Zak Mir takes a charting look at S&P 500, Nasdaq 100, Adaptimmune, Electra Battery, Harrison Global, Nuburu, Nexalin, 374Water, Soluna, and Universe Pharma.
I walk through the S&P 500, Nasdaq 100 and a selection of US small-cap charts I’m watching closely. Below I summarise the technical setups, key levels and targets I talked about so you can follow the bias and risk levels for each idea.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Market overview
S&P 500
The S&P is still hanging near its highs and trying to push into fresh highs — yesterday’s high was 6,755 and we remain very close to that level. Momentum is healthy: RSI bounced above 50 into the mid‑60s, which supports the bullish case.
On the upside I have the top of the long April channel as a target around 6,900. At the current rate of progress that looks achievable by the end of next month (and possibly sooner if price accelerates). Key support to keep the bullish thesis intact sits around 6,640. Deeper downside “rug pull” levels to watch are roughly 6,550 and the 50‑day moving average near 6,518.
Nasdaq 100
Nasdaq has been strengthening again after a few red candles and a short period of bearish divergence. Price snapped higher inside the rising trend channel that started in April.
Near‑term resistance (the channel top) is around 25,500. My projection for the best‑case scenario is the red resistance projection line up to about 26,400 by the end of next month, with a more conservative target perhaps near 25,500 by month‑end. To keep this bullish view valid we need to stay above roughly 24,500; a failure would open the floor of the channel and the 50‑day line near 23,900.
Stocks I’m watching
Below are the setups I covered — each one includes the current situation, the technical triggers I’m watching, and target levels and stops where relevant.
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Adaptimmune Therapeutics plc (ADAP)
We cleared our initial target at the top of the falling trend channel (around $0.23). Above that, the upper parallel of that falling channel is a target up near $0.37 by the end of next month. The important short‑term guide is staying above the recent broken resistance at roughly $0.16–$0.17. Supporting the bull case: the 50‑day line is rising and we’ve seen three RSI 50+ rebounds in the past month — a strong configuration that explains yesterday’s gap and why the shares could extend toward the $0.40 area within a month.
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Electra Battery Materials Corporation (ELBM)
This one hit its first target just under $2 (about $1.95). If price holds above $1.95 the next upside target is the top of the broadening triangle — roughly $2.87 — which I view as a month‑end best‑case scenario. Key threshold: remain on the right side of $2 while the pattern plays out.
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Harrison Global Holdings Inc. (BLMZ)
Harrison has a clear rising trend channel base and recently pushed through the 200‑day moving average at about $0.25. If it sustains above the 200‑day, the top of the channel is in the region of $0.50 by the end of next month. Technically we’ve also seen multiple RSI 50 rebounds (three RSI 50+ bounces), which increases the chance this break holds rather than failing at the 200‑day.
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Harrison Global Holdings Inc. (BLMZ)
We covered this earlier in the week and it’s had a nice run — our target at $0.67 was reached. Above that, a best‑case upside target sits near $1.01–$1.10 by month‑end. Short‑term support is the recent broken resistance at about $0.53.
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Nexalin Technology, Inc. (NXL)
This chart exceeded expectations: it broke the top of the falling trend channel (around $1.17–$1.18) and also cleared the 200‑day moving average near $1.70. While price stays above that 200‑day line the next target is the top of the triangle, up to around $2.45 by the end of the month as a best‑case scenario.
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374Water Inc. (SCWO)
374Water ripped through the 200‑day and gapped higher, clearing recent resistance near $0.58. The upside target I’m watching is the top of the rising trend channel base at about $1.10 by the end of next month.Soluna Soluna looks like a mid‑move consolidation — a bull flag resting above prior resistance around $1.80. If it resolves higher I’m looking toward roughly $5.00 by the end of next month. For now the setup remains valid as long as we stay on the right side of $2.00.
- Soluna Holdings, Inc. (SLNH)
- Soluna Soluna looks like a mid‑move consolidation — a bull flag resting above prior resistance around $1.80. If it resolves higher I’m looking toward roughly $5.00 by the end of next month. For now the setup remains valid as long as we stay on the right side of $2.00.
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Universe Pharmaceuticals INC (UPC)
Universe Pharmaceuticals This is a larger chart with a wide rising trend channel. A plausible upside projection is toward the $15.80 level while staying above the 200‑day moving average (around $7.04). It’s a big chart and would need sustained strength to reach the upper channel — but that’s the scenario I’m monitoring.
Conclusion — what I’m watching next
Overall the market tone is constructive: S&P and Nasdaq remain near highs with momentum supporting further gains, and several individual charts have broken key resistance or moving averages. For each stock I outlined the target range and the short‑term level that would invalidate the bullish case — keeping those levels in mind is essential for risk management.
I’ll post another update tomorrow with any new developments. If you’re following any of these setups, keep an eye on the key support thresholds and the 50/200‑day moving averages I mentioned — they’re doing the heavy lifting for trend confirmation right now.
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.
