Zak Mir's AIM Stocks Charting: Blinkx (BLNX) Triple Technical Buy Triggers

PUBLISHED: Dec 13 2012 @ 05:21 | 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): Rebound Above 200 Day Moving Average

While it may be that the bull trap retreat for Blinks shares from 80p plus put off some of its more ardent fans, it is the case that this pullback was nevertheless within a rising trend channel which still remains in place on the daily chart. In fact the floor the channel which has been in force since July has its support line running through 53p-the current level of the 200 day moving average. The big plus points this week in this respect have been the way that not only have we seen a rebound off the floor of the 2012 channel, but the 54p low on Tuesday was above the 200 day moving average and above the floor of an October gap to the upside at 53p as well.

The fact that buying came in above logical chart support suggests that the retreat from November resistance is well and truly over and at the same time we should be able to target the best levels of the year over the next few weeks particularly if the mid-November 62p low is recovered in a significant way today. On this basis one to target 80p plus again over the next 2 to 4 weeks.

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