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, Ethereum, Gold, ACG Metals, Amazing AI, Avacta, Artemis, Bezant, Cadence, First Class Metals, Imaging Biometrics, Mast, MicroSalt, Pulsar Helium, S4, UK Oil & Gas, Wildcat.
Today I run through the major indices, cryptos, gold and a batch of small-cap UK names I’ve been tracking. The charts are talking: trend channels, 50-day lines, RSI bounces and a few gap plays. Below are the key levels I’m watching and my short-term targets.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Quick market snapshot
Overall tone: constructive. The major indices have found momentum this week, many remain inside rising trend channels and are trading above their 50-day lines. That suggests there’s room to run into the end of the month — provided we don’t suffer any nasty rug pulls.
FTSE 100
We’re fast approaching the top of the rising trend channel that began in June. My immediate targets are 9,560 and then 9,760 , with the expectation we could reach those levels well before the end of October / into November. Recent near-term support sits around 9,400 — that’s a reasonable stop for now. Worst-case on a deeper pullback would be revisiting the old 9,350 peak area from August/September.
DAX
After a gap up yesterday the DAX hasn’t yet exploded higher, but crucially it’s back above the 50-day line and remains within the rising trend channel from April. If momentum holds the upside could reach as high as 25,700 by the end of this month. The 50-day is currently near 23,900 and beginning to slope up — a bullish sign.
Dow Jones
This week produced a series of strong candles and the index is trading above the 46,000 area. I’m looking for a push towards 47,800 (the top of the rising red channel from May) possibly as soon as the end of October. A rug pull to the 50-day would bring us down toward 45,300 , but I’m not expecting much below that.
Cryptocurrencies
Bitcoin
Nice follow-through week — Bitcoin is back toward the 120k level and above the recent one-month resistance around 118k . My upside target is 132k (some institutions have similar year-end calls), and we could realistically get there by month-end if momentum continues. The downside to watch is the 50-day line around 113k .
Ethereum
Ethereum has been a bit disappointing recently. We saw a rug pull below 4,000 , but that did test the floor of the rising trend channel at roughly 3,820 . The current RSI resistance line from last November sits near current levels, so a positive close would help. On a weekly basis we remain above the 50-day (quoted here at ~ 4,397 ) but failure could mean another test of the channel floor near 3,885–3,820 . The target remains progress toward the recent September resistance in the upper 4,000s.
Gold
Performance has been excellent — we’ve hit the top of the rising channel from April at about 3,860 . I’ll be watching how deep any pullback is: ideally it holds above 3,800 , with a deeper support zone around 3,720 . If we stay above 3,700 the projection from October heads toward 4,170 by the end of November.
UK small caps and selected stocks
The usual mix today: solid moves, gap plays, RSI bounces and a few laggards. Below I summarise where I’m positioned and the levels I care about for each name.
ACG Metals
ACG has enjoyed a strong run inside a rising trend channel. The channel is pointing toward £10.50 — we’re not far off. The floor of the channel is around 875p . While the shares stay above recent support (around 950p ) I’m looking for £10.50 by the end of the month, with the upper parallel of the channel possibly heading toward £14.00 later in the year.
Amazing AI
Fundraising done and dusted — the shares have bounced above the 50-day (and that rising 50-day is a positive leading indicator). The short-term resistance to clear is 1.8p . If that breaks the next resistance projection sits up in the mid-single digits (the 5–6p area).
Avacta Group
We continue to edge higher in a good way; we gapped up mid-week. Still looking for 75p by the end of this month while we remain above the 60p level.
Artemis Resources
Artemis is attempting to get above the short-term resistance zone around 0.40p . An initial projection up to the 200-day resistance line would target roughly the 0.60p area.
Bezant
Bezant has gapped higher midweek and is following through. While staying above 0.06p I’m looking for moves toward 0.12p by the end of the month.
Cadence Minerals
Recovered after the recent raise — back above previous targets and currently trading above 4p . I’m looking for a retest of 6p by the end of the month if the momentum holds.
First Class Metals
Not checked in a while — the chart shows a rising 50-day, an RSI 50 rebound and a gap higher. The June resistance around 3.5p is the near-term target while the 50-day sits near 2p .
Imaging Biometrics
Another attempt at an upside break. The pattern looks a little like a falling wedge and we’ve cleared the 50-day at about 0.63p . A re-test of the 0.9p area could come later this month.
Mast
A painful chart overall. There was a decent move from ~60p to ~160p earlier, but the subsequent rug pull has been brutal. Shares are flirting with the 200-day moving average and face resistance around 50p . The important lower support to avoid is the July support projection near 35p . So technically a 35–50p range to watch for now.
MicroSalt
Couldn’t resist looking — recent candles are very strong (open low, close high moves), which often precede news or fresh contract wins. The technical condition is bullish while price stays above the 60p level I’m watching; I’ve got an end-November target on the chart that assumes continued strength. Target is £1.00
Pulsar Helium
Good performance this week: we hit our channel target just shy of 30.70p . That frees up a fresh projection which stretches into the 40p+ zone, with a resistance line projection even higher (up toward 50p ) if we remain above recent resistance in the 32–33p area. Above 33p, 50p by the end of next month is on the table.
S4 Capital
A long-running painful name for shareholders, though there are a couple of technical positives now: a gap-close buy signal and a bounce off the 50-day (around 22p ). Closing last month’s gap around 23p and staying above that gives a best-case target into the low 30s — 31p by the end of the month — but be warned: very volatile, not for the faint-hearted.
UK Oil & Gas
I’ve been saying that once above 0.05 there isn’t much resistance until the mid-0.1 region. We nudged above that level briefly and pulled back. The recent target area I’d like to see play out sits around 0.033 in the near term, so for now I’m watching the band between that figure and 0.05 while the market digests the recent fundraising.
Wildcat
Shares pulled back a touch yesterday but bounced back above the 200-day at 0.009 . Staying above that level keeps the path open toward the top of the broadening triangle from September at roughly 0.24 . We also have bullish RSI divergence (lower lows in price with an uptrend in RSI) and a rising 50-day — that’s encouraging for a proper move higher.
Key themes and trade ideas
- Trend channels and the 50-day remain central. When indices and names trade above a rising 50-day, the technical bias is uphill.
- Watch for gap fills and RSI 50 rebounds — they’re doing a lot of the heavy lifting on breakouts at the moment.
- Risk control is vital. For many names I’ve quoted a tight support level (the 50-day or the floor of a rising channel) which is a sensible stop if momentum fails.
Wrap-up
That’s it for today — a generally constructive tape with a number of charts in breakout or follow-through mode. I’ll be watching the FTSE, DAX and Dow for channel extensions into the end of the month, plus Bitcoin and gold for continuation moves. On the small-cap front, several names are primed for further progress if they clear the near-term resistance levels I’ve called out.
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.
