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Asiamet Resources shares set to test five-year highs, says Zak Mir

Technical analyst Zak Mir is tipping the Asiamet Resources Limited (LON:ARS) share price to re-test the 7p zone, a level not seen since 2012 in the coming months.

“We’ve been in an uptrend since the big breakout at the beginning of the year through 3p, since when 4p has effectively become the support zone – well above the 200-day moving average at 3.55p,” explains Mir in the latest Proactive Investors Bulletin Board.

“While we hold above the 200-day line, the notional technical target over the next two to three months is as high as 7p at the top of this year’s trend channel.”

Quick facts: Asiamet Resources

Price: 2.325 GBX

Market: AIM
Market Cap: £34.28 m

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