Zak Mir takes a charting look at S&P 500, Nasdaq 100, Applied DNA, Aurora Cannabis, Bakkt, Cycurion, JFB, Plus Therapeutics, Steakholder, comScore, Tilray, and Wolfspeed.
Below I walk through the big-picture S&P and Nasdaq technical setups and then run through the individual stocks I highlighted — where they stand, the key levels to watch, and my near-term targets. The tone here is chart-driven: support, resistance, trend channels, moving averages and RSI all matter. Keep those in mind as you read.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Market pulse: S&P 500
The S&P is in a constructive spot right now — trading close to the top of a rising trend channel that’s been in place since April. Here’s how I’m viewing it:
- Near-term upside target: 6,840 (my end-of-October target while the market stays above recent support).
- Immediate support: mid-September support around 6,550.
- Key floor: the 50-day moving average (6,467). Staying above that keeps the rising channel intact.
- Downside scenario: if we break channel support, the lower-60s zone becomes a potential destination — and when these things break, they can tumble faster than people expect.
Bottom line: optimistic while price remains inside the rising channel and above 6,550–6,467. A break below would force reassessment.
Market pulse: Nasdaq 100
The Nasdaq 100 is consolidating in a useful area. The technicals say:
- Key consolidation zone: just above 24,000 (50-day moving average sits around 23,700).
- Near-term upside target: 25,500 (top of the April trend channel).
- Best-case extension: up to 26,200 by late January resistance-line projection.
- Downside: a rug pull would probably put the index just below 24,000 toward the 23,700 area.
In short: the index looks fine so long as it holds the 24k area; a breakdown would open up larger declines.
Stock watch: high-conviction setups and short-term targets
Below are the individual names I covered, the technical situation for each, and my targets for the near term (generally aiming for the top of trend channel by the end of next month unless noted).
Applied DNA Sciences, Inc. (APDN)
- Setup: Broke the 50-day moving average as we wanted and is now working toward the top of its rising trend channel (base from June).
- Target: Approximately $7.35 area (top of the channel) — expect this in coming sessions if momentum holds.
Aurora Cannabis Inc. (ACB.)
- Setup: Moving up on a gap; has been range-bound but shows a bullish gap and possible bear-trap/island reversal pattern (gapped down to new lows then gapped up twice).
- Support/resistance: Needs to stay above broken resistance around $5.80.
- Indicators: 50- and 200-day moving averages are both rising — supportive.
- Target: Top of the channel toward the $7.40 area by the end of next month.
Bakkt Holdings, Inc. (BKKT)
- Setup: Exceeded the initial target around $18.70 and now looks to build a fresh leg higher.
- Support: Recent broken resistance near $21 — staying above that is helpful.
- Target: Up to $35 (top of the past-year range) by the end of next month if momentum continues.
Cycurion, Inc. (CYCU)
- Setup: Attempting to bottom; volatility remains, but the 50-day moving average is rising and dips toward it have been buying opportunities recently.
- Indicators: RSI has rebounded above 50 — a constructive sign.
- Risk level: Would rather see price stay above the $0.40 area (former resistance on the way down).
- Target: Top of the broadening triangle near $0.60 by the end of next month (or sooner).
JFB Construction Holdings (JFB)
- Setup: Gapped up toward a resistance projection from March; had previously fallen out of a rising trend channel.
- Key level: Needs to stay above $10.06 (August resistance now acting as support).
- Target: Up to $14.60 by the end of next month if it holds above $10.60 — sooner if it accelerates.
Plus Therapeutics, Inc. (PSTV)
- Setup: Trading in a rising trend channel base and recently cleared the 200-day moving average ($0.73).
- Dynamics: When stocks clear the 200-day, they often face resistance at first — this name had some resistance at month-end — but the unfilled upside gap plus a rising 50-day could help push it higher.
- Target: Up to $1.02 (top of the channel) by the end of next month or sooner.
Steakholder Foods Ltd. (STKH)
- Setup: Gapped up and is attempting to clear the 50-day moving average — we actually closed above the 50-day ($0.63).
- Key level: Stay on the right side of the 50-day ($0.621).
- Target: Move toward the top of the recent range / falling trend channel near $0.92 by the end of next month.
comScore, Inc. (SCOR)
- Setup: Gapped up toward the top of a rising trend channel base ($10.50 level in my notes) and has had multiple RSI rebounds in the upper 40s — these can be leading indicators.
- Key level: Must remain above the $8 area (recent resistance on the way down).
- Target: Best-case up to $15 by the end of next month if it breaks quickly through the $10 zone.
Tilray Brands, Inc. (TLRY)
- Setup: We recently hit and exceeded our first and second targets (first around $1.20, second $1.95).
- Key level: Stay on the right side of recent broken resistance at $2.15.
- Target: A fresh leg toward old resistance on the way down, near $3.00 — targetable by the end of next month or sooner.
Wolfspeed, Inc. (WOLF)
- Setup: Previously covered bullishly; the recent large rise is partly a consequence of consolidation and share restructuring (net rise cited around 200% after consolidation), but the chart still matters — it broke the top of a rising trend channel base and has been in focus.
- Note: Always check the share structure and news behind massive percentage moves; the technical breakout is meaningful but context matters.
How I’m trading
My approach is straightforward and chart-first: look for names that are (a) trading above rising 50- and/or 200-day moving averages, (b) holding recent broken resistance as new support, and (c) offering a clear reward-to-risk toward the top of a trend channel or former resistance. RSI rebound patterns and gap behavior (filled vs. unfilled, island reversals) are high-priority signals for short-term entries.
Risk control is key — I want to see the price stay on the “right side” of the short-term moving average or recent support level. If that level fails, I reassess quickly rather than hold to hope.
Wrap-up
Overall, the market backdrop is bullish while the S&P and Nasdaq stay within their rising channels and above critical moving averages. Several small-cap setups I highlighted have high reward-to-risk characteristics if they hold their support levels and keep their momentum.
I’ll be watching these levels closely and posting more updates tomorrow. If you follow my charts, focus on the support/resistance levels mentioned above and let price action guide you — stay disciplined with stops and position sizing.
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.
