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, Gold, Andrada, Anglo Eastern, Capai, Cloudbreak, GEO, Ithaca, Mast, Mila, Pri0r1ty, Sunrise, Wishbone.
In today’s round-up, I take a charting look across the major indices, crypto, gold and a slate of small-cap and bulletin‑board stocks. Below you’ll find the key levels I’m watching, likely scenarios and price targets I’m working towards over the coming weeks.
Market overview — indices and macro
FTSE 100
The FTSE has pushed to fresh highs, touching the red resistance line at roughly 9,330. We hit that level when I was expecting it and now the obvious extension is towards the top of the rising trend channel from June — as high as about 9,500 by the end of next month.
- Key near-term support now: 9,222 — previously resistance, now acting as a neckline/support.
- Worst case to watch: a test of the June channel floor 9,150 (August initial support was 9,027).
- Bias: bullish while price stays above 9,222; expect slow, steady upside.
DAX
The DAX is grinding against a clear resistance (the “chili” line) around 24,500. It’s bounced there but doesn’t yet have the conviction to take out 24,500 and run.
- RSI ~53 — positive consolidation, not a breakdown.
- 50‑ and 200‑day moving averages are rising (healthy backdrop).
- Clearance above 24,500 would open a run to 25,500 by the end of next month.
- Absolute downside floor to respect is around 23,500 (July/August support).
Dow
The Dow is testing record high territory and faces the natural psychological resistance around 45,000. Many participants are reluctant to be buyers at the perceived top — that can keep price stuck until a definitive breakout occurs.
- Key keep‑above level: the 50‑day line at 44,000.
- On a decisive break of 45,000 we can reasonably target 47,500 (top of the May channel) by the end of next month.
- Strategy: if dips present toward the 50‑day line, that’s the place to look to buy.
Crypto
Bitcoin
Bitcoin has been a bit fragile recently — we slipped back below the level we didn’t want to lose ($115k) but found support near old May resistance ($112k).
- On the bullish path to the top of the rising March trend channel ($132k) if momentum returns.
- Triggers to watch: an end‑of‑day close back above the 50‑day ($116k) or an RSI back above 50 (RSI currently 43).
- Downside guard: July support in the $105–106k area.
Ethereum
Ethereum is trying to outperform Bitcoin — it’s found support near the old December resistance (lows $4,100) and has shown two sharp RSI 50 rebounds this month, which is constructive.
- Near resistance: $4,530.
- Best‑case while above $4,000: up to $5,500.
- Positive setup as long as the 4,000 region holds.
Gold
Gold remains very slow, grinding along the bottom of the rising April channel. This market looks like a positive consolidation but lacks urgency after big gains earlier in the cycle.
- Channel floor: around $3,320.
- Immediate resistance to clear: $3,410 (April resistance line).
- Breaker: a clean break above $3,410 would give a path to $3,800 by the end of next month.
Selected small caps and bulletin‑board picks
Below are the individual names I discussed, the technical posture and the targets I’m monitoring. These are chart‑driven observations — keep stops tight and focus on the levels noted.
Andrada Mining
Shares are sitting on a rising trend channel base with the 200‑day around 2.7p.
- Near target: hoping for up to 4p+ by the end of next month.
- Context: slow since mid‑April but constructive at the channel base.
Anglo-Eastern Plantations
This one has already hit the first target around 12p — nice follow‑through through the top of the rising November trend channel.
- Next geometric target: 16p by the end of next month.
- Key support: stay on the right side of 11p (recent bull‑flag floor).
- Strength evidence: multiple support points at/above RSI 50 and a convincing gap through 10p with follow‑through.
capAI
Cap AI has shown two RSI 50 rebounds this month — a sign of recovery.
- Keep above 0.50p and the stock can retest the top of its range (0.68p) by the end of next month.
Cloudbreak Discovery
What was an “ugly duckling” has turned into a swan — the stock blew the doors off today.
- Initial breakout target was 0.30p — we’re above that now.
- Best case: as high as 0.50p by the end of next month while staying above 0.30p.
- Risk: a potential fund raise or short‑term pullback could force a retest of June support around 0.22p.
GEO Exploration
I’ve covered GEO several times. The structure got a little messy but RSI behaviour has been healthy.
- Initial target zone: 0.24p, with a second target 0.42p by the end of next month.
- Technical watch: stay on the right side of 0.25p as the name builds higher.
Ithaca Energy
Not a typical microcap we profile, but it’s been moving well — breaking old resistance around 185p and eyeing the upper parallel of the broadening base.
- Target: 260p by the end of next month.
- Near support: the old target (188p) should act as new support if price holds.
Mast Energy
Mast continues the bullish breakout sequence — we’re approaching the final target in my progression.
- Final (fifth) target: 140p — expected by the end of next month, possibly sooner given current momentum.
- Keep a protective level around yesterday’s resistance (105p) as a reference for stops.
Sunrise
First signs the shares can deliver a fresh leg up: price has hit the rising channel top and is above the 200‑day.
- 200‑day: 0.022p; channel top reached 0.024p.
- Target: upper parallel of the rising channel 0.047p by the end of next month if momentum continues.
Wishbone
Wishbone has executed cleanly through the sequence of targets I set out previously.
- Progression: first target 0.29, second 0.50, third 0.72, fourth 1.10 — we’re exceeding the fourth today.
- Next resistance: the old May 2024 resistance around 1.45p — that’s a plausible zone by the end of next month.
- Key support: stay above today’s gap (0.96p) on the way up.
Key technical themes and strategy
- Trend channels matter — most of the setups above are simply channel trades: buy strength and respect the lower bounds for stops.
- RSI 50 rebounds have been an early leading indicator across several names — watch for those re‑entries.
- On large indices, a clearance of obvious resistance levels (FTSE 9,500 channel top, DAX 24,500, Dow 45,000) is the ticket to a higher target for the following month.
- Small caps: volatility and potential fund‑raise risk remain — manage position size and use the support levels mentioned.
“My simple mantra: clear the resistance, then look for the next channel top. Trade the structure, not the hype.”
Conclusion
Markets are in constructive patterns across a number of instruments, but momentum is slow in places. Watch the levels I’ve highlighted — they give clear risk/reward thresholds. I’ll be back with more charts and updates tomorrow.
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.
