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<\/p>\nZak Mir takes a charting look at some of the most closely followed small caps on the London Stock Exchange. Today\u2019s charts are FTSE 100, DAX, Dow, Bitcoin, Ethereum, Gold, Active Energy, Artemis, Audioboom, Avacta, Bezant, Coinsilium, Ceres, GSTechnologies, Image Biometrics, Microsalt, Oracle Power, Tiger, Wildcat, WeCap.<\/p>\n
I run through the charts and highlight the technical levels I\u2019m watching across indices, commodities, crypto and a selection of UK small caps. Below you\u2019ll find a succinct, tradeable summary of what I talked through on the show \u2014 the targets, the key support levels and the conditions that would keep the bullish case intact.<\/p>\n
As always, do your own research and treat these as chart-based observations rather than hard recommendations.<\/p>\n
Quick market summary<\/p>\n
Markets have kicked off October with a bit more life than many expected \u2014 despite the usual October nerves. On the major indices I\u2019m still looking for measured upside as long as the primary supports hold. Bitcoin and other cryptos have rebounded and are again back on the agenda for higher targets. Gold has done what we wanted and is testing the top of its rising channel. Below I walk through the individual charts and the precise levels I\u2019m watching.<\/p>\n
FTSE 100<\/p>\n
The FTSE has been moving higher within the rising trend channel that began in June. As long as we remain above recent support around 9,420 (initial October resistance turned support), the technical picture stays constructive. My minimum target for this move is 9,550 , with a best-case scenario projection up towards 9,750 by the end of the month.<\/p>\n
\u201c\u201dLong as we\u2019re above that, looking for 9,550 is a minimum. 9,750 is the best-case scenario by the end of this month.\u201d\u201d<\/p>\n
DAX<\/p>\n
September was quiet for the DAX, but October has warmed up. We gapped higher and managed to hold the gap late in the week \u2014 a bullish sign. Provided we stay above the 50\u2011day moving average (and roughly the 24,000 area), the top of the current channel is the level to watch as the near-term upside target.<\/p>\n
Dow Jones<\/p>\n
The shutdown headlines are dominating sentiment, but the Dow has accelerated higher rather than pulling back. Recent support around 46,000 leaves the index close to the top of the rising trend channel from May last year. My end\u2011of\u2011October target is in the region of 47,900 while price holds above the 46,000 area. The obvious downside pivot to watch is the 50\u2011day moving average (near 45,300 ), which acted as support back in August.<\/p>\n
Bitcoin and Crypto<\/p>\n
Cryptos are in celebration mode after a solid rebound. Bitcoin cleared troublesome resistance around the 118 area and also broke an RSI resistance line near 57 . That opens the path for a return to the top of the channel and a month\u2011end target near $32,000 . Shorter term the market has shown intraday strength and is back on the bullish agenda.<\/p>\n
Ethereum<\/p>\n
Ethereum continues to lag Bitcoin a little \u2014 disappointing relative performance given Bitcoin\u2019s move. The top of the channel sits near 5,300 , which is the level I\u2019m looking to see by the end of the month while Ethereum remains above its 50\u2011day moving average (around 4,391 ). We have just broken an RSI resistance line which could help fuel further upside.<\/p>\n
Gold<\/p>\n
Gold has done what I was hoping and hit the top of the rising trend channel from April ahead of schedule. Current resistance is around 3,860 and the next target is up to about 4,160 \u2014 a level I\u2019m pencilling in by the end of next month, provided we stay above October support around 3,800 .<\/p>\n
Stocks I\u2019m watching<\/p>\n
Below are the individual shares I covered, with the technical triggers, targets and the levels that would invalidate the bullish view.<\/p>\n
Active Energy<\/p>\n
The chart looks like it\u2019s starting to recover, supported by decent company news. RSI has pushed back above 50 for the first time since early July. A close above the bottom of last month\u2019s gap (around 0.11p) would open the path towards the 200\u2011day line around 0.22p and then the top of the falling channel 0.32p. Near\u2011term upside is visible over the next few weeks into the end of the month.<\/p>\n
Artemis<\/p>\n
We saw an end\u2011of\u2011day close through 0.40p, and RSI has been rebounding above 50. With the 50\u2011day line rising and the shares above the 200\u2011day line, the technical target is around 0.60p by the end of this month.<\/p>\n
Audioboom<\/p>\n
A very decent week \u2014 and a very strong Friday \u2014 on renewed bid and M&A chatter. The red resistance line near 765p is the immediate target for the end of the month. If the bid story continues to develop, a best\u2011case scenario could extend towards the \u00a311\u2013\u00a312 zone. On the downside, don\u2019t want to see the shares slip back below the pre\u2011breakout area around 560p .<\/p>\n
Avacta Group<\/p>\n
Chart obeyed the rules during the week and the only thing left is to test the top of the rising trend channel from May (near 75p ), which I hope we see early this week. Upside remains while price stays above last month\u2019s broken resistance at about 64p on an end\u2011of\u2011day close.<\/p>\n
Bezant<\/p>\n
Bezant has performed strongly and has hit my red target line at roughly 0.07. From here the next leg up I\u2019m eyeing is near 0.12 , with the bullish case intact while we hold above the 0.007 area.<\/p>\n
Coinsilium<\/p>\n
Helped by the recent Bitcoin strength, Coinsilium was up around 10% on Friday and is back above RSI 50 and nudging the 50\u2011day moving average. Short\u2011term upside targets sit around 6.5\u20137p (near the 200\u2011day MA), which would be a good outcome from current levels below 5p.<\/p>\n
Ceres Power<\/p>\n
I don\u2019t normally highlight this but the chart looked too good to ignore: first target around 176p has been hit; above that I\u2019m looking at the upper parallel of the rising trend channel from February toward 257p by the end of next month if momentum holds.<\/p>\n
GSTechnologies<\/p>\n
GS Tech is nudging the 50\u2011day after a few weeks and has moved above RSI 50. While we stay above the 50\u2011day line, the top of the falling channel near about 1.14p could be achievable by the end of next month. Wait for a clean end\u2011of\u2011day close above the 50\u2011day to be more confident.<\/p>\n
Imaging Biometrics<\/p>\n
We\u2019ve already hit the first target at around 1.22p . Above that, the next leg up is visible toward 1.8p , with the 2025 resistance zone in that area and the 200\u2011day moving average offering support near 0.97p .<\/p>\n
Microsalt\u00a0<\/p>\n
There was a strong update and a gap through the 200\u2011day line after a week of robust candles. While above the 200\u2011day line (around 65p ), the chart suggests we could see a move toward \u00a31 by the end of next month \u2014 a significant resistance level on the yearly chart.<\/p>\n
Oracle Power<\/p>\n
The shares have enjoyed a mini party in recent weeks thanks to project news. Clearance of the 0.06 area would open the door for a retest of 0.9p by month\u2011end. Ideally I want to see price stay above about 0.05 to retain the bullish case.<\/p>\n
Tiger Alpha<\/p>\n
After the big rally the dust has settled. There has been a small trend\u2011line breakout through around 0.9p . Above that, the chart offers a best\u2011case scenario toward roughly 1.3\u20131.44p by the end of this month if bullish momentum from cryptos trickles through.<\/p>\n
Wildcat Petroleum<\/p>\n
There was a dip below the 100\u2011day line mid\u2011week, but the bounce on Friday and the break of the 200\u2011day line near 0.09 suggests a retest of the top of the triangle and one\u2011year resistance around 0.24 by the end of the month. Note the bullish RSI divergence forming through September.<\/p>\n
WeCap\u00a0<\/p>\n
WeCap has recovered steadily since June. New support has formed above old resistance \u2014 a classic bullish sign. I\u2019m watching for an imminent break of recent resistance near 2.75p . If that clears, the next level up could be around 4p within the month. RSI being comfortably above 50 since July is another positive lead indicator.<\/p>\n
Final thoughts<\/p>\n
Overall the charts favour more upside across a number of markets so long as the key supports I\u2019ve mentioned remain intact. The crypto bounce has injected risk appetite, and several small\u2011caps are showing clear technical set\u2011ups that could yield further gains if momentum continues. As always, watch the support levels \u2014 they define the bullish thesis. I\u2019ll be back with more updates tomorrow.<\/p>\n
Disclaimer & Declaration of Interest:<\/p>\n
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.<\/p>\n
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