Zak Mir takes a look at the latest charting requests. Today’s selection includes Avacta, EnergyPathways, Fulcrum, First Class Metals, and Kodal Minerals.
Quick technical updates on five small-cap names: Avacta, EnergyPathways, Fulcrum Metals, First Class Metals, and Kodal Minerals. Each write-up focuses on chart structure, moving averages, RSI behaviour and clear price levels to watch. The tone is practical: what’s working, what threatens the setup, and the simple levels that matter for traders and investors.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Avacta — acceleration inside a long rising channel
Avacta has been in a steady rising channel since June. What stands out is the long-running uptrend in the RSI stretching back to around May, with the price consistently forming higher lows above a rising 50-day moving average. That combination is a bullish structural signal and suggests the trend remains intact.
“We want to see this market stay above 75p” — above that the minimum target is 90p and the best case is 105p.
Practical levels and context:
- Key support: 75p (recent uptrend line)
- Leading support: rising 50-day moving average (helps validate higher-low structure)
- Near-term target: 90p (top of the earlier rising channel)
- Stretch target: 105p (if the angle of ascent steepens as it has recently)
- Main risk: surprise fund raises or cash calls that erode confidence
Bottom line: as long as price stays above the 75p uptrend and RSI remains constructive, upside towards 90p and potentially 105p is the reasonable path. The primary caveat is fundamental events that would invalidate the technical advance.
EnergyPathways — range-bound with binary news risk
EnergyPathways has been drifting on either side of the 200-day moving average, roughly around 5.1p. The chart is essentially range-bound with the obvious top of the range near 7–7.12p (September spike aside) and the present support area in the mid-4p region.
“We want to see that RSI back above neutral 50.”
Key levels and what to watch:
- Immediate support: 4.6p (initial November support)
- Resistance: 5.6p (recent resistance that needs to be reclaimed)
- Target on breakout: 7.0–7.12p (top of the established range)
- Bear case: break below 4.7p risks a slide to July support around 3.5–3.6p
- Technical warning: repeated RSI 50 failures — a sign momentum is weak unless RSI regains 50+
- Fundamental caveat: company news can quickly tip this into a breakout or breakdown, so treat this as a binary setup
Fulcrum Metals — quiet, but not broken
Fulcrum has gone sideways for a while and is currently hovering around the 50-day moving average at about 6.7p. Sideways action after prior moves often means accumulation or a pause, but it also means the previous trend lines have lost some relevance while price digests.
Key levels and scenarios:
- Near-term base: 50-day moving average, 6.7p
- 200-day support: 5.5p — a level that could hold if the market drifts lower
- Upside target: 8–9p (a reasonable target early in the new year if momentum resumes)
- Tone: currently “ominously quiet” — quiet markets can break sharply once news or momentum returns
Bottom line: still on the right side of the 50-day, but patience required. A clear push above recent congestion would open the path to the higher target band.
First Class Metals — needs to reclaim the 200-day
First Class Metals has repeatedly failed around, and just above, the 200-day moving average. That makes the 200-day a make-or-break point for the bulls. Immediate support sits around 1.6p; below that the bears gain control and a slide toward 1p becomes more likely.
Practical checklist:
- Support: 1.6–1.7p (near-term critical zone)
- 200-day moving average: 1.9p — a decisive close back above this would be constructive
- Upside on reclaim: retest of the 3p zone if the 200-day is reclaimed on a daily close
- Bear case: failure to hold 1.6p risks a drop toward 1p
Strategy for bulls: wait for a clear end-of-day close above the 200-day line before leaning in. Momentum under the 200-day has been lacking.
Kodal Minerals — breaking the downtrend, watch the 200-day
Kodal has recently broken a falling trend channel that began in November and is now attempting to climb higher. The chart forms something like a broadening triangle with a short-term target around 0.45p. The 200-day moving average, near 0.32p, is the immediate guard; holding above it would support a move toward 0.45p.
“Ideally whatever happens we stay above the 200 day moving average of 0.32 ahead of a potential move to 0.45.”
Key levels:
- 200-day moving average: 0.32p (critical support)
- Near-term resistance/target: 0.45p (top of the broadening triangle)
- Technical posture: broken the short-term falling channel — constructive if the 200-day holds
Key takeaways
- Trend and momentum matter: rising 50-day with higher lows is a bullish setup (Avacta). Repeated RSI 50 failures warn of weak momentum (EnergyPathways).
- Moving averages are practical triggers: daily closes above the 200-day are useful confirmation for bulls (First Class Metals, Kodal).
- Know the binary setups: some charts are range-bound but primed for a snap move on news — treat these as binary risk/reward situations (EnergyPathways, Fulcrum).
- Fundamental risk remains real: unexpected fund raises or company-specific announcements can invalidate a clean technical setup quickly.
Use the levels above to manage risk: set clear support-based stops, watch RSI and moving-average behaviour, and treat any fresh news as a potential catalyst that can either accelerate the move or reverse it.
Disclaimer: The information presented in this article represents the views and analysis of the author and is provided for informational purposes only. It should not be interpreted as financial, investment, or legal advice. Investors should conduct their own due diligence and consult a qualified adviser before making investment decisions. Investing in AIM-listed companies involves risk, and past performance is not indicative of future results.
