Author name: Persic Sinisa

Free Watch List for Jan 6th 2025

RL is displaying an ascending triangle formation, signaling potential strength as it approaches a critical resistance level. A breakout beyond the upper trendline could trigger a continuation of its upward trajectory. Watching volume for confirmation and tracking the stock’s alignment with key moving averages will be essential to validate the move.
FTNT is exhibiting a rising wedge pattern, consolidating beneath a key resistance level. A breakout above the upper boundary of the consolidation range could indicate further upside momentum. Observing volume activity during the breakout and tracking the stock’s alignment with its moving averages will help confirm the strength of the move.

DRI is currently forming a narrowing ascending triangle, as highlighted in the chart. This pattern indicates a potential bullish breakout if the price moves beyond the upper resistance zone. A surge in volume during the breakout would provide strong confirmation of continued upward momentum. 

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Critical Retest of Support at 5860: Will the S&P 500 Hold or Break?

The S&P 500 recently retested the critical support level at 5860 and managed a bounce, forming a new lower high. However, the price is now once again testing this significant support level at 5860. If this level fails to hold, it is likely to trigger a new wave of selling pressure, with the next target lying in the 5650-5700 area. A breakdown below 5860 would confirm increased bearish momentum in the short term.

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