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, Catenai, Critical Metals, Defence, Galantas, Hemogenyx, IMC, Mast, Metals One, RC Fomax, Surface Transforms, Vault Ventures, and World Chess.
In this weekend’s Bulletin Board Heroes, I review the charts I’m watching across indices, cryptocurrencies, gold, and a selection of smaller-cap bulletin-board stocks. Below, I summarise the technical picture, key support and resistance levels, RSI readings, and the short-term targets I’m watching into the rest of September and into next month.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Major indices
FTSE 100
The Footsie ended the week quietly but remains on the right side of the rising trend channel. Key levels:
- Right side of the channel: 9200 (we want end-of-day closes above this).
- Channel floor since June: 9140.
- Upside target (top of the channel): as high as 9450 by the end of next month.
- RSI: comfortably above neutral at 55 — that helps the case for further gains.
- Worst case: a rug-pull to the 50-day line at 9068; we haven’t closed below that since early May, which is impressive strength.
DAX
The DAX has been struggling around the 50-day moving average, which is now falling. The market is testing the mid/floor of a rising channel that’s been visible since April. Technical notes:
- Channel floor / mid-channel: 23,400.
- Nearby support areas: roughly 23,500 and the August support zone near 24,000.
- Short-term rebound target: the 50-day line at 24,000 while we stay above the channel floor.
- Warning signs: two (possibly three) RSI failures below neutral 50 — that suggests a pullback risk.
- Worst case: a drop towards 23,000 if momentum fails.
- Upside channel target: 25,600 by the end of October if the channel holds.
Cryptocurrencies
Bitcoin
Bitcoin’s picture is mixed. The price found support at the lower edge of a channel that stretches back to March, but momentum is fragile.
- Channel floor: 109.
- 50-day moving average / immediate resistance: 115.
- RSI: still below neutral 50 — while that is the case there’s a risk of a pullback to July support around 105.
- Best case: stay in the channel above 108 and push toward higher targets (noting that a move much higher by the end of next month is optimistic).
Ethereum
Ethereum is trying to remain inside a rising trend channel that’s been in place since the start of last month. The setup is straightforward:
- 50-day line: 4127 — this is the immediate downside guard.
- RSI: just under neutral 50, so momentum is muted.
- Trigger to watch: an end-of-day close above recent resistance at 4500 would act as a simple momentum trigger and open a path toward 5500 (the top of the channel).
- If we stay above the 50-day line the upside remains valid; otherwise the market looks a bit sleepy.
Commodities
Gold
Gold is the standout this week — still pushing higher and tracking the top of a rising channel that started in April.
- Top of the channel target: 3800 (looking for this by the end of next month; possible to arrive sooner if momentum keeps up).
- Recent support: 3511.
- Overall: gold remains the “star of the show” while it stays above the recent support level.
Selected bulletin-board stocks
Below I run through the small-cap charts I’m watching. I give the triggers, stop/invalidation levels (typically end-of-day closes) and short-term targets.
Catenai
- Background: after a vertical May spike shares retraced but look set for another upside leg.
- Price action: above the 50-day line (0.25) and above a neckline/resistance at 0.29.
- Target: 0.5 pence by the end of this month.
Critical Metals
- Recovery: price broke back above the floor of a gap at 4.8p and has already filled the gap briefly up to 7.8p after midweek action.
- 50-day MA: 5.29p — as long as we remain above this the 10p target looks credible.
- Message: recovery after the overshoot to the downside last month—momentum is returning.
Defence Holdings
- Chart progression: earlier sub 0.5p levels turned into a sequence of breakouts; targets that once looked pie-in-the-sky have been hit.
- Current view: the upper parallel projection at 1.25p looks set to extend toward 2.0p.
- Best case: above 1.25p with 2p as a stretch target by the end of the month.
Galantas Gold
- With gold ripping higher, Galantas has room to run.
- Technicals: above the 50-day (3.5p).
- Target: 9p while the 50-day holds.
Hemogenyx
- One of the stars of the week — broke through recent resistance around 730p.
- Outlook: a retest of £1 over the next week is on the cards.
- Technical edge: a prospective golden cross (50/200 day lines) and valid momentum while we stay on the right side of 6p (logical end-of-day stop zone).
IMC Exploration
- Moved up 15% at the end of the week — that’s not trivial movement on thin air.
- Chart: rising trend channel; top of the channel points toward 1.5p by the end of next month.
- Valid while price remains above the channel floor and the rising 200-day line (0.54).
Mast Energy
- One of the year’s stronger stories — we’ve hit multiple targets including £1.42.
- Current target: best case to the £2.22 zone over the rest of this month, especially while price stays above broken resistance around £1.76.
Metals One
- Earlier mysterious rally fizzled, but the chart still shows reasons for hope.
- Signals: bullish RSI divergence (lower lows in price, higher RSI) and a broadening triangle base.
- Target: top of the triangle 9.8p by the end of this month while we remain above recent support around 4p (end-of-day basis).
RC Fornax
- Little-known name — recovering after a big June gap down.
- Setup: falling trend channel with the top of the channel around 22p.
- Target: 22p by the end of this month while price remains above recent broken resistance at 13p (end-of-day close).
Surface Transforms
- Big U-shaped turnaround with gaps and strong recovery action.
- We’ve already broken a second target (1.88p); next upside reference is the previous support on the way down at 7.12p.
- Valid while we remain on the right side of 2p.
Vault Ventures
- Not headline-grabbing news, but the RSI has moved back above neutral 50 for the first time since the end of June — that’s notable.
- Price action: the shares opened low and closed high on Thursday and Friday, suggesting buyers were active.
- Technicals: above the 50-day moving average (1.8p).
- Target: a minimum around 2.1p; ideally we’d like to hold above 1.5p in any pullback.
World Chess
- My first time charting this name — it’s in a broadening triangle base.
- 50-day line / upside target: 3.25p by the end of this month.
- Support/stop: remain above the 50-day / 1.5p on an end-of-day close basis.
Summary and trade management
Across markets the themes are similar: indices holding long-term rising channels but with pockets of momentum weakness (RSI tests below 50 on the DAX and in crypto). Gold is the notable strength. On small caps, several charts look constructive after recoveries or breakouts — I’ve listed pragmatic stop/invalid levels (usually end-of-day closes) alongside targets so you can manage risk.
“”End-of-day closes above key resistance levels are my simple momentum triggers — watch those closely.””
More updates will follow during the week — I’ll be watching whether indices can hold their channel floors and whether the crypto momentum can lift RSI back above neutral. For the small caps, keep the stop levels in mind and let confirmed closes guide your entries.
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.
