Zak Mir takes a charting look at S&P 500, Nasdaq 100, Co-Diagnostics, Dyne, Digi Power, Davis Commodities, GSI Technology, Semler, VisionWave, and Zenas.
The market continues to show momentum and a number of individual charts are breaking into new zones. Below I run through the S&P and Nasdaq context first, then the small- and mid-cap setups I am watching with targets, support levels and the technical clues pointing the way.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
S&P 500 — looking for 7,000
The S&P is attempting to gap up toward the top of its rising channel, and price action is now tracking for the 7,000 area — a resistance line that traces back to April. As long as we remain on the right side of the recent support zone near 6,807 (Friday resistance-turned-support), the case for 7,000 in the next week or two remains intact.
- Key resistance: 7,000
- Key support: 6,800–6,807
- Market bias: bullish while above the support zone and trading near the channel top
Nasdaq 100 — hitting the channel top
The Nasdaq has pushed up to the top of the rising channel formed since the end of March / start of April, testing the zone around 25,900. On an end-of-day close through that area we are eyeing a projection to the late-January resistance zone near 26,500 as a plausible target by the end of November.
RSI behaviour is important here. Rebounds from the 50 neutral zone have supported acceleration to the upside, which suggests momentum is still in control. Expect headlines like US-China tariff progress to amplify the moves.
- Recent channel top: 25,900
- Near-term target: 26,500 (end of November projection)
- Momentum read: RSI holding above 50 on rebounds, which fuels strength
Stocks to watch
Below are the charts I am watching with the technical levels and probable scenarios.
Co-Diagnostics, Inc. (CODX)
Nice confirmation of a rising-trend channel. The initial target around $1.00 has already been overshot. While price remains above that level we are looking for up to $1.80 by the end of next month, which is the upper parallel of the channel traced from February.
- Initial target: $1.00 (already cleared)
- Next target: $1.80 (end of next month)
- Condition: stay above the lower channel and prior pivots
Dyne Therapeutics, Inc. (DYN)
Dyne has pushed up toward the right-hand top of its rising channel, roughly in the $31.50 area. It also gapped back above an old gap top from January near $22.40 The top of the channel is the immediate upside reference. If price falls back below that old gap top the setup becomes more complex and warrants caution.
- Recent highs: $31.50
- Old gap top now support: $22.40
- Scenario: above the gap top targets the channel upper; below it the structure deteriorates
Digi Power X Inc. (DGXX)
Digi Power cleared its initial target at the top of the rising trend channel (around $5.00). Above that level I am looking toward the upper parallel of the channel and the May resistance projection near $7.50 by the end of next month. The ideal scenario is to stay on the right side of $5.00.
- Initial target cleared: $5.00
- Upside projection: $7.50 (end of next month)
- Key support: $5.00
Davis Commodities Limited (DTCK)
After a couple of false starts the chart is pushing for the top of its rising channel, potentially as high as $2.15. I would like to see the shares remain on the right side of recent broken resistance, approximately the $1.40 area (the average of recent peaks). Above that, $2 plus is the target into next month.
- Channel top target: $2.15
- Broken resistance turned support to hold: $1.40
- End-of-month target: above $2.00 if structure holds
GSI Technology, Inc. (GSIT)
GSI looks like it is in a midmove consolidation after a spike higher. The drawn channel points toward at least $20.00 while the shares remain above yesterday’s support zone near $10–11. The RSI profile, with multiple rebounds from the 50 level, suggests this has strength and could withstand a pullback of around a dollar at most.
- Consolidation target: $20.00
- Support to watch: $10–11
- Risk: expect a possible small dollar pullback; RSI remains constructive
Semler Scientific, Inc. (SMLR)
Semler is showing a bear-trap island reversal structure, having gapped down earlier in the month and then gapped back up. Price is now above the 50-day moving average at roughly $28.66. The 200-day moving average sits near $37.00, which is a reasonable end-of-next-month projection if the current momentum continues. Best case could get toward $45.00, but that is more aggressive.
- 50-day MA: ~$28.66
- 200-day MA target area: ~$37.00 (end of next month projection)
- Stretch target: $45.00 (optimistic)
VisionWave Holdings, Inc. (VWAVW)
VisionWave is holding the initial target around $1.80. On an end-of-day closed basis, a retest of recent resistance near $2.50 is the next logical step. If that breaks, there is potential for much more upside, possibly into the $4–$6 range over the next month or so, but the break above $2.50 is the prerequisite for that scenario.
- Initial target held: $1.80
- Next resistance to clear: $2.50
- Extended potential: $4.00–$6.00 if $2.50 is cleared convincingly
Zenas BioPharma, Inc. (ZBIO)
“While we’re above that $30 level looking for up to $50 by the end of next month.”
Zenas has broken the October resistance zone around the high $20s and is now trading above the $30.00 mark. The RSI has stayed above the neutral 50 level since early July, providing multiple support points and a constructive momentum backdrop. As long as price remains above $30, a run toward $50 by the end of next month is a reasonable projection.
- Broken resistance: $28–29
- Now above: $30.00
- Target: $50.00 (end of next month, momentum permitting)
- Momentum read: RSI consistently above 50 since July — a bullish sign
Final thoughts
Momentum remains the dominant theme across indices and several individual charts. Keep an eye on the S&P channel top and Nasdaq RSI behaviour for the broader market bias. For the individual stocks above, the common thread is confirmation above prior pivot levels and channel parallels. If those supports hold, the upside targets I outlined are reasonable; if they get breached, watch for structure to change and reassess the risk management levels.
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.
