Zak Mir takes a charting look at S&P 500, Nasdaq 100, Brilliant Earth, Invivyd, Lightwave, Masterbeef, NWTN, Oriental Culture, Richtec, Rich Sparkle, Steakholder, VS Media, Veritone.
In today’s market wrap, I walk through the big-picture index structure for the S&P 500 and Nasdaq 100, then run through a selection of individual stock setups I’m watching right now. Below you’ll find my read on trend channels, key support and resistance levels, RSI behavior, and concrete price targets to watch over the coming weeks.
Market overview: S&P 500
The S&P is looking constructive — we’ve avoided testing the floor of the rising trend channel that’s been in place since April. Price closed at the high yesterday and the RSI is threatening to break the July resistance line up near the low-60s. A push through RSI 62 would snap the negative divergence that formed earlier.
- Immediate support: the floor of the rising channel around 6,400.
- Near-term downside to watch: a test of the 50-day moving average near 6,287 would be the “worst case” scenario at the moment.
- Near-term upside target: about 6,630 by the end of next month, provided we remain above the channel floor and RSI holds its rebound above 50.
Market overview: Nasdaq 100
Nasdaq 100 shows a similar recovery — a higher low relative to August support and price currently sitting above the 50-day line in the low 22,000s (support roughly 22–23k).
- Initial target: the top of the April rising channel around 24,300.
- Best-case target by end of next month: as high as 25,600, though we should take baby steps for now.
- RSI: just under 56 and showing a 50-plus rebound which supports the bullish case toward 24,000 fairly quickly.
Stock spotlights
Below are the individual names I covered, with the technical setups, key levels and targets I’m watching. I’ve noted invalidation/support levels where appropriate — treat those as reference points for risk management.
Brilliant Earth Group
Pattern: A V-shaped bull flag with elements of a W formation. Price has cleared the center of that W at roughly $2.36 and looks poised to move higher inside a rising channel.
- Technical highlights: yesterday’s golden cross and a recent gap-close buy signal.
- Key levels: keep above the mid-$2.30s (January resistance) to validate the setup.
- Target: up toward the $4 area by the end of next month if momentum holds.
Invivyd
Pattern: Broadening triangle. The top of the triangle points toward roughly $1.30, while the stock is currently just above $1.00.
- Key support/invalidation: stay above recent broken resistance in the upper $0.80s on an end-of-day close basis.
- Structure: there’s a double bear-trap/island reversal (gapped down twice and then gapped back up), which is bullish if the support level holds.
Lightwave Logic
Pattern: Broke the recent neckline resistance around $2.80.
- Target: the top of the rising trend channel from February — roughly $5 by the end of next month.
- Keep an eye on follow-through above the neckline to confirm the breakout.
Masterbeef Group
Setup: Bounced off the rising 50-day and 200-day moving average area — roughly $5.76 on the nose.
- Key level: ideally stays above $7 (recent Monday resistance).
- Target: the mid-channel / 50-day line region toward about $11 by the end of next month.
NWTN
This is a previously covered setup showing an unfilled gap to the upside and a bounce back above the 200-day moving average (a bullish signal).
- Confirmation: if you’re cautious, wait for an end-of-day close through the 50-day moving average ($1.49).
- Target: enough momentum here could push toward $2.30 (post‑May resistance) by the end of next month.
Oriental Culture
Setup: Bear-trap rebound from below the rising 200-day line (around $3.19).
- Near-term target: the 50-day moving average near $5.10 over the next couple of weeks.
- Risk level: stay on the right side of $3.50, which was prior resistance on the way down.
Richtec Robotics
Sector: Robotics — a hot area right now.
- Breakout: cleared the roughly $2.30 resistance and also old May resistance near $2.90.
- Target: up to about $5 by the end of next month (top of the November rising channel and initial 2025 resistance).
Rich Sparkle Holdings
Pattern: Sitting below the top of its channel formed in July.
- Key levels: above recent broken support around $44.
- Near-term target: top of the channel near $63 over the next week or so while the support remains intact.
Steakholder Foods
Pattern: Broadening triangle base that is making a move toward the top of the pattern.
- Key support: keep above recent broken resistance (Friday’s resistance was around $6.60).
- Short-term: above $6.60 look for further upside; the pattern suggests a meaningful run if the breakout holds.
VS Media
Setup: Rising trend channel with price pushing higher and a solid rebound above the 50-day line.
- Key level: recent broken resistance around $1.57 — remaining above that keeps the bullish case intact.
- Target: top of the rising channel around $2.15 by the end of next month.
Veritone
Setup: A familiar name — price has pushed through the 200-day line and is trading inside a rising trend channel.
- Immediate: 200-day clearance ($2.40 area) is a solid technical positive.
- Targets: minimum around $3.50, with upside to about $4.00 if the stock can quickly push through the $3 area.
Final thoughts
Overall, the indexes are setting up for another potential leg higher so long as the April rising trend channels hold and RSI remains supportive. On the individual names above, I’m focused on clear breakouts, respect for moving-average support, and staying above the invalidation levels I quoted. As always, manage risk — use stops or position sizing that fit your plan — and watch for follow-through at the key levels mentioned.
“”The next move here could actually be to the upside — provided we remain above the channel floor and the RSI keeps its rebound.” — Zak Mir”
More updates tomorrow — keep an eye on these setups and remember: trade what you see, not what you hope for.
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.
