|
|
|
|
|
Three Mid-Cap Tips Today, we examine the charts of three overlooked companies. Remember, you can profit if the share prices goes down as well as if it goes up. Expro International (EXR): One of the best and worst things about the price action of Expro is what a great moving situation this is. We can see a decent example of the rollercoaster in the past few weeks with a sharp bull trap rally, retreat to former December resistance at 1,035p and then yet another rebound. The situation now is that we could be looking for a new attempt on the top of the October ascending price channel at 1,310p while there is no end of day close below the grey 20 day moving average at 1,111p on an end of day close basis.
Dana Petroleum (DNX): On the face of it we are looking at a massive double top on the daily chart of Dana, with the close of last week right on the neckline of the major reversal formation in place since October. The normal thing to happen on a weekly close below the January neckline is that we should see an acceleration to the downside equal and opposite to what was seen in August and September. Indeed, it is the last August intraday support at 903.5p which should the initial port of call for the bears after the horrific break down of Friday if we see a failure below the January intraday low of 1,091p.
Randgold Resources (RRS): Like most of its sector counterparts, miner Randgold did not have a good week last week, mirroring a meltdown in the gold price of 10%. While this may just be a shakeout for both the stock and commodity, we still have to prepare where we might intend to go long again if we have the courage. In this instance it would appear that the best zone here could be the bottom of the May ascending price channel at 2,030p. Indeed, this is the buy zone on any further weakness, and while above it the target could be as high as the initial March low of 2,411p.
*The value of investments can go down as well as up. Investing in equities can lose you part or all of your capital. Smaller company shares can be relatively illiquid and thus hard to trade. And that makes such investments more of a high risk than larger company shares. Zaks-TA.com is owned by t1ps.com Ltd which is authorised and regulated by the FSA and can be contacted at 5-11 Worship Street, London EC2A 2BH or on 020 7562 3370. 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. |
|
<