Zak Mir takes a charting look at S&P 500, Nasdaq 100, Alset, Biosig, Forward, Maze, Next, Opendoor, Optical Cable, ProKidney, Profusa, and reAlpha.
In this update, I take a quick, technical look at the S&P 500, Nasdaq 100 and a selection of US-listed small caps that are showing clear momentum setups. The focus is on clean trend channels, RSI behaviour and unfilled gaps — the kinds of charts that tell you where the upside is most likely to come from and where sensible stops should sit.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Market overview: S&P 500 and Nasdaq 100
Both the S&P and Nasdaq remain constructive. The S&P has shown multiple RSI rebounds above neutral 50 and recently cleared a bearish-divergence resistance line formed in July. That limited downside profile itself is a bullish signal.
- S&P 500: recent broken resistance sits around the 6,550 zone. The top of the rising channel is projecting to the high 6,750s by the end of next month — with the current strength it’s possible we get there sooner, even by the end of this month while price stays above recent broken resistance.
- Nasdaq 100: the AI revival (Oracle and other AI names) is helping drive the index. The initial upside target is the April rising trend channel top near 25,000. Best-case upside toward late‑January resistance projects into the ~26,000 area. The 50-day moving average sits around 23,300 — price has essentially held above that since early May with only a small blip this month.
Stock watch: momentum setups and targets
Below are the charts I covered — each entry includes what I saw, the immediate technical trigger, where I want to see the stock hold for continued bullishness, and the near-term upside target (timing generally by the end of this month or the end of next month unless stated otherwise).
Alset
- Action: We blew past the earlier target around the $3.50 level.
- Technicals: Multiple RSI rebounds above 50 — the shares were already in a bull run before the latest spike.
- Target: Fresh move to the upside toward the upper parallel of the rising trend channel from end-June last year — up to $5.25 — by the end of next month.
BioSig Technologies
- Action: Bounced off the floor of the rising trend channel that began in May; strong day where the shares opened low and closed high.
- Technicals: Sitting above the 50-day line (noted in the chart) — clean channel support.
- Target: Top of the May rising channel, as high as $9.50 by the end of next month (could happen sooner depending on strength).
Forward Industries
- Action: Filled a previous shortfall — an unfilled gap to the upside through a rising trend channel in place since April.
- Key levels: Recent broken resistance at $32 — ideally the shares stay north of $30 as a healthy retracement threshold.
- Target: Top of the channel up to $43, expected by the end of this month while price remains above the broken resistance.
Maze Therapeutics
- Action: Unfilled gap to the upside and closing near the day’s high — momentum day.
- Key support: Stay above $20 (ideally $22, splitting yesterday’s trading range).
- Target: Top of the channel toward $30 by the end of this month.
Next Technology
- Action: The stock has been covered several times and finally showed a bounce with bullish divergence — lower lows on price, higher RSI trace.
- Key level: Recent broken resistance around $0.27 is the level to remain above.
- Target: Best-case up to $0.63 by the end of this month while the bounce holds.
Opendoor Technologies
- Action: Blasted through the top of its channel with a gap — the initial channel target has already been achieved and price is now tracking the upper parallel of the April rising channel.
- Technicals: Above RSI 50 since early July with multiple successful RSI 50+ rebounds — constructive momentum.
- Key stop: Keep the right side of yesterday’s mid-range around $9 as the stop area.
- Target: Channel upper parallel heading toward $14.
Optical Cable
- Action: Shares have bumped into the top of the channel that has been in place since March, sitting around the $9 area.
- Key support: Stay above previous broken resistance near the $7.20 area.
- Target: A new leg to the upside, potentially up to $14 by the end of next month.
ProKidney
- Action: Bounced off the floor of a rising trend channel in place since the start of the year.
- Technicals: Closed well above the rising 50-day line — a leading indicator on the upside.
- Target: Initial target is the old mid-July resistance around $4, hoped for by the end of this month or sooner.
Profusa
- Action: Showed a bear-trap reversal — gapped down in July and gapped up recently.
- Conviction: Not a perfectly tight setup yet, but constructive while above late‑August / early‑September resistance at $0.42.
- Target: A move toward the 50-day line at $0.75 if momentum continues.
reAlpha
- Action: A decent technical — hit the top of a falling trend channel and actually exceeded it around $1.20.
- Key levels: Looking for follow-through toward the $2 mark by the end of this month while holding the breakout. Note: the name remains on the right side of its 200-day moving average (around $0.94) after recent upside gaps.
How I’m trading these setups
My approach here is practical: trade with clear technical rules. Look for price to stay above the broken-resistance levels I noted, use the mid-range/previous resistance as the stop areas and let winning setups run toward the channel parallels or historical resistance targets. RSI behaviour — especially multiple rebounds above 50 — has been an excellent leading indicator for these plays.
Conclusion
Overall the tape is constructive across the indexes and many individual names are showing classic momentum/chart-breaker behaviour: unfilled gaps, channel breakouts, and RSI support. Keep an eye on the support thresholds I’ve listed — staying on the right side of those levels is the simplest way to keep the setups valid.
More updates over the weekend — stay tuned and trade carefully.
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.
