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, Amazing AI, Alkemy, Eurasia, Ferrexpo, Jangada, Marechale, Manx, Shield Therapeutics, Sulnox, Trellus, and WeCap.
Markets are showing a familiar mix of resilience and caution. Major indices have bounced from recent pullbacks but face clear technical thresholds before any convincing trend reversal. Cryptocurrencies remain under pressure, gold is holding up, and a handful of small-cap stocks are staging interesting moves that are worth watching.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Index outlook — what the charts are saying
FTSE 100
The FTSE has bounced but remains capped around the recent Thursday peak near 9,600. An end-of-day close through that level would open the path back to the 9,650–9,700 zone — previously support on the way down — with the top of the rising channel near 9,950 as a year-end upside target.
Downside risks are clear: October support sits near 9,280, while the June uptrend line — currently around 9,440 — looks like the structural floor. Ideally that 9,440 area holds and the market resumes higher from here.
DAX
The DAX has been weaker than the FTSE. There was a bounce close to May support around 22,900, but the chart still carries the risk of slipping to the floor of April’s gap near 22,600 unless the index can close back above the 200-day moving average, around 23,400.
Above that 23,400 level the next reasonable upside is a run toward 24,000 and the 50-day moving average area. For now the picture is cautious rather than constructive.
Dow Jones
The Dow looks healthier, having bounced from the rising trend channel that began in June. The zone around 45,800 acted as support, but a break above the 50-day moving average near 46,600 is needed to target the top of the channel and a year-end objective as high as 49,000.
Seasonality also favours a stronger finish to the year, which supports the bull case if the key technical levels cooperate.
Crypto
Bitcoin
November has been brutal for crypto. Bitcoin’s rebound attempts are fragile. If it fails to hold the lower parallel and the September uptrend-derived support, the chart opens to a move toward roughly 76,000. A decisive break above 86,000 would be the cleaner path higher, with a potential move to the low 90,000s in the best case.
Ethereum
Ethereum is underwhelming. Previous support near 2,950 has turned into resistance, with recent highs only around 2,855. If ETH cannot reclaim the 2,900–3,000 zone early in the week, a retest of June/July support near 2,400 becomes the most likely scenario.
Gold
Gold is in a steadier technical position. It is holding above the rising 50-day moving average (around 3,982), and the RSI remains above neutral 50, which supports a constructive bias. Targets on continued strength are the 4,200+ area, with a one-year resistance projection near 4,600. The downside risk is a re-test of October support close to 3,870.
Small-cap watchlist
Several smaller names look interesting from a chart perspective. These are not buy recommendations but ideas worth monitoring for technical setups like breakouts, consolidations, and moving-average support.
- Amazing AI — The shares bounced around the 0.20p area as expected. Short-term resistance sits above 0.28p and a conservative target 0.80p would be in the mid-single-digit pence range, with an optimistic scenario pushing higher toward 0.50 to 0.60p the high-single digits if momentum builds.
- Alkemy — has moved higher on supportive headlines around UK critical minerals strategy. The chart broke an important resistance projection and on a daily close above the recent top the next nearer-term target looks like roughly 445p. Key support to respect is near 325p.
- Eurasia — Already showing strength on the chart and potentially a beneficiary of improving geopolitical headlines. A pragmatic target sits around 6.25p while keeping an eye on support near 4.9p.
- Ferrexpo — Follow-through after our earlier bounce; recently cleared the 65p area and can aim as high as 86p within the month if momentum persists.
- Jangada — New director activity has pushed the shares away from previous levels. While staying above the prior support near 1.5p, a reasonable target is in the low pence range, around 2.25p.
- Marechale — A main-board shell turning more constructive after breaking recent resistance. The next resistance projection is near 2.7p.
- Manx Financial — Chart shows a bull flag resting near the 50-day moving average. On a clean daily close above the 50-day the top of the channel points toward about 45p, with support near 23p.
- Shield Therapeutics — Breaking above the 50-day moving average and inside a rising channel. Short-term upside to roughly 11p while staying above the structural floor around 7p.
-
Sulnox — Gapped higher and consolidating mid-move. Current structure suggests a potential run to the 80p zone while staying above recent broken resistance at 58p.
- Trellis — Received backing from a major shareholder and gapped off the lows. With the 50- and 200-day lines rising, a target near 4.25p by the end of next month is plausible while remaining above a channel floor around 2p.
- WeCap — Mentioned among the small-cap universe and worth watching for chart-based setups; no fresh technical call at this stage but part of the broader watchlist. 4.25p is the target for the end of next month.
Key levels to watch this week
- FTSE 100: watch 9,600 (near-term resistance) and 9,440 (structural floor).
- DAX: a daily close above 23,400 would reduce downside risk.
- Dow: a break above the 50-day near 46,600 opens the way to year-end targets.
- Bitcoin: keep an eye on 86,000 and the potential for a move toward 76,000 on further weakness.
- Ethereum: failed reclaim of 2,900–3,000 would invite a revisit of 2,400.
- Gold: staying above the 50-day (~3,982) supports further gains to 4,200+.
Technicals remain the cleanest way to manage these ideas: respect end-of-day closes, use moving averages as trend filters and keep stops in place for small-cap volatility. The coming days will be telling — if markets can close above the key thresholds, the mid- to late-December rally narrative remains possible; if not, watch the structural floors for fresh evidence of trouble.
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.
