In this edition of USA Chartbreakers, I run through the S&P 500 and Nasdaq 100 picture and then step through the individual charts I’m watching: Blaize, Critical Metals, Datavault, Ethzilla, Femasys, Ioneer, Leap Therapeutics, Eightco, Odyssey and Sol-Gel.
Below are the technical levels, targets and the reasoning behind them — the same direct, chart-first approach I use on the channel.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Market overview
The broad market remains constructive but that’s a double-edged sword — when things “couldn’t look any better” they can also deteriorate quickly if momentum fades or if a macro shock appears (I’m mindful of the US shutdown risk). Overall, the technical tone is bullish with some clear support/resistance bands to watch.
S&P 500
- Current read: Bullish and sitting above September’s former resistance around 6,700, which is now acting as support.
- Upside target: A fairly direct move toward the top of the channel near 6,900 — my timeframe is by the end of next month, with the possibility of getting there by month-end if momentum holds.
- Downside risk: A “rugpull” would likely test September support around 6,550 (tested twice in the latter half of September).
Nasdaq 100
- Current read: Trying to edge through the 25,000 area inside a rising trend channel that began in April.
- Near-term target: Top of that channel near 25,600 by the end of this month.
- Extended level: A trendline from the end of January points toward ~26,400; practically, above 24,000 I’m looking for a push into the mid‑26,000s.
- Momentum signal: RSI has rebounded above the neutral 50 level — a constructive sign and helps the bullish case; the channel floor is just below 24,000 so that’s a key structural support.
Stock-by-stock chart notes
Below are the charts I discussed, the setups I like and the levels I’m watching. Targets are my technical projections given the current channels, moving averages and RSI behaviour.
Blaize Holdings, Inc. (BZAI)
- Setup: Finding support at the base of a rising trend channel.
- Key moving average: 200‑day moving average sits around $4.29 — staying above it keeps the bullish case intact.
- Target: Channel top heading for roughly $8 by the end of this month.
- Notes: RSI has rebounded from just below 50 and the stock gapped up through previous resistance and the 200‑day line; the 50‑day moving average is also rising.
Critical Metals Corp. (CRML)
- Setup: Hit the top of the channel at about $14 (our target).
- Extended target: If it clears $14 I’m looking for a fresh leg up toward the $20 area (targeted by the end of next month, possibly sooner).
- Support: Ideally holds above the recently broken resistance around $10.
- Momentum: RSI has been rebounding above 50 since late June — that’s supportive for further gains.
Datavault AI Inc. (DVLT)
- Progress: We hit the first target around $1.30 and came very close to the second target of $2.20.
- Resistance: Main resistance in recent past sits near $2.70; that’s a potential upside limit in the near term.
- Timeframe: $2.20–$2.70 is a plausible end‑of‑month / end‑of‑October area while the shares remain above the prior spike (the older February level).
ETHZilla Corporation (ETHZW)
- Setup: One of my favoured setups — finding support above a rising moving average (the 200‑day here).
- Key level: 200‑day moving average sits just above $0.04; holding that line (around $0.05) is the technical imperative.
- Target: The upper range and former support near $0.15 by the end of this month if momentum continues.
- Note: RSI is around 43 — cautious traders may wait for an RSI move back above the neutral 50 before committing more.
Femasys Inc. (FEMY)
- Setup: Recently covered and it has performed as expected — hit the rising trend channel base target at roughly $0.92.
- Key hurdles: The 200‑day moving average is around $1.00 — that’s the next logical resistance zone.
- Near-term target: A revisit of the $0.92 area (and then testing ~$1.00) is possible during the rest of this month, provided the shares stay above yesterday’s low on an end‑of‑day close (in the $0.70s).
ioneer Ltd (IONR)
- Progress: We hit the earlier target (around $7.50). The shares pulled back to the mid‑$6s (around $6.50).
- Support: Staying on the “right side” of $6 (the prior November/December resistance) is critical to holding the bullish case.
- Targets: A retest of the $8 area and potentially one‑year resistance into the $9+ zone by the end of this month, if support holds.
Leap Therapeutics, Inc. (LPTX)
- Progress: Nailed both the first target ($0.55) and the second target ($0.90) — full marks to the setup.
- Remaining question: Does the stock have enough momentum to fill the gap up toward the $2 area? That’s a stretch but conceivable by the end of next month if strength continues.
- Support: The 200‑day line sits around $0.70 — maintaining above that helps the odds; a more likely near‑term move is a test of the $0.55–$0.56 zone before a sustained push higher.
Eightco Holdings Inc. (ORBS)
- Setup: Finding support above a rising moving average — in this case the 50‑day line (around $7.22).
- Target: Recent resistance near $16 is the upside objective by the end of next month if the pattern holds.
Odyssey Marine Exploration, Inc. (OMEX)
- Setup: A rising trend channel base that’s been better drawn as a channel; the shares cleared old resistance around $2.30.
- Target: Top of the trend channel near $3.60 by the end of next month, assuming the current rise and RSI strength persist.
- Momentum: RSI has bounced above neutral 50 since mid‑September — that supports the bullish projection.
Sol-Gel Technologies Ltd. (SLGL)
- Performance: The stock exceeded my earlier target ($43).
- New target: The upper parallel of a rising trend channel in place since last December now points toward roughly $70.
- Condition: A proper end‑of‑day close above the previous target ($43) would reinforce the move toward the channel upper parallel.
- Context: The recent rising consolidation after the unfilled gap to the upside looks constructive.
What I’m watching next
- Market structure: S&P staying above 6,700 and Nasdaq above 24,000 are critical for the broader bullish case.
- Momentum confirmation: RSI readings north of 50 have been helpful across many names — I’ll be watching whether these hold or roll over.
- Key levels: The moving averages (50, 200‑day) and the trend channel boundaries I’ve outlined above — breaks or sustained holds will drive my updates.
That’s it for today — concise, chart‑driven and focused on the levels that matter. I’ll be back with more updates tomorrow as the charts evolve.
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.
