Zak Mir takes a charting look at S&P 500, Nasdaq 100, Foxx, Falcon’s Beyond, Globus, iPower, Leslies, Mongo, Powell Max, SMX, TryHard, WeShop.
The market profile remains constructive. Major indexes are trading inside clear rising channels and several individual names are carving out bull setups that could deliver meaningful upside over the next few weeks. The theme is straightforward: as long as key moving averages and support levels hold, upward momentum looks likely to continue.
As always, do your own research and treat these as chart-based observations rather than hard recommendations.
Major Indexes
S&P 500
The S&P is tracking a well defined rising trend channel that stretches back to April. A short negative channel from September was broken around 6820, opening a path toward the channel ceiling.
- Target: up to 7080 by the end of next month if the trend holds.
- Key support: the 50 day moving average near 6730. A daily close beneath that risks a pullback toward the channel floor around 6580.
- Momentum: RSI sitting in the mid 50s and holding above the prior October resistance line, which supports higher prices.
Nasdaq 100
The Nasdaq 100 has cleared its October resistance and the 50 day line around 25,000. With RSI at 57 and a recent rebound above neutral 50, the index is set up for another leg higher.
- Target: a run toward the channel top near 27,000 over the coming weeks.
- Downside guard: any serious pullback should hold above about 24,000 to keep the bullish case intact.
Select Stocks to Watch
Below are focused setups where the combination of price structure, moving averages and RSI suggest clear trade rules. For each name the plan is simple: respect the support levels, manage risk, and look for the targets noted.
Foxx Development Holdings Inc. (FOXX)
Price action has formed a V shaped bull flag that bounced from the 50 day around $4. While above the recent pivot near $6.20, the upside target looks attractive.
- Target: as high as $9 by the end of next month.
- Key support: stay above $6.20 and monitor the rising 200 day moving average.
- Momentum: RSI has rebounded above 50 which favors the bulls.
Falcon’s Beyond Global, Inc. (FBYD)
The shares recently hit the top of their rising channel near $26 and overshot to the high $29 area. Support near the prior resistance is the focus for a renewed push.
- Support to hold: roughly $19 to $20.
- Target: a retest of the channel top around $28 and beyond if momentum continues.
- Momentum: another RSI 50 plus rebound, which preceded the earlier upside move.
Globus Maritime Limited (GLBS)
Globus is edging toward its resistance projection with a clear path higher while sitting above the short term pivot.
- Target: near $1.86 later this month.
- Key support: maintain price at or above roughly $1.50. Old resistance at $1.40 is now a reference point.
iPower Inc. (IPW)
This setup is a bit more precarious but shows classic bullish divergence with lower November lows matched by a higher RSI trace. A saucer shaped rebound adds an extra tailwind.
- Target: top of the falling channel near $17.70 by month end.
- Key support: stay above the $11 area after breaking recent resistance around $10.80.
Leslie’s, Inc. (LESL)
New to this list. The chart displays a rising trend channel and bullish divergence in the RSI despite recent dips.
- Short term pivot: broken resistance around $330.
- Near term target: the 50 day moving average around $403.
- Stretch objective: up to $540 by the end of next month, though the 50 day remains an important hurdle.
MongoDB, Inc. (MDB)
Price gapped higher and nearly reached an initial target near $420. A follow through above that level would extend the advance.
- Immediate support: hold above broken resistance at $380.
- Targets: a fresh leg could take the stock toward the $540 region.
- Note: previous August gap means momentum needs to sustain gains to validate further upside.
Powell Max Limited (PMAX)
Pmax has the look of a broadening triangle base and has cleared short term resistance.
- Entry: breakout through the $2 area.
- Targets: first the 200 day at around $280, best case up to $350 by month end.
- Confirmation: conservative traders may wait for an end of day close above the 50 day near $237.
SMX (Security Matters) Public Limited Company (SMX)
SMX has consolidated above an initial target and held the top of its gap, which is constructive price action.
- Support: standing above the gap top around $30.
- Short term target: retest the recent resistance around $66.
- Stretch target: a move back to the old October resistance just above $100 over the next month or two.
TryHard Holdings Limited (THH)
The name has been living up to itself with a solid breakout through the $15 zone and a wide intraday range yesterday.
- Key support: keep price above $20.
- Target: a run toward $30, with the September resistance line acting as the projection.
WeShop Holdings Limited (WSHP)
New to the market and showing a possible rising trend channel. Momentum looks healthy with an RSI around 63.
- Key caution: wait for an end of day close through the challenging resistance near $155 if you prefer confirmation.
- Targets: above $100 opens a path to as much as $260 by the end of next month.
Trading Rules and Risk Management
Several consistent themes emerge from these setups:
- Trade with the channel and use the rising trend boundaries as targets and stops.
- Respect the 50 day as the tactical line in the sand. Many bullish cases fail if the 50 day is lost on a sustained basis.
- Watch RSI for rebounds above 50. These have been useful leading indicators for the next leg higher.
- Use end of day closes to confirm breakouts if you prefer lower false break risk.
Overall, the setup is punchy. Momentum is supportive across the indexes and a number of stocks have clean, tradable structures. Protect capital by honouring the support levels listed and adjust targets as price action dictates.
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.
