TIPS

Small Cap Focus
by top chartist Zak Mir of Zaks-TA.com - 14/05/08

 

Costain (COST):

The chart of Costain is not one where the bulls would have had that much joy in bottom fishing in recent months, and despite the recovery from March lows below 20p one can say that a little more work is required to make this a charting buy. The level in question is the November resistance line at 27p which if broken on a weekly close basis would open the door for a .test of at least September / October resistance up to 35p.

 

NXT (NTX):

I have grown old waiting for NXT to come up with a big contract win to end its share price woes. It looks as though salvation for the buyers has come at least temporarily after a might rebound off the floor of a descending price channel in place since the beginning of 2007. What will be interesting now is whether we can achieve a weekly close above the top of the price channel at 20p to deliver a follow on move to the last 2007 resistance zone above 30p. Only back below October’s 15p resistance zone endangers an extended recovery. .

 

 

Best Wishes,

Zak Mir

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