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, Audioboom, Amigo, Ascent, African Pioneer, CML, Ferro-Alloy, Guardian Metal, Gelion, Great Southern, Imaging Biometrics, Mkango, Pulsar, Sorted, Tertiary Minerals.
In my latest Weekend Bulletin Board Heroes update, I take a chart-led tour of the markets — equities, cryptos, gold and a raft of small-cap UK stocks. I’m Zak Mir, and this edition was recorded on Sunday, 12 October, right in the middle of what I keep calling “crash season”. Below, I walk you through the key levels I’m watching and the trade ideas that stand out on the charts.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Market snapshot — crash season in full effect
October has lived up to its reputation. Wall Street reacted strongly to the tariff headlines and we saw aggressive selling across indices. Technically, many indices were already testing the tops of long rising channels from the summer, so the pullback feels like a combination of political shock and ordinary channel mean reversion.
FTSE (index)
We came off the top of the rising trend channel from June. The record high sits near 9,577 . On the downside I’m watching the following support ladder:
Best-case daily support: 9,420
Realistic support zone: 9,350 (my main target for early week)
Worst-case (floor of the channel): 9,250
Given recent tariff-driven moves, the 9,350–9,250 zone is the area to respect for now.
DAX
The DAX pulled back from record highs and is testing its moving averages. The rising 50-day line is a key support just under 24,000 (around 23,000 on this charting read). Worst-case channel support is close to 23,500 , which is the April channel floor. I’m not expecting anything far worse unless global risk sentiment collapses further.
Dow
Friday’s session hit hard. The index fell back to the 50-day moving average — a level I had already flagged as a potential buying zone around 45,400–45,500 . The ominous sign is the RSI, which has tumbled and suggests there could be more downside. Immediate levels to watch:
Old July resistance at 45,000 — hope this becomes support.
To undo Friday’s damage the Dow needs to reclaim 46,000 .
Cryptocurrencies
Bitcoin
Bitcoin’s headlines have been dramatic — talk of “death” and bankruptcies — but chart-wise we held the lower edge of the rising channel around 110k after a fall from ~125k. On an end-of-day close basis, as long as Bitcoin stays above 110,000 the view is that it can form support here. The next downside reference is the 200-day moving average near 106,000 . I’m not looking for anything worse unless that 200-day breaks.
Ethereum
Ethereum disappointed more than Bitcoin. It failed to make traction above 4,700 , and the 50-day line at about 4,359 has given way. The price has fallen below the floor of the rising channel, which opens the risk of a deeper pullback toward the August support near 3,350 . While ETH remains below the broken floor and the 4,000 area, downside risk persists.
Gold
Gold was the day’s relative winner — not exploding higher, but finding support at the top of the old rising trend channel around 3,900 . I was targeting 4,160 by the end of next month; if price momentum is kind we could see that level by the end of this month.
Stock watch
Below are the smaller-cap names I covered with the technical levels and targets I’m watching. These are chart-driven notes — keep position sizing tight and respect stops.
Audioboom
Company reportedly up for sale and interim results due midweek (15th). Price action is positive: holding above old February resistance around 660p. Immediate upside target on the chart is around 765p, with an optimistic stretch toward £12 if fundamentals surprise positively. Key: stay above 660 to keep the bullish case intact.
Amigo
Always a nervy chart to look at, but technically we’ve had a rebound above the rising 50-day moving average and an RSI recovery to the 50 level. As long as the share price remains above the 200-day moving average (0.33), a push up toward the top of the broadening triangle (and an RSI toward 0.75p) is on the cards.
Ascent Resources
Remains bouncy after the move into the 60s. Support is holding above a rising 50-day and the RSI 50 level. Friday closed with a gap-close buy signal above the gap top at 0.47p. Upside: retest of 0.62 and a stretch back toward the prior highs near 0.80 by the end of next month if momentum continues.
African Pioneer
Mini-resources sector strength has helped here. RSI has rebounded above neutral, the 50-day is rising and a small bull flag is forming. Short-term target: around 1.88p if it stays above recent resistance at 1.1p .
CML MicroSystems
Nice end to the week — the summer rising channel is intact. Both 50 and 200-day lines are rising and recent support came in above the 50-day. I’m looking at a move toward about £4.40 as a target into the end of next month, with support to protect below the rising 50-day (near 280 on this read).
Ferro-Alloy Resources
Surprised it didn’t gap higher after positive interim results and a feasibility update. The chart is still constructive — heading for the top of the rising trend channel near 16–15p , and above that a run toward 24p by the end of next month is feasible while the stock stays above old December resistance around 12p .
Guardian Metal
This one has been relentlessly strong — think of it as a machine. Support was found at the top of the old channel (106p) and previous buyers (notably institutional interest) have doubled up. Chart target: about 140p as soon as the end of this month, with the trend still very positive.
Gelion
Rising trend channel with a top nearer 34p . The 50-day sits around 21p . A double RSI rebound above neutral gives me confidence the shares can reach the channel top by the end of this month while staying above the 50-day.
Great Southern
Another chartist favourite — rebound above a rising 50-day, RSI back above 50 and a solid close above the rising 200-day. Triple-technical confirmation. Target: the top of the range near 4.75–5p by the end of next month while above the 200-day (around 2.8p ).
Imaging Biometrics
V-shaped bull flag breakout with a retest of the first target near 1.25p . Next upside target is 1.88p , especially if the shares stay above the 200-day (0.98p).
Mkango
Part of the same resource momentum. In the Guardian Metal stable, looking for a run toward 70p by the end of the month while above October’s initial resistance at 53p . Gaps to the upside and old resistance turning into support look constructive.
Pulsar Helium
Very pleasing to see this call develop. I noted earlier the shares should have reacted more to their big news — they’ve now held above 28p , produced a V-shaped bull flag breakout and cleared the prior target at 36p . The next resistance projection from last year points toward 50p (possible by the end of this month). Watch the potential golden cross (50/200 day lines) and the bear-trap/island reversal pattern — very bullish signals.
Sorted Group
A name I haven’t discussed much before — it has broken through the 200-day line at about 28p . Best-case technical target stretches toward 70p while the stock remains above 28.5p on an end-of-day close. Liquidity could be a concern, so size accordingly.
Tertiary Minerals
Clearly benefiting from the resource rally — it has already hit the previous target near 0.06 . Next targets: 0.09 and a stretch to 0.10 by the end of this month while the stock stays on the right side of 0.06. Simple: momentum is with the bulls for now.
Wrapping up
We’re in an environment where macro headlines can trigger rapid moves — and October is doing what October does. On the indices I’m watching the 50-day moving averages and key channel floors; on cryptos Bitcoin’s 110k and Ethereum’s broken channel floor are the important references. For small caps, the recurring theme is rising 50-day lines, RSI rebounds above 50 and old resistance turning into new support.
As ever, trade carefully: respect stops, size positions for volatility and keep an eye on the moving averages I’ve mentioned. I’ll be back with more updates tomorrow.
““It is crash season — keep your charts close and your stops closer.””
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.
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