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, East Star, GCM, Genflow, Hemogenyx, Hydrogen Utopia, LPA, Nuformix, Ormonde, Physiomics, Strategic Minerals, TinyBuild, Cornish Tin, Xtract.
everal small-cap bulletin board stocks are showing interesting technical setups — double bounces, rising trend channels and potential breakouts — but many remain dependent on staying above key moving averages and prior support zones.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Below is a chart-driven, practical summary of key levels, likely paths and stocks to watch over the coming weeks.
Major indices
FTSE 100
The FTSE is tracking a clear rising red channel. Key levels:
- Support: around 10,320 (recent support zone)
- Near-term target: 10,600–10,700 by the end of next month
- Notes: RSI is showing an overbought reading but has formed a strong base around the 60 level — a constructive backdrop for further upside. The old January resistance around 10,250 now looks like a potential support if there is a pullback.
DAX
The DAX is holding close to the rising 50-day line and has used this area as a buying point recently.
- 50-day line: 24,436
- Upside target: 25,000 on a rebound
- Downside risk: a break would expose the 200-day line near 24,000
- Momentum: RSI has failed below neutral 50 and sits around 45, which raises the probability of further downside unless momentum recovers.
Dow
The Dow is consolidating just below the psychologically important 50,000 level.
- Support: floor of the current trend channel near 49,000; 50-day line 48,500 if there is a sharper pullback
- Upside: target is the February 2025 line just above 50,000 while price holds inside the lilac channel
- Momentum: RSI has bounced above 50, which gives some encouragement for higher prices, although the pace may be measured.
Crypto — momentum and risk
Bitcoin
Bitcoin is inside a falling red trend channel and remains under pressure.
- Immediate risk: continued drift toward 62,000 if the down channel persists
- Support to watch: 74,000 (last year’s support area); an intraday close below that keeps the lower target on the table
- Condition: heavily oversold technically, but oversold conditions can persist while prices continue to fall.
Ethereum
Ethereum is still above its April support but vulnerable to a test lower.
- Potential test: the April support area around 1,400
- Channel floor target: 1,720 by the end of the month while price remains below the initial monthly support at 2,200
Gold
Gold remains volatile but offered a clear buying opportunity at the 50-day moving average earlier in the week.
- 50-day line bounce: around 4,516 — would have been a good buy-limit execution point
- Trading range: between roughly 4,500 and 5,000 at present
- Key signal: an end-of-day close above 5,000 would put a retest of 5,500+ back on the table
Selected bulletin board and small-cap stock highlights
These are short technical notes on names showing setup potential. The focus is on moving-average support, trend channels and break points that would confirm next moves.
- East Star — Double bounce off the 50-day line. Trading around 3.3p with a projected resistance near 5p by the end of the month. RSI has rebounded above 50.
- GCM Resources — Range-bound between roughly 4p and 8–9p. Heading for the top of the channel around 10.5p in coming days; a break and close above 10.4–10.5p could open a fresh leg toward the upper parallel near 14p. Keep recent support in the 7–12p area in mind.
- Genflow — In a rising trend channel; top of channel heading to about 3.7p next month while staying above the 50-day (1.87p). Broken resistance at 2.1p is a key zone to reclaim.
- Hemogenyx — Hit the target line again and looks to be building a fresh leg higher. Short-term upside towards about £13.16 if it can spend more time above the prior 910p area. RSI shows an uptrend line supporting the move.
- Hydrogen Utopia — Market makers appear to be capping the shares in a range. Watch the 2.6p to 3.8p band; a move above 2.6p targets 3.8–3.84p in the coming weeks. Recent placing and odd bid/ask behaviour are worth noting.
- LPA Group — Cleared the 200-day line at about 47p. Targeting the triangle top near 62p by month end. Early bullish divergence helped start the move.
- Nuformix — Bear-trap rebound from below the 50-day 0.18p; if it holds above the recovery level 0.3p the case exists for a move to refill the gap and push toward higher levels over the month.
- Ormonde Mining (Aquis plays) — Placed into a rising channel since early 2024. Top of the channel around 0.35p is a target for next month while support sits above a rising 50-day line and recent support near 1.6p.
- Physiomics — Both 50 and 200-day lines are rising, 0.45p setting up a potential golden cross once the slack from the recent spike is taken up. Ideally the shares reclaim the upper 50s before broader bullish conviction returns.
- Strategic Minerals — Previously hit the target 2.4p and is now aiming for 3.5p and possibly up to 4.6p by the end of next month. Key support to hold is around 2.5p.
- TinyBuild — Positive company update today. In a rising channel with a top near 12p looking possible by the end of March. Notional support around 7.5p.
- Cornish Metals — Strong announcement and a rising channel with the top near 160p. Floor of the recent gap around 128p acts as main support.
- Xtract Resources — Bouncing above rising 50 and 200-day lines with a possible golden cross forming. Target at the top of the broadening triangle around 1.32p while remaining on the right side of the short-term support zone.
Key technical themes and practical takeaways
- Rising trend channels rule the day — Many indices and smaller names are trading inside upward-sloping channels; staying inside those channels keeps the bias bullish.
- 50-day and 200-day moving averages remain the most-watched levels — a hold above the 50-day often equals a buyable dip, while a breach toward the 200-day increases downside risk.
- RSI behaviour matters — an RSI base in the 60s supports continuation, whereas failure below 50 (as on the DAX) warns of potential weakness.
- Crypto remains different — Oversold readings are present, but the falling channel keeps downside targets alive until meaningful structure is reclaimed.
- Small caps demand context — Watch for clean end-of-day closes above breakout levels (for example, 10.4–10.5p for GCM) before assuming a sustainable trend change.
What to watch this week
- FTSE support at 10,320 and the target zone 10,600–10,700.
- DAX momentum around the 50-day (24,436) and the 200-day (24,000) on a breakdown.
- Dow’s reaction to the 50,000 area and the channel floor near 49,000.
- Bitcoin 74,000 as a key support line; below that opens up the 62,000 area.
- Gold closing above 5,000 for a potential run to 5,500+.
- Small-cap breakouts: watch end-of-day closes and reclaim of key prior resistance levels before committing.
More updates expected as price action unfolds and fresh data arrives. Keep an eye on moving-average support and RSI behaviour to separate healthy pullbacks from genuine trend breaks.
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.
