Zak Mir's AIM Stocks Charting: Blinkx (BLNX), Gulf Keystone (GKP), Sound Oil (SOU)

PUBLISHED: 23 Nov 2012 @ 02:41 | Comments (0) |

Here are the latest extracts from Zak’s new premium blog AIM Stocks Charting

It stars the likes of Petrel Resources (LSE:PET), Leni Gas And Oil (LSE:LGO) / Gulf Keystone (LSE:GKP) – day in / day out.
Blinx (LSE:BLNX): Bear Trap So Far Below Previous Resistance

So far this month we have certainly been treated to a rocky ride at Blinkx . This is said on the basis of a sharp break through the former September 67p resistance to take the stock as high as 80p, and then an equally sharp retreat back to the former September resistance area. Indeed, the current view is that we have seen a bear trap back below the old September 67p high, with the likelihood being that while there is no end of day close back below the 50 day moving average 61p this month’s 80p resistance will be tested once again. This could happen as soon as the first week of December. Overall, the longer the stock remains above 67p the more bullish we would be, regarding recent volatility as a flashing out of weak bulls before further gains towards 2012 resistance.

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Gulf Keystone (LSE:GKP): Holdng Above Initial November Resistance

It is perhaps unsurprising that after Wednesday’s sharp gains with Gulf Keystone, there has been a day of consolidation. However, it helps that the consolidation has been towards the top end of yesterday’s range, with the implication being that any end of day close back above the 50 day moving average currently at 205p could signal a fresh leg to the upside. This could possibly be as strong as the one we have already seen this week. At this stage only an end of day close back below the initial November £1.94 high would begin to suggest that yesterday’s spike was merely a flash in the pan.

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Sound Oil (LSE:SOU): Pre July Support Holds Again

The current charting setup at Sound Oil remains one of the more intriguing amongst AIM stocks. This is said on the basis of the loss of 0.95p support during July to October, and then the subsequent recovery of this level as new support. This should be a very bullish development, especially when combined with the presence of the 50 day moving average at 0.95p currently. On this basis it can be said that while there is no end of day close back below the 50 day moving average we would be looking for a minimum retest of October resistance through 1.5p over the next 2 to 4 weeks.

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