Zak Mir takes a charting look at S&P 500, Nasdaq 100, Butterfly, Cullinan, CalciMedica, Caravelle, Digi Power, Foxx, Inspire, Ondas, and WeShop.
Markets are showing constructive behaviour within longer-term rising channels, and a number of individual names have triggered actionable setups. The broad picture is bullish so long as key moving averages and support zones hold. Below is a concise technical run-through of the S&P 500 and Nasdaq 100, followed by actionable setups on selected stocks to watch over the next several weeks.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Market-wide outlook
S&P 500
The S&P has effectively bounced from the lower edge of a rising trend channel that stretches back to April. The last low printed around 6520, and the index is sitting very close to a rising 50-day moving average just above the 6710 area.
- Near-term bullish trigger: end-of-day close above 6710. That would lift the tone and bring the RSI back above 50.
- Upside target: a move back toward the top of the rising channel, currently implying a best-case target near 7050 (a likelihood for late December or into January).
- Downside risk: a test of the 6360 area would be a reasonable pullback level if the upside fails to materialise.
Nasdaq 100
The Nasdaq remains in a rising trend channel but has been slightly pressured by headline-driven sentiment around AI. It is hovering near a rising 50-day line close to the 25,000 level.
- Key level: end-of-day close above 25,000 to maintain upside momentum.
- Upside target: re-testing the top of the channel toward 27,000 over the coming month.
- Support to hold: remain on the right side of 24,000 for the bullish case to remain intact.
Stocks to watch: setups, levels and targets
Below are succinct trade setups on individual names with the key levels to monitor and what would confirm or invalidate the bullish thesis.
Butterfly Network, Inc. (BFLY)
- Setup: has reached and cleared the top of the initial channel formed since June (near $3.30 in this read).
- Trigger: end-of-day close above that channel high.
- Target: a fresh leg to the upside toward about $4.40 by the end of next month.
- Risk / invalidation: price falling back below the recent support zone around the $3 area would delay the upside scenario.
Cullinan Therapeutics, Inc. (CGEM)
- Setup: meaningful breakout through prior resistance near $13.
- Target: an initial upside target near $17 possibly as soon as the end of next month.
- Watch: a pullback below the mid-range of recent trading (around $11.50) would slow or delay the bullish case.
CalciMedica, Inc. (CALC)
- Setup: breakout above the $3.70 area.
- Target: aim for the top of the rising trend channel from February, near $5.70 by the end of next month.
- Context: a punchy chart with constructive consolidation since late summer.
High-Trend International Group (HTCO)
- Setup: recent move has exceeded the top of the rising trend channel (around $14.80).
- Target: upper parallel of the channel is projecting toward roughly $23 by the end of next month.
- Support: staying above the recently broken resistance near $11.20 is important for follow-through.
Digi Power X Inc. (DGXX)
- Setup: has reclaimed the 50-day moving average, which is rising near $3.72.
- Target: expect a partial retracement of the month’s pullback with resistance potentially near $5.40 on the way up while the 50-day holds.
- Rule: maintain above the 50-day moving average to keep the bullish case intact.
Foxx Development Holdings Inc. (FOXX)
- Setup: trading inside a falling trend channel; the short-term top of that channel sits roughly around $6.00.
- Moving average: the 50-day line is a key reference, currently around $4.40.
- Action: a breakout through the upper boundary near $6.00 while holding above the 50-day would signal a change in structure.
Inspire Medical Systems, Inc. (INSP)
- Setup: classic bear trap reversal: a gap down in August followed by two gaps up in November.
- Key levels: break of the 200-day moving average around $123 would be important.
- Target: momentum could carry toward about $160 by the end of next month if the 200-day is cleared.
- Invalidation: an end-of-day close back below the recent low near $104 would undermine the bullish case.
NextCure, Inc. (NXTC)
- Setup: hit the top of the rising trend channel at roughly $12.30.
- Target: upside to about $20 by the end of next month if momentum continues.
- Support: staying on the right side of the recent broken resistance near $13 helps confirm the path higher.
Ondas Holdings Inc. (ONDS)
- Setup: broken a short-term trend line within a larger rising channel and cleared nearby resistance around $8.
- Targets: first look for a re-test of last month’s highs, with further upside possible toward the teens (technical targets in the low to mid teens) by the end of next month if $8 holds.
- Condition: remaining above the $8 zone is the primary requirement for the bullish path.
WeShop Holdings Limited (WSHP)
- Setup: assumed to be inside a rising trend channel despite limited data points.
- Target: the top of the channel projects up toward about $300 by the end of next month.
- Support & momentum: key broken resistance around $120 now acts as support; the RSI is comfortably above neutral in the low 60s, which helps the bulls.
Practical rules to trade these setups
- Trade confirmations: prefer end-of-day closes above the named resistance levels rather than intraday spikes.
- Use moving averages: the 50-day and 200-day moving averages are useful gatekeepers—staying above them supports continuation, violations increase the odds of pullback.
- Manage risk: set clear invalidation points and size positions so a retest of nearby support does not create outsized losses.
- Time horizon: the targets described are typically expected within a month or so; longer-range moves can extend into January depending on momentum.
Overall, the bias is constructive for the indices and for a number of individual names, provided the referenced support levels and moving averages hold. Watch the key end-of-day closes highlighted above to decide whether to add to exposure or sit tight until confirmation appears.
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.
