SGW has been oversold and looks to be heading upwards. If todays action is followed, it could see $6.00 again soon.
If buying slows, it could test $5.40 again.
News Corporation (NCP)
NCP looks as though it can bounce if it stays above $12.50. If it falls below $12.50, it could retest the $12.30 level, as per last Monday.
Powerlan (PWR)
PWR moved strongly above 21 cents on Monday. It did the same last Thursday morning. There appears to be some resistence at 22.5 cents and support at 21 cents. A sustained break above 22.5 cents is a strong buy signal. Keep a close eye on the MACD, as another fall to 21 cents could also provide another buying opportunity.
Giants Reef Mining (GTM)
GTM is a hard call at this time. I posted last week that it could go to 3.3 cents or lower if it breaks that support. Since that time, volume has been extraordinarily low, hence making it difficult to make a strong call.
I will wait till volume picks up.
Oxiana Resources (OXR)
OXR showed overbought yesturday and subsequently feel back to 28 cents today.
Volume has not been great, however the MACD broke away a little today into negative territory. OXR could be heading back (briefly) to 27 cents, which would provide a good buying opportunity. This has happened twice in April, and has been followed by strong rebounds to 29.5 cents.
If however OXR falls below 27 cents, it could retest 25.5 cents and 24 cent resistance levels.
MXL Limited (MXE)
Well - haven't I had fun with MXE! (sarcasm) I should have sold yesterday with the rest of them. Someone indicated it could go back to 10 cents. It could. The bottom is probably around 10 - 10.5 cents, but could be 9.6 cents.
Once it has bottomed, I expect it to again bounce quickly, as I predicted two weeks back.
