Zak Mir takes a charting look at some of the most closely followed small caps on the London Stock Exchange. Today’s charts are FTSE 100, DAX, Dow, Bitcoin, Gold, Bezant, Cobra, Defence, EnergyPathways, Fiinu, Gaming Realms, Georgina, Kodal, Shield.
In today’s Bulletin Board Heroes update I run through the charts and the key levels I’m watching across major indices, crypto, gold and a selection of smaller-cap bulletin-board names. Below you’ll find the same no-nonsense technical read I covered on the channel, with clear targets, supports and the timeframes I’m watching over the next few weeks.
Quick market overview
Overall the tone remains mildly bullish on a number of fronts. Major indices are pushing higher inside rising channels, cryptos (especially Ethereum) are showing strong momentum, and a handful of small caps are showing clean technical breakouts. That said, there are a few ugly moves — including a painful “rug‑pull” style collapse in one name — so risk management remains essential.
Indices
FTSE 100
- Current channel area: circa 9,120.
- Near-term trigger: an end-of-day close through 9,200 would be constructive and point toward a 9,400 target over the next month (could even come sooner if a major geopolitical catalyst appears).
- Support: I want to see the 9,120 area hold. Worst-case near-term support is roughly in the high‑8,900s (50‑day moving average sits near 8,948) — we’ve not closed below that since the start of May.
- Momentum: RSI 64 — not extreme, so room to run after recent gains.
DAX
- Resistance to clear: 24,300 (a line from last month).
- If broken, upside to the top of the channel toward 25,400 (targeted by end of this month or, at latest, next month).
- Support: the 50‑day at 23,900; a deeper test would take us back to 23,000.
- RSI bounced off neutral 50 — a leading indication the 24,300 level will be challenged imminently.
Dow Jones
- Key hurdle: record high region around 45,000 — an end-of-day close above 45k would open up a move toward 47,500.
- Timing: originally pencilled in for the next month, but with repeated RSI 50 bounces the move could come in 2–4 weeks.
- Note: gapping through resistance tends to be a bullish sign in its own right.
Cryptocurrencies
Bitcoin
- Recent action: brief new high near 124,500.
- Near-term target: 132,000 is on my radar if price holds above the key 121,000 level (we’ve already closed in the 123,000 area recently).
- Critical downside: 115,000 is the mid‑July floor, coincides with the 50‑day MA and the lower channel — below that, the bullish case deteriorates.
- Simpler rule: while we’re above 120k, look for higher highs; falling back below 115k would be a warning sign.
Ethereum
- Ethereum is the star of the show right now.
- Targets hit: the market exceeded the earlier 3,560 and then 4,500 targets ahead of schedule.
- Next target: 5,600 (upper parallel of the rising channel). That was a next‑month call but could arrive sooner given current momentum.
- Key support: 4,500 (previous target) and then around 4,000 on a worst-case retest. The rally started with a clear RSI 50 rebound and continued with a bull‑flag breakout.
Commodities
Gold
- Price is steady at or near the floor of the rising trend channel from April (channel floor 3,330).
- Immediate goal: break above the old April resistance near 3,430. If that clears, I’m looking toward 3,800 roughly 6 weeks later.
- Momentum: RSI around neutral 50 and price is bouncing off the 50‑day MA (3,349) — constructive, but not yet explosive.
Selected bulletin-board and small-caps
Below I cover the small‑cap names from today’s bulletin. These are technical reads — watch your position sizing and keep an eye on news flow.
Bezant
- Shares have ricocheted nicely and are trading above a rising 50‑day — a bullish leading indicator.
- Targets: short‑term resistance line from May near 0.06; a projection from early 2023 points to 0.07 by the end of next month.
- Fundamental note: the company has proposed buying a processing plant — generally a positive sign if they’re planning to process product.
- Upside is valid while we remain above initial August resistance around 0.042.
Cobra
- Cobra has been a standout — roughly 2× year‑to‑date.
- Targets: next levels around 2.1p, then 4p by the end of this month if momentum continues.
Defence Holdings
- Strong rally in May followed by consolidation inside a rising channel.
- Channel top target: 0.55; channel floor support: 0.39. As long as we stay above 0.39, the upside remains valid.
- RSI is bouncing off neutral — watch for continuation once short‑term profit‑taking eases.
Energypathways – Rug‑pull / dramatic collapse
- This was the most painful move today — a 56% intraday decline.
- Technically worrying signs preceded it: three down days into the announcement, a bull trap through June resistance (6.25p) and a falling 200‑day line.
- Current technical state: broken uptrend from October and trading below October support (2.6p). An end‑of‑day close below that suggests a move into sub‑2pence territory before any recovery.
- Lesson: bull traps and weakening long‑term moving averages are valid warning signs — respect them.
Fiinu
- Clean breakout: the shares behaved well after the break above 8p (end of June).
- Cleared the highs of the year (14.75p) and my next target is 23p by the end of next month.
- Support: above a rising 50‑day and confirmed by recent RSI 50 rebounds — the technical picture is solid.
Gaming Realms
- Rarely on my radar, but worth watching: the stock is bouncing from the floor of a rising channel (from January).
- Targets: if we close the gap near 51p (gap‑close buy signal), the top of the channel at 63p becomes the next clear target by the end of next month.
- Upside remains valid while above the channel floor (47p).
Georgina
- Quiet couple of weeks on news, but the HAR well management plan approval mid‑month helped sentiment.
- Chart: bouncing inside a broadening triangle, with support toward 5p and a target near the 200‑day line at 7.5p by the end of next month.
- Conservative trigger: an end‑of‑day close back above neutral RSI 50 is a good early technical signal.
Kodal
- Multiple supports line up above a rising 50‑day MA — a setup I respect.
- Target: I’d like to see a move toward 0.48p by the end of next month while the stock remains above the rising 50‑day.
- Momentum: we’ve seen several RSI rebounds this month — another helpful leading indicator.
Shield Therapeutics
- Shares are inching toward the top of a rising trend channel (from early summer last year).
- Target: 6.75p by the end of this month if price stays above recent support 4.5p.
Takeaways and trading edge
- Indices: technicals are constructive across FTSE, DAX and the Dow. Look for clean closes above the key resistance levels (FTSE 9,200; DAX 24,300; Dow 45,000) to confirm next legs up.
- Cryptos: Bitcoin needs to hold 115k as core support; Ethereum is the leader and has room to 5,600 if the breakout continues.
- Gold: steady, bouncing at the 50‑day — a breakout above 3,430 would be the next confirmation for higher targets.
- Small caps: there are clear winners (Bezant, Cobra, Fiinu) and clear losers (Energypathways). Use trend structure (50‑day, RSI 50 rebounds, channel floors) to size and manage positions.
I’ll be back with another update tomorrow. If you’re trading these names, keep stops disciplined and watch the technical levels listed above — they do the talking.
Disclaimer & Declaration of Interest:
The information, investment views, and recommendations in this Zaks Traders Cafe interview are provided for general information purposes only. Nothing in this interview should be construed as a promotion or solicitation to buy or sell any financial product relating to any companies under discussion or referred to or to engage in or refrain from doing so or engage in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the commentator but no responsibility is accepted for actions based on such opinions or comments. The commentators may or may not hold investments in the companies under discussion.
