Zak Mir takes a look at a couple of the latest request charts: ECR Minerals (ECR), in the wake of its recent Bitcoin Treasury move, and Mirriad (MIRI), on speculation that the provider of virtual product placement may be in line for some new contracts.
In this update, I look at two recent requests on the show: ECR Minerals after its announcement about a Bitcoin treasury management policy, and Mirriad as traders speculate about potential new contracts. Below, I walk through the technical charts, what’s encouraging, what’s not, and the specific price levels to watch.
Quick overview
- ECR Minerals: A modest improvement in the chart (higher lows, rising 50-day moving average), but the market barely reacted to the Bitcoin treasury announcement. Key resistance sits around 0.22.4–0.25 and support at the top of the gap near 0.20.
- Mirriad: The shares gapped down sharply in May and are still trying to recover. The 50-day line is rising (a positive), but momentum is weak — RSI around 42 — and we need a convincing breakout to call this a bottom-fishing opportunity.
ECR Minerals — technical read and implications
What’s going on
On the positive side, ECR has been making higher lows compared with June, and the 50-day moving average is rising near the current lows — both signs that selling pressure may be easing. The company also announced a Bitcoin treasury management policy , which in theory could be a strategic move to diversify or manage treasury reserves.
Why the market didn’t move much
Despite the announcement, the price barely budged. That muted reaction suggests the news may have been perceived as delayed or already priced in. In simple terms, the market may have expected this earlier or needed something more substantial to spark buying.
“”We have held above the top of the gap there at 0.20 — and at least while we’re above that, we are potentially ready to move higher.””
Key chart levels to watch
- Support: Top of the gap at 0.20 — holding above this level keeps the bullish case alive.
- Immediate resistance: Around 0.224 — the market has shown a slight push here previously.
- Major resistance: 200-day moving average and 0.25 — a break above this zone would be needed to revive a stronger uptrend.
Where this goes next
The best-case near-term scenario is maintaining the higher lows and the 50-day rising line while holding above 0.20. To get appreciable upside momentum, ECR needs to break the 0.224–0.25 zone and clear the 200-day line. Until that happens, expect limited moves and a cautious market reaction.
Mirriad — what the chart is telling us
Background
Mirriad gapped down heavily at the beginning of May. That gap put a significant psychological and technical hurdle in front of the stock; any rally now needs to be convincing to restore confidence.
Technical picture
There are a couple of positives: the shares are trading around the 50-day moving average, and the 50-day line itself is rising — an encouraging sign. However, momentum is weak: the RSI sits around 42 , well below the neutral 50 level most traders like to see before considering a reliable recovery.
“”The RSI remains well below neutral 50. It’s 42. You probably want to see that at least push above the RSI 50 level in order to then have a reason for even considering that this is a potential bottom fishing opportunity.””
Key levels and targets
- Resistance / initial target: Top of the May channel near 0.20 — a breakout above here would be a useful first step.
- Momentum check: RSI moving above 50 would support a more confident bullish view.
- Support: Maintain the higher low made in August relative to early July — breaking below that would weaken the recovery thesis.
Timing and expectations
Reaching 0.20 is possible, but given the current momentum and the gap from May, it’s difficult to see the shares getting there quickly — the next month may be optimistic without fresh catalysts. The key is a clear push above the May-channel top and an RSI that moves into neutral-to-positive territory.
Practical checklist for traders
- For ECR: Watch 0.20 as short-term support. A break above 0.224 and then 0.25 (200-day) would be the trigger for a more committed long view.
- For Mirriad: Wait for RSI > 50 and a clean break above the May channel top (0.20) before treating this as a low-risk bottom-fishing opportunity.
- Always confirm breakouts with volume and keep stop-losses in place — these small-cap situations can remain volatile.
Conclusion
Both ECR Minerals and Mirriad show mixed technical signs. ECR has some positives in its chart structure and a rising 50-day line, but the Bitcoin treasury announcement failed to ignite buying — likely because it arrived later than the market expected. Mirriad has the benefit of a rising 50-day line too, but momentum indicators like RSI remain below what you’d want to see before committing to a recovery trade.
This is not financial advice. If you trade these names, use clear entry rules, watch the specific levels outlined above, and manage risk carefully. If you found this useful and want more regular chart reviews, check out my other updates and feel free to send in requests for charts you’d like me to cover.
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.
