this was earlier last week when there has not yet broken back above former 2.77p late 2012 support!
I have been meaning to write up CIC Capital for some days now, but the stock always missed the cut. However, in the interim the shares have shot up vertically and question most traders will be asking is whether in the near-term there is more to come? The answer would appear to be in the affirmative.
Perhaps more than anything else what gives charting a bad reputation is when what appears to be the perfect formation/pattern then goes and gives traders a slap in the face.
There are some recovery situations where a great deal of head scratching and soul-searching is required to finally plucked up the courage and press the buy button. However, it would appear that after an exceedingly long wait Cadogan Petroleum as returned as a likely share price revival contender, and done so in style.
A great album by the Sex Pistols, one of the greatest albums ever, and although Johnny Rotten did not know it of the time, the perfect retort to the latest article on Cupid by Tom Winnifrith.
Perhaps the saddest back about UK pharmaceutical companies is the way that while we all hope they will blossom into the next Glaxo or the next Astra, too many of the minnows have fallen by the wayside.
While picking stocks that are creating a buzz on the bulletin boards is always a fascinating pursuit, as most of us are aware, it is not necessarily a path to riches. Indeed, there is a risk that the buzz is just as likely to be flagging a sharp break on the downside, as it is to the immediate prospect of a mega rally.
I have to confess that one of my best calls of the year-to-date in Noricum Gold was not actually a situation that I found myself on a charting basis but actually flagged to me on a fundamental basis from the newsflow when the shares were below 0.5p.
Shock, horror we have a down day for IGas Energy shares. The question now is whether after all the media hype, which has been almost universally favourable, the shale Gold Rush play can live up to expectations? From a technical perspective it would appear that it can, after an appropriate period of cooling off and consolidation.
Given the nature of the beast, the beast referring to resources stocks in general, it usually seems to be wise to adopt a mixture of momentum trading-following moves to the upside, as well as trying out the odd toe in the water bargain-hunting opportunity. This latter is what we appear to have at Empyrean Energy.
The recent rebound in Gulf Keystone shares means that they are fast approaching not only the level of the broken two-year uptrend line at £1.70, but also what can be described as the coastal level, the £1.67 zone where CEO Todd Kozel transferred 10 million ordinary shares to a third party.
On the face of it the latest gap higher for shares of Conroy Gold is merely another flash in the pan rebound amidst the ongoing decline from the beginning of 2011. However, since the autumn we have at least four powerful buy triggers which suggest that a lasting turnaround may be upon us.
On May 23rd Nighthawk Energy shares were trading at 4.89p and having gapped up through their 200 day moving average were given a 7p target. A couple of weeks on and we have a fresh gap and a new upside target of as high as 9p.
When it was suggested that SolGold could double from 4.2p on May 20th by the end of June, there was an outside hope that this could be achieved by the end of May. But of course, it always pays to be conservative in the big, bad, world of mining stocks…
On April 23 Frontera Resources were called two double on a three month view here on ShareProphets - they were then standing at 0.92p.
Even if I live to be 99 I may still be asking why there was a need to question ask the question “Range Resources: A Buy Under 3p?”
It would appear that the name of the game as far as speculating successfully in the small/minnow area is to be able to time correctly when a company such as Magnolia Petroleum will deliver the second leg of a recent spike in the share price.
Bull and bear traps are very often the bread-and-butter of charting techniques, especially given the way that most traders when wrong footed will not then reverse the position and benefit from price action they may have lost money on.
The 200 day moving average is traditionally the benchmark as far as determining the trend for stock or market. Therefore as far as Extract Energy is concerned at the moment, its first break of the 200 day line 2 years has to be regarded as a significant technical watershed.
One of the more difficult challenges as far as stocks or markets are concerned is to call time on an extended bear run. In the case of ECR Minerals it can be seen that there has been an extended drift since the through last summer's double top through the 0.8p level.
As can be seen from the daily chart of Forbidden Technologies, the shares had their time in the limelight going into the start of 2012. Those lucky enough to be on board an unfilled gap to the upside from the 20p's were treated to a Happy New Year at a peak for the shares towards 50p.
I found the comment by Tom Winnifrith in his Video Postcard that technical analysts tend to make calls on the basis of momentum - long at the top / short at the bottom somewhat erroneous.
The current technical set up at Herencia Resources leaves me almost lost for words. This not only due to my parents having burned the equivalent of £150,000 on a Harrow School “education” to leave me with limited grammar skills and strange accent, but also because there are so many plus points on the daily chart.
It has been the case that that Roxi Petroleum has been on my technical radar for quite some time, over and above the attention derived from the fundamental updates.
Without wishing to deliver the kiss of death to Gold and Gold stocks, it does appear that currently after nearly two-year is in the doghouse, it may be safe to come out of the cold if you are a fan of this particular asset class.
In terms of what can be seen on the daily chart of Altona Energy at the moment it can be said that we have a classic mix of positive reversal signals that should be more than enough to turn the stock around in a significant way after an extended bear run.
For the past couple of days I have been sitting back contentedly watching the share price of Sound Oil start to bubble up, happy in the knowledge that its charting praises had been sung here on ShareProphets already, and ready to take a bow over the next week as the stock soared. Unfortunately, this will be the first technical analysis of this much followed E&P minnow.
As most of us are probably aware, apart from holidaying in Ibiza, there are few things more exciting in life than the world of international mobile solutions, the sphere in which Globo occupies. Last month the software as a service provider reported that annual revenues were up over a quarter on sales of its smart phone technology. But the real interest at the moment may come from the latest price action where it would appear that a break out is imminent.
On the face of it we can say that the loss of the initial 3p support level of 2013 for Range Resources in the second half of May suggests that not only is a new bear phase about to begin for this highly followed stock, but that the target is now as low as 2p. But is this too negative view on a company where most traders are long and still expecting great things?
Shares in Idox plc (IDOX), an AIM-listed supplier of software and services to the UK public sector and global engineering information markets, presently trade more than 18% lower today, at a current 37.5p, as the company has reported a “disappointing” first half year (to 30th April) performance “impacted by delays in new Engineering Information Management licence sales in particular”.
So far in May we have been treated to a bear trap rebound from below 90p following a brief break of the 2012 triangle formation. The question now is whether excite energy shares are finally ready take off after the recent well-received $15 million deal?
Having managed to get knocked back from Oxford (twice), Cambridge and Harvard Universities at the interview stage, I would be the first to admit that on occasion I may not be as fast off the mark as others. Nevertheless, albeit in tortoise like fashion, the main uptrend line for Quindell Portfolio chart has been identified today.
Perhaps quite understandably there is very often a delay between the appearance of a stock on the bulletin boards/the most followed, and the share price action moving in a positive direction.
Describing yourself as the world's best anything can very often the kiss of death in terms of reputation, if nothing else It would appear that for HSBC, the world's local bank, a series of scandals and mishaps, have ended up in fines and red faces which continue to bite the banking group in the posterior, both fundamentally and otherwise.
Leyshon Resources has been tipped on a technical basis here on ShareProphets a couple of times already, with the implied target being as high as 22p. This may still appear to be a long way away at the moment even after today’s rise, but the shares have done nothing over the past few weeks which would suggest that substantial upside will not be seen in the near future.
One of the factors that contributed to the great British banking collapse of 2007-8 was lax regulation, something which is perfectly understandable if as a regulator you are dealing with your future employer.
Although I am no Red Adair when it comes to the world of oil & gas exploration, I did attempt to engage in conversation regarding this particular field with an amiable representative of Nostra Oil & Gas at the UK Investor Show last month.
There was a time not so long ago when any company with the word China on its notepaper was seemingly guaranteed stock market share price success.
The end of last week saw Innovation Group as something of a surprise winner in terms of stocks heavily traded among the small caps.
I wrote about Beowulf mining in my first book 101 Charts For Trading success, as an example of the pleasures and pitfalls of what you can achieve in the small caps area. Nearly 2 years on and Beowulf Mining shares is only a fraction of what it was at its peak. Indeed, we have suffered the equivalent of a Dotcom Bubble bursting in mining stocks.
As you might imagine over recent weeks have become quite a keen follower of the news wires in terms of the latest developments at Gulf Keystone. I also keep an eye on what the latest targets are for the oil and gas explorer. It would appear that we are looking at anywhere between £10 and 10p as far as the forecast price targets for this much followed / sacred cow of a company.
Clearly, it does not require too much imagination to work out that after finding support at 12p or just below over the past couple of years, shares of Parkmead may finally go up and stay up. But the problem is trying to work out what will be different this time in terms of the stock being able to find lasting support at the bottom of the range on this occasion versus the other eleven?
Ithaca Energy shares would appear to serve as a reminder that as far as many small caps, and other companies that are relatively illiquid, you really need to step back from the near-term noise on the daily chart and look at the bigger picture. Only then do you really give yourself a chance of making a call worth trading on for the long haul.
For some weeks I was rather put off from looking at the charting picture of Afferro Mining on the basis that it was likely to be a M&A situation where the fundamentals could overtake the technicals at any point.
Stakebuilding has caused Zincox to rebound sharply in recent days, although the sharpest price action has come in today with an unfilled gap to the upside. The question at this point is whether the rebound is sustainable and if so, how much upside may be left?
As you might expect from a stock like Avingtrans, which has already made substantial gains in recent months, the daily chart is full of positive points to back the bull argument, and make it appear that any idea profit-taking this stage would be premature.
Yesterday two of the top three risers in the whole London market were wedge breakout formations – Leeds Resources (LDP) and Noricum Gold (NMG), situations that I have flagged in the past week.
Optimal Payments was one of the AIM stars of the H2 2012 period, with the added bonus that the price action was generally “straightforward” to predict all the way up from below 50p to nearly 200p.
While it may be easy to get caught up in the “euphoria” of a big up day for private investor favourite Nighthawk Energy, the real plus point here is the constructive profile of the daily chart here over recent months.
While the spikey nature of the price action at Beacon Hill Resources over the past year as a whole would suggest that this is not a stock to be traded by widow or orphans, what can be said at this point is that in the post-March period there has been some positive consolidation above the 3p level.
Given the way that there has been a couple of false breaks to the upside in the recent past at Chariot Oil & Gas, the first in January and the second last month it may appear to be wise to hold back on calling the stock a lasting recovery play.
Ever since the Autonomy link scare buy opportunity for Blinkx in the autumn, it would appear that everyone and their mother has been backing this stock as one of the best AIM stock buys around, both on a fundamental and a technical basis.
While one of the most difficult things to do as far as any stock or market is concerned is to pinpoint the exact timing of a resumption of a powerful move to the upside, one of the best ways is to select as many plus points as possible-with three of more technical ticks normally meaning that a fresh rally is just around the corner.
It may certainly be the case that shareholders of Leed Resources will have been wondering for quite some time when their day in the sun may return, at least in terms of the price action. On this note it can be said that while we may not be looking at the beginning of the end of the wait, it could very well be the end of the beginning - to maul Churchill's words.
It may be to some harsh observers that Bloomsbury Publishing was effectively a one trick pony given the Harry Potter phenomenon. But it would appear that e-books have enabled the group to cast a new spell over its fortunes and share price.
This week near 100% share price rise for Vatukoula Gold Mines was flagged not once but twice over the past month on a technical basis on ShareProphets.
Despite losing the highly lucrative Mir family contract over a year ago it would appear that Telecom Plus, the company and its shares, have been able to go from strength to strength.
While it may be tempting to go with the downside for the shares of Bwin.party Digital Entertainment, what can be seen from the daily chart of the gaming group over the bulk of the past year is the way that there was a major base put, especially over the autumn and winter period.
The start of May delivered a very threatening appearance to the chart of Xxcite Energy, the stock which ironically is one of my favourite oil plays.
Today’s near 100% share price rise for Vatukoula Gold Mines was flagged not once but twice over the past month on a technical basis on ShareProphets. But the question is whether there is more to come?
I have been asked to give a technical view on LSL Property Services which has been tipped by Alpesh Patel. The fact he is richer, cleverer, better looking, has more friends and more hair than me, will not sway my analysis of the stock.
They can be few disagree that Playtech has been one of the stock market heroes of 2013 to date, even though this has been a rather crowded category given the extreme bullishness in almost all sectors of the market apart from the dreaded miners.
Although the impression may be given that on ShareProphets there is a certain lust for calling stocks to the downside, the situation at Bellzone Mining not only how false this impression is, but actually an innate bias to bullishness, which is appropriate against a backdrop of the stock market’s return towards its all-time highs.
On the face of it may appear that is a little late to get on the back of Solgold. This is especially the case given the way that the original buy signal here was on a break of the initial April 1 .5p resistance zone at the middle of last week.
There is currently an interesting contrast between the fundamentals at mobile satellite communications services provider Inmarsat (ISAT) and the technical analysis.