Zak Mir's AIM Stocks Charting: Borders & Southern (LSE: BOR) Gap Fill Buy Signal

PUBLISHED: 20 Dec 2012 @ 10:56 | 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) and most recently highlighting quadruple support for Gulfsands Petroleum (LSE:GPX) under 80p.

Borders & Southern Petroleum (BOR): Bear Trap Rebound

While it is true to say that the AIM stocks area can be one of the most volatile difficult to negotiate for traders on any timeframe, this state of affairs underlines the way that your strategy has to be as robust as possible. This means relying upon key bankable high percentage technical triggers where the stop losses are clearly defined and targets are achievable without the whole world having to tip in favour /miracles occurring.

In the case of Borders and Southern it can be seen on the daily chart that there has been an extended basing process in place since July, where one could have gone long and suffered a rather rocky ride in the months since then. However, this week’s two day close back above the top of a November gap to the downside just under 19p suggests that we have a strong buy signal as the shares are filling an exhaustion gap. The implication now is that while there is no end of day close back below the floor of the gap at 16p, we should be looking for at least return to the former October November resistance at 25p plus. The timeframe is a next 3 to 4 weeks.

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