ShareCrazy.com

Today on ShareCrazy.com top chartist Zak Mir of Zaks-TA.com unveils three overlooked stocks.

Venture Production (VPC):

The daily chart of Venture Production is certainly one which is ready for a charting textbook in terms of the drama visible on it in the near term. The key event here was the lost of post January support at 650p today, something which opens up the possibility of a retest of the low of January down at 580p. The temptation now is to go for a bottom fish if we hit 580p again, even though the message from the dead moving average crosses this month is that the decline may not be halted at the 2008 intraday low..

Misys (MSY):

While the over riding feature of the Misys chart in recent months has been a descending November price channel with its support line running down to 130p, there was a glimmer of hope for the bulls in the way that the RSI was configured on the last three dips to the price channel floor. This bullish divergence has delivered a sharp spike to the upside, one that threatens to break the descending flow since the end of 2007. Indeed, a weekly close above the 2007 resistance line points to a possible 200 day moving average target at 207p.

New Star (NSAM):
Just as bullish divergence features highly on the daily chart of Misys, it is also key as far as the behaviour of the RSI with New Star. The divergence comes from the lower share price lows this month versus the higher RSI lows. This implies there could be a quite powerful rebound from the floor of the January descending price channel with the target being between the top of the channel at 100p and the 50 day moving average at 105p. Only below the 2008 support line at 82p upsets the bull picture.

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Zak Mir is perhaps the UK's best known chartist. If you are a serious trader you should join his website Zaks-TA.com to benefit from all his latest calls and real-time trading signals, including a new analysis of those stocks Zak thinks have been oversold in the recent downturn. For more information visit Zaks-TA.com.