Zak Mir takes a charting look at the latest requests, including Arc, Genflow, Upland and Wishbone.
I ran through short technical updates on Arc Minerals, Genflow, Upland and Wishbone. Below, I summarise the charts, key support/resistance levels and what I’m watching next for each stock.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Arc Minerals — slowly turning, but the gap remains key
Arc Minerals is moving very slowly into a recovery after the gap down in May that opened from 1.37p . We still haven’t closed that gap yet, which is a little disappointing, but there are some encouraging signs on the internals.
The RSI is holding an uptrend line, which is positive. For me the simplest trade plan is straightforward: wait for an end-of-day close above the top of that gap as a gap-close buy signal, then look for the best-case targets in the 1.7–1.8p area.
““Wait for an end of day close above the top of that gap as a gap close buy signal.””
Key levels to watch:
- Gap close buy signal: close above the top of the May gap (watch for a daily close).
- Targets: 1.7p and 1.8p (best case).
- Support to hold: the 50‑day moving average , currently around 06p .
Genflow — testing the triangle/resistance; downside support important
Genflow keeps attracting attention — grants and updates — but the stock still has to contend with fundraising dynamics. Recently I suggested the shares would head up to the resistance line at the top of the triangle, around 2.5p . Today the shares narrowly missed, but we did revisit the one‑year resistance near 2.4p .
On any pullback, the more constructive scenario is that the stock holds important longer-term support:
- Main downside support: the 200‑day moving average , around 1.20p
- Earlier gap top to protect: the top of the gap from the start of the month at about 1.44p (company abandoned a fund raise recently).
If those levels hold on a pullback, a re-challenge of the triangle top / one-year resistance becomes more likely.
Upland — second target hit; can this rally stick?
Upland has reached the second target I’d flagged at 2.1p , which everyone likes to celebrate. The next meaningful level above is the old July 2024 support (now acting as resistance) at roughly 2.80p . I’d like to see this move be sustained rather than being sold into, which has been the pattern in recent rallies.
Short checklist for Upland:
- Key near-term support to hold the rally: the old turn‑of‑month / February‑March resistance around 1.80p .
Wishbone — above the 50‑day but RSI needs to recover
Wishbone is often compared to the “next Greatland Gold” by some — it’s a bold comparison given the market cap gap — but chart-wise the name is interesting. The shares are hovering above the 50‑day moving average at about 1.1p , which is constructive for now.
That said, the RSI is still below neutral, at roughly 47 (neutral is 50). While the RSI remains under 50 I’d generally be cautious or stand aside if I wasn’t already in the position. If the shares can stay above the 50‑day line, the next obvious retest is the 2p area — possibly by the end of next month if momentum builds.
- RSI: needs to move back above 50 to feel more confident.
- Upside retest target: 2p if structure holds.
Conclusion — patience and structure
Across these four names the message is similar: respect the structure, watch the key moving averages and gap levels, and don’t rush into a trade without a clean technical trigger. For Arc, the gap close is the trigger; for Genflow and Upland it’s holding the key supports and re-testing resistance; for Wishbone it’s staying above the 50‑day and getting the RSI back over 50.
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.
