Chart of the Day for Week of January 5 - Conagra
Highly precise price action technical analysis offers the strongest trading edges and the most opportunities across the markets, making it the foundation of our reviews.
Since May 2023, ChartPros has published hundreds of Chart of the Day posts designed to help traders learn how to read price with clarity and confidence. As markets evolve, so should the way we study them.
Starting in January 2026, Chart of the Day transitioned to a weekly format. Each featured chart will include deeper analysis, clearer structure, and more strategic context. Fewer charts. More focus.
This week’s Chart of the Day for the week of January 5 focuses on Conagra Brands (CAG), a consumer staples company known for household brands including Healthy Choice, Birds Eye, Slim Jim, Hunt’s, and Marie Callender’s.
With price pressing into a long-term decision area, this chart provides a clean example of how structured price action analysis helps traders stay objective.
Consistent profitable investing and/or trading requires a structured, rules-based approach to price action analysis. Proven processes, disciplined risk-reward management, and precise execution create the foundation for long-term success.
When combined with powerful mental performance strategies, this method becomes the ultimate blueprint for thriving in any market, on any time frame.
As requested, this analysis will take a price action technical analysis approach to assess key levels and potential next price moves for this chart.
The 5-Step Charting Process in the NeuroTrading Method®
The 5-Step Charting Process in the NeuroTrading Method® is a structured approach to reading price action with clarity and confidence. This process is designed to eliminate guesswork, reduce noise, and support disciplined execution.
1. Identify Support and Resistance (S/R)
Key levels are marked on the Monthly and Weekly charts, working left to right to establish long-term market structure.
2. Assess Trend Structure
Trend direction is evaluated across timeframes to determine whether price is trending, transitioning, or consolidating.
3. Apply Fibonacci Anchoring
Only Fibonacci levels visible on the chart are used, with anchors placed precisely to highlight reaction zones and extensions.
4. Map Change Control Zones and Supply/Demand
Areas where control shifts between buyers and sellers are identified to define decision points.
5. Develop the Trade Plan
Directional bias, levels of interest, risk parameters, and execution criteria are defined before any trade decision is considered.
Monthly Chart
The monthly chart shows CAG in a prolonged downtrend from its highs near the low $40s. Recently, price has pushed below long-term support and is attempting to reclaim that area.
This creates a textbook Failed Break Down (FBD) scenario. A Failed Break Down occurs when price breaks below a key support level, fails to attract sustained selling pressure, and then reclaims that level. Traders using the FBD method look for acceptance back above former support, which often acts as a signal that downside momentum has stalled and a reversal or mean reversion move may be developing.
In CAG’s case, price is hovering near this reclaimed zone, making the next few weekly closes critical for confirmation.
With plenty of volatility traders have had much to be happy with and long term buy and hold investors have been on a roller coaster ride.
This kind of movement highlights why a cautious and well-informed approach is essential when evaluating a stock’s short to mid term outlook.
Weekly Chart
On the weekly chart, price structure highlights a clear sequence of lower highs and lower lows that has begun to flatten. The recent bounce off lows is constructive, but overhead resistance remains well-defined.
The current setup presents a decision zone rather than a prediction. Bulls want to see continued acceptance above reclaimed support levels, while bears will be watching for failure and rejection back into the prior range. This is where patience and confirmation matter most.
It goes without saying though, the only guarantee in the markets is that price cycles. It cycles up and it cycles down across all time frames and all charts and rarely, if ever, moves in a straight line.
Only time will tell for sure what price will do next...
We’ve combined Fibonacci levels with key support/resistance zones and trend analysis to pinpoint potential price levels of interest and future targets.
With precision-focused charts like these, both traders and investors can confidently build and execute their strategies.
Key Takeaway
This weekly Chart of the Day format reflects how successful traders actually operate. They do not need more charts. They need better structure, better preparation, and clearer decision frameworks.
Chart of the Day is not going away.
It is leveling up.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Take a look at the charts and let us know what you think. We'd like to hear from you in the comments sections.
Because You Were Interested in today's FREE Chart of the Day...
You may also be interested in this FREE Trading Workshop designed for traders with ambitious income goals but struggle with consistency.
The Breakthrough Method For Traders Who Know What To Do But Struggle With Consistency
Gain Confidence and Clarity with the Patent-Pending NeuroTrading Method®
Learn The Exact System With This Step By Step Training (Even If You Can Only Trade Part Time)
Start Seeing Measurable Results in 21 Days