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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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S&P 500: Bearish Channel Breakdown Signals Trend Change

The S&P 500 has decisively broken below its rising channel, signaling a short-term trend change from bullish to bearish. The breakdown below the key support at 5860, coupled with strong selling pressure, indicates the likelihood of a continuation of the correction. The next key target lies in the 5650-5700 area, a significant support zone marked by prior consolidation and the lower Bollinger Band.

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Free Watch List for Dec 9th 2024

TRN is consolidating within a tightening range, forming a potential ascending triangle pattern. The stock is holding above key moving averages, signaling underlying strength. A breakout above the current resistance zone could trigger further upside momentum. Watching for increasing volume on the breakout will be essential to validate the move.
KMX is nearing a significant resistance level, as indicated in the chart with a recent breakout from a consolidation zone. The steady upward momentum, combined with support from the moving averages, suggests potential for continued strength. Observing volume trends and price action near the resistance level will be essential to confirm the breakout’s sustainability.
HD is consolidating within a horizontal range after a strong upward trend, indicating a potential continuation pattern. The formation suggests that a breakout above the current resistance level could signal renewed bullish momentum. Volume analysis and the stock’s position relative to its moving averages will be important to confirm the strength of any upward move.
EXLS is testing a critical resistance level after maintaining an ascending trendline support. The price action suggests a tightening pattern, potentially forming an ascending triangle. A breakout above the resistance could confirm further bullish continuation, particularly if supported by increasing volume. Keeping an eye on price reactions near the trendline and resistance will be essential for gauging the stock’s next move.
CTSH is consolidating near a key resistance area, forming a horizontal range with tightening price action. A breakout above this consolidation zone could indicate further bullish momentum, particularly if accompanied by increased volume. Observing the stock’s reaction around its moving averages and tracking volatility indicators will be critical in validating the breakout scenario.

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