Traders Cafe with Zak Mir: Bulletin Board Heroes, Weekend Edition, Sunday 26th April 2026

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, WTI Crude Oil, Ajax, Ceres Power, Delta Gold, EnSilica, Fiinu, Filtronic, Genflow, Hydrogen Utopia, ITM Power, Neo, Orosur, Predator, Seraphim, Ten Lifestyle.

The final week of April left little room for complacency. Across the major indices, commodities and crypto, the picture is still finely balanced, but the tone has clearly shifted in places. Some markets are clinging to support, some are trying to break higher, and a few speculative stocks are setting up rather nicely if the charts continue to behave.

As always, do your own research and treat these as chart-based observations rather than hard recommendations.

FTSE 100: leaning on channel support

The FTSE 100 is nestling right on the floor of a rising trend channel that has been in place since October. The nominal support area comes in around 10,380.

If that gives way, the next logical destination is the January and early March support zone, just under 10,100, with 10,080 the favoured downside target.

To improve the picture, the market really needs an end of day close back above the 50-day moving average at 10,430. If that happens, the door opens to a recovery towards 10,680, which is effectively the April resistance area.

For now, though, the tone is not especially encouraging. The weekly close was poor, the week itself was poor, and higher oil prices above $90 are hardly helping sentiment. The RSI is around 47, which keeps the bias tilted to the downside while the index remains below the 50-day line.

DAX: hold the 50-day line or fill the gap

With the DAX, the whole game is about staying above the 50-day moving average, which currently sits around 23,900.

As long as that level holds, there is still a chance of a retest of April resistance at 24,800 over the next week or two.

If the index slips below the 50-day line, the immediate risk is that it drops to fill the gap lower, with 23,700 the obvious magnet.

So this is one of those simple but important setups:

• Above 23,900: potential move back to 24,800
• Below 23,900: increased risk of 23,700

Dow Jones: surprisingly resilient

The Dow continues to look unexpectedly firm given the geopolitical backdrop. During the week it pushed towards the 50,000 mark and remains within striking distance.

The key support zone is around 47,800, where the 50-day moving average and the old broken resistance line converge. While the index holds above that area, the broader upside case stays alive.

The bullish triangle projection from November still points as high as 52,000. That said, it does feel a touch optimistic in the current environment, so this is one to treat with some caution even if the chart is still constructive.

Bitcoin and Ethereum:

Bitcoin has recovered more strongly than many would have expected, especially given the failed setups seen back in January and October. The bears will be hoping for another false dawn, but so far the market is holding up well.

Even some of the Bitcoin treasury-related stocks are pushing higher, which is helping sentiment around the space.

The immediate challenge is the 80,000 area. A clean move through that level would improve the outlook materially and bring the 200-day moving average at 85,000 into play.

If Bitcoin cannot clear 80,000, then there is still room for a retest of support in the old February-March resistance zone around 73,000 to 74,000. The current worst-case support level looks to be the 50-day moving average at 71,500.

The takeaway is straightforward: the recovery has been surprisingly strong, but it still needs confirmation.

Ethereum: arguably even stronger than Bitcoin

Ethereum is looking even more robust. Price has been bouncing against the top of a falling trend channel, and the upside target from the recovery channel points towards 2,490.

There is support around 2,180, and it would not be a surprise to see that tested once more before any further advance. The RSI has its own uptrend line in place, and the market is responding positively to that as well.

Like Bitcoin, this rally has had a counterintuitive strength to it. It has been a relief rally, yes, but not a feeble one.

Gold: the glass is now half empty

Gold has been frustrating for days, mainly because it has failed to reclaim the key technical levels needed to turn the chart positive again.

The market needs to get back above:

• The top of the falling trend channel at around 4,830
• The 50-day moving average at roughly 4,870

Support had been expected around 4,600, and that still looks like the most relevant downside area. With the RSI now below neutral 50, the bias has deteriorated.

At this stage, 4,600 looks more likely than a return to 4,800 plus. That is not the most cheerful interpretation, but it is the honest one.

WTI crude oil

Crude oil had already broken out during the week through the $91 level, and that move matters. Above $91, the market reopens the possibility of a return to $105, which was recent resistance.

Even if geopolitical tensions ease and the backdrop becomes more peaceful, the current expectation is still that price action will stay supported above the 50-day moving average and the floor of the rising trend channel from January, both clustered around $87.

So, for now:

• Above $91: risk of a push back to $105
• Near $87: major support zone

Stock charts to watch

Ajax: bull flag setup: Ajax has kept the news flow going, and the chart is shaping up in what looks like a little bull flag consolidation. Both the 50-day and 200-day moving averages are rising. A break above recent resistance at 9p would suggest a move as high as 11.75p by the end of next month.

Ceres Power: strong trend, next stop 600p?: This is one of the renewable energy names that has been behaving well technically. Ceres Power has already met its target around 460p. Above that, the next objective is the upper parallel of the rising trend channel from October, which points to around 600p by the end of next month. It is simply a neat chart with a good flow to it.

Delta Gold: momentum remains very strong: Delta Gold has attracted plenty of excitement, and the chart gives that enthusiasm some justification. There was a very strong hammer candle on Thursday followed by an excellent candle on Friday, opening on the low and closing on the high. Technically, that is exactly the sort of action bulls want to see. The initial target at 128p, the upper parallel of the rising trend channel, has already been hit in recent sessions. Above 128p, the chart suggests a fresh leg higher towards 169p by the end of next month.

EnSilica: needs a close above 69p: EnSilica has been hovering around the old target at 69p, with a bit of chart noise around that level. The important point is that an end of day close above 69p would trigger a fresh upside leg towards 94p next month. Ideally, the shares remain above 60p, which is the level that helps keep the bullish scenario on track.

Fiinu: perhaps its turn now: Fiinu has been quiet for a while, but the chart may be starting to wake up. There is a broadening triangle in play, and the shares have already reached the top of the falling trend channel at around 8p. Above that, the next target becomes 11p by the end of next month. Ideally, price now holds above the 50-day moving average at 7.2p.

Filtronic: acceleration phase: Filtronic has not featured for some time, but the recent action has changed that. Over the last few sessions the shares have shown a clear acceleration to the upside. The market may first aim for 230p, then 250p. If it gets through 250p, the chart opens up considerably, with scope for as high as 340p by the end of next month, or possibly even sooner if the current momentum continues. On present form, that move may arrive faster than expected.

Genflow: gap through resistance is encouraging: Genflow sits in an interesting chart position. The story may be driven by a mix of grants and hopes around its science, but the chart itself is what matters here. There is an unfilled gap to the upside through the recent February highs around 2.4p. Above that, the target is 3.5p by the end of next month. A move back below the old resistance at 2.4p would delay that upside scenario.

Hydrogen Utopia: holding above key support: Hydrogen Utopia is an interesting one. Given the constant headlines around cancelled flights and shortages in sustainable aviation fuel, some might have expected a much stronger share price response by now. Even so, the chart still has merit. The shares are bouncing above the 50-day moving average and above the old target line at 2.8p. Above current levels, the target is 4.88p by the end of next month. The RSI 50 rebound is constructive, and both the 50-day and 200-day moving averages are rising well.

ITM Power: flag breakout in place: Another renewable name worth highlighting is ITM Power. The shares have broken out of the flag pattern that had been forming around 146p. That breakout points to a target of 196p by the end of next month. If reached, that would represent a very respectable charting move. The key condition is that the shares hold above the broken resistance at 146p.

Mkango Resources breakout potential building: One of the featured stocks has a chart showing the shares in a falling trend channel but still above both the 50-day and 200-day moving averages at 46p. From here, the immediate target is 56p in the coming days. Beyond that, if the shares can follow the trajectory implied by the resistance line, the best-case target by the end of next month is up towards 80p. That would be the more ambitious outcome, but the setup is constructive while the stock remains above the major moving averages.

Neo: charting call still looks excellent: Neo has been one of the better-looking technical situations. The earlier call came when the shares were in the 0.5p region. From there, the next target was above 0.7p, and after that came the move towards 0.95p. Now, above 0.95p, the chart points to the top of the triangle at around 1.3p by the end of next month. Both the 50-day and 200-day moving averages are rising in parallel, and the setup continues to look very strong, especially while the shares hold above 0.95p.

Orosur: support around 18p is the key: Orosur has not yet managed to push through the mid-20s, which leaves a whiff of bull trap about the recent action. That hesitation may reflect concerns over a possible placing. Even so, the chart is still holding above the floor of the rising trend channel at 18p, and that is the key point for now. If decent drilling results arrive, the shares could revisit the upper 20s. But until then, 18p remains the support level to watch.

Predator: recent breakout and a possible golden cross: Predator has pushed through recent resistance at 3.6p, and that leaves the top of the trading range at 5.5p as the next obvious target. As ever with smaller stocks, fund raises can get in the way, and that caveat still applies. Still, there is another positive technical detail here: the 50-day and 200-day moving averages are both rising and appear to be heading into a golden cross. That phase often marks one of the strongest parts of the cycle.

Seraphim: space remains a hot theme: Seraphim is another chart that has already hit an initial target, in this case around 223p. Above that level, the shares are set up for a fresh leg higher towards 290p plus by the end of next month, particularly while they remain above 200p. With the broader space theme remaining lively, the chart has room to keep working.

Ten Lifestyle: gap through resistance still holding: Ten Lifestyle Group is one that has already enjoyed a big rise, so part of the move may have been missed. Even so, the chart still looks interesting because the shares gapped through resistance and have managed to hold above that gap. As long as price remains above 80p, the chart points to 101p by the end of next month.

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.