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, 80 Mile, Empire Metals, Ecora, ECR, Fusion, Metir, Mila, Physiomics, SolGold, Smarter Web, Thor Explorations, Tialis, Tertiary Minerals.
I’ve split the indices and crypto from the smaller caps because they’re not behaving the same way right now. Below, I outline the technical picture for the FTSE 100, DAX, Dow, Bitcoin, Ethereum, and gold, highlighting key levels, moving averages, and what the indicators are suggesting.
Quick takeaways
- FTSE 100: Broke the June support line at 9,180 — the 50-day (9,042) and August support (9,027) create a 9,030 zone to watch.
- DAX: Has slipped below a support line near the 24,000 area and could test August support around 23,400; June support sits near 23,000.
- Dow: Eyes on 45,000 as a near-term support; breakout upside target near 47,700 if strength returns.
- Bitcoin: Struggling but holding a rising trend channel — needs an end-of-day close above 110,000 to target the 50-day (116,000); immediate support 107,000–105,000, worst-case 200-day ~101,000.
- Ethereum: Still in a rising channel from July — floor roughly 4,350, upside to 5,500 possible; RSI has bounced at neutral 50.
- Gold: Put in a proper breakout after consolidation; while above the channel floor and the 50-day (3,350) the next target is ~3,800.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
80 Mile
We’ve broken out of the falling trend channel and taken out resistance at 0.29p. The next upside target I’m watching is 0.37p by the end of this month. The 50-day moving average is rising and the mid-20s have provided steady support in the past. Ideally we stay on the right side of 0.30p over the near term.
Empire Metals
This one has “blown the lights out” recently — we’ve already cleared the 60p target and now I’ve got an eye on the lilac projection around 75p, ideally by month-end. Key support to hold is roughly 55p; staying above that keeps the bull case intact.
Ecora Resources
Ecora delivered a decent RNS today: the sale of the Dugby gold royalty for up to $20bn (a very large number relative to the company’s market cap). The stock has been in a rising channel since the spring and is heading for a 90p target into the next month. A close above about 77p (end-of-day basis) would be constructive; the channel floor and 70p area are my downside guards. RSI has produced several rebounds above 50, which supports the momentum case.
ECR Minerals
Feels like the company is willing the shares higher — we’ve seen a small bull-flag consolidation (a mid-move pause). There’s an unfilled gap above and the price is sitting around the 200-day line with a positive RSI trend. I’m targeting 0.37p by the end of the month, assuming no dilutive fundraising surprises.
Fusion Antibodies
Support has formed around the prior target at 14p. If that holds, I’m looking for a move to roughly 21p by month-end. A second RSI 50+ rebound would help drive momentum over the next three to four weeks.
Metir
This lesser-known company has put in a vertical move recently and cleared the January resistance at about 0.9p. Above that level the next objective is around 1.5p by the end of next month. The story here is stronger while the shares remain above the low-nines; multiple RSI 50 rebounds since June suggest decent momentum.
Mila Resources
Mila continues to consolidate in a mid-move bull flag between roughly 0.8p and 1.0p. Both the 50- and 200-day moving averages are rising — helpful for the bulls. If momentum holds and we stay above the 0.8p area, I’m looking for about 1.4p by month-end.
Physiomics
This was a requested ticker — the requestor said contracts are flowing in. The last announced follow-on contract was around £38,000, and the market cap is tiny (around £1.4m), so even small contract flow can move the dial. Technicals: 50-day MA near 0.45p; as long as we stay above that I’m eyeing about 0.62p by the end of the month if the momentum continues.
SolGold
SolGold is benefiting from the current breakout in gold. The initial target was 11.75p; the next resistance projection (from the August 2023 trend) is heading toward about 18–19p. I’m looking for that by month-end, provided we remain above the 14p zone that acted as resistance on the way up and support on the way down.
Smarter Web
This one’s a bit of a nailbiter on where it will find sustainable support. The intraday low touched 110p, which was the May peak and a plausible support area. Immediate resistance is about 125p — snap that and the downtrend could be broken. RSI is oversold (just under 30), but there’s still risk: an end-of-day close back below 110p could send the shares toward the 200-day moving average around 83p. Key levels: 83p (200-day), 110p (short-term support), 125p (resistance).
Thor Explorations
Thor has lifted 13–14p recently. The old target was 65p; above that I’m looking toward 80–82p by the end of next month, particularly if the gold price keeps climbing. A stronger gold price would help push the case — I’m watching the gold level as an underlying driver of upside here.
Talis
Talis gapped up today after an RNS announcing a significant contract expansion — an expanded agreement of about £50m versus a relatively small market cap (I’m using £17m in context). The shares are up 52% on the gap. On the chart the top of the channel is near 112p, which is the target I’ll be watching during September while the stock holds above recently broken resistance at 81p.
Territory Minerals
There was a decent reaction to today’s news and the stock is nudging the top of its channel. The near-term upside target I have on this move is around 0.6p (top of the channel). A clean end-of-day close above the 200-day line (black line on my chart around 0.48p) would be a useful confirmation, but as ever there’s the perennial worry of a fund raise on strength given the company’s history.
Final notes and risk reminders
- Most of the targets I’ve mentioned are short-term (end of this month or the next month) and are based on chart projections and current momentum.
- Keep an eye on key support lines (50-day/200-day moving averages, prior resistance turned support). A failure of these levels increases downside risk.
- Small-cap stocks can be volatile and are often subject to fund-raising which can dilute positions — always factor that into risk management.
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.
