Dec 312012
 
Bullish engulfing candlestick pattern — last trading day of 2012
Candlestick chart analysis for the Dow Jones Industrial Average showing a bullish engulfing candlestick pattern for the last trading day of 2012.

DJIA 6-Month Daily Chart

Reference the last chart analysis published on December 27, 2012 showing the hammer candlestick line.

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Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The chart snippets are from BigCharts.com which I recommend and have used for fifteen years. The author of this article may hold long or short positions in the featured stock or index.

© 2012 TradeOnline.ca

May 242012
 
Bullish engulfing pattern on the daily chart
Teck Resources candlestick chart analysis showing a bullish engulfing pattern on the daily chart.

Teck Resources (TCK.B:TSX) Daily chart

Positive move for Teck Resources even as the price of copper reached new lows.

Teck has good support in the $30.00 zone.

Relevant articles picked from the Web:

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Note: This technical analysis is for educational purposes so you can learn to trade online using candlestick charts. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The chart snippets are from BigCharts.com which I recommend and have used for fifteen years. The author of this article may hold long or short positions in the featured stock or index.

© 2012 TradeOnline.ca

Aug 122011
 

Bullish Engulfing Pattern on the daily candlestick chart

Precision Drilling chart analysis showing the bullish engulfing pattern

Precision Drilling Candlestick Cahrt

You can see from the chart that the $12.00 level provided support in the recent sell-off.  The bullish engulfing candlestick pattern confirmed the bottom with above-average volume. You now have a stop-loss point at the major support level of $12.00 and you have near-term and intermediate targets.

Precision Drilling is a stock that can be traded and is in a near-term uptrend.

Reference the previous analysis for Precision Drilling.

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Note: This technical analysis is for educational purposes so you can learn to trade online using candlestick charts. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The chart snippets are from BigCharts.com which I recommend and have used for fifteen years. The author of this article may hold long or short positions in the featured stock or index.

Jul 032011
 

Bullish Engulfing Patterns: Size Counts

Three-year candlestick chart analysis for the S&P 500 Index based on the weekly chart and showing bullish engulfing candlestick patterns

S&P 500 Index Three-Year Weekly Candlestick Chart

There is a high probability that the  S&P 500 Index will test major resistance of 1,370 within the next two weeks. Using the 2% rule, a convincing close of 1,400 for two consecutive days would set-up the index for an upside target of 1,470.

A failed low-volume test of resistance would see the S&P 500 index move into a trading range of  1,350-1,250. And then we will be back to monitoring the major support level of 1,250.

 

Reference the previous analysis of the S&P 500 Index using candlesticks