Small Caps Request Show: ANGS, BZT, ECHO, EVRH & MRS

We highlight Angus Energy (ANGS), Bezant Resources (BZT), Echo Energy (ECHO), EVR Holdings (EVRH), Management Resource Solutions (MRS) today.

It has to be admitted that despite being fully informed of the potential of Angus Energy even before the IPO in terms of the fundamental proposition, the recent rally was something which I rather missed. However, it is of course never too late to get on board a decent stock, with the issue now being where and when the shares may turn back up again and resume the early summer spike? The favoured scenario at this point would be we see probes for support towards last month’s 24p intraday floor. At least while there is no end of day close back below this number the upside is seen as being the top of a rising trend channel from November last year at 36p – over the next 1-2 months. Otherwise wait for a break of the 10 day moving average at 28p as a momentum buy trigger.

Angus Energy Daily Chart

Bezant Resources (BZT):
I see that people are currently quite keen on the prospects for Bezant Resources as far as the upside scenario is concerned. The obvious technical target here from the daily chart would be we see a retest of the main autumn resistance for the shares through 2p over the next 1-2 months. The technical trigger for this would of course be a break of the 200 day moving average at 1.56p over the next week or so. However, the technical position here may actually be a little better than the conventional thinking would currently figure. This is said on the basis that the shares are trading within a broadening triangle which has its resistance line projection as high as 3p. While this may sound ambitious, the 3p zone is only where the stock was this time last year.

Bezant Resources Daily Chart

Echo Energy (ECHO):
Echo Energy shares rather came off the boil after the May peak, but it would appear that as things stand we are looking at consolidation rather than a topping out process. The line in the sand is from the beginning of March, with what looks to be solid support at 10.25p. At least while there is no end of week close back below this 5 months line we should see a fresh leg to the upside. The trigger for this would be an end of day close back above a May resistance line / 10 day moving average at 14.5p. A break break here over the next couple of weeks would open up the prospect of a retest of the 25p plus peaks over the following 1-2 months.

Echo Energy Daily Chart

EVR Holdings (EVRH):
It is perhaps ironic that although EVR Holdings was one of my stocks of the year for 2017, I have not been as enthusiastic on the company as some of the private investor Twitterati. Nevertheless, the shares have yet another shot at greatness. This is because there has been a gap higher through the 10 day moving average at 6.36p. But it will be the 50 day and 200 day moving averages at 7.66p which are the big barrier to break. A weekly close above the two key moving averages would then open up the stock for a fresh journey to the main 10p – 13p resistance zone. However at this stage it would be premature to call the stock any higher – despite all the hype.

EVR Holdings Daily Chart

Management Resource Solutions (MRS):
Although shares of Management Resource Solutions are on the back foot today, the exhaustion gap reversal from June, the break of the 50 day moving average last week, and the way it is possible to draw a rising trend channel from May gives the bulls a decent chance of a good result. This is especially the case while the stock holds above the price channel floor at 3.8p. While this is the case one would be looking to a best case scenario technical target at 8p at the trend channel resistance line. Only cautious traders would wait on a clearance of the initial August peak at 4.69p as a momentum trigger before pressing the buy button.

Management Resource Solutions Daily Chart
 
Zak Mir is Co Founder Wallstreetwires.com, technical analyst, author, broadcaster and financial markets commentator.

Original Link: wallstreetwires.com/small-caps-request-show

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