Monthly Archives: May 2011

Rogers Communications chart analysis

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Breakout for Rogers (RCI.B:TSX) at $36 on the candlestick chart
Candlestick chart for Rogers (RCI.B:TSX) showing the breakout at $36 and confirming indicators of volume, obv and RSI

Rogers (RCI.B:TSX) Six-Month Candlestick Chart

What are the key points on the chart for Rogers?

  • Breakout at $36 which was a resistance level.
  • Bullish white candlesticks which closed near the high for each day.
  • The stock price is above the three simple moving averages — 10-Day, 20-Day and 40-Day.
  • Volume is increasing with the uptrend.
  • OBV is confirming the uptrend.
  • RSI is confirming the uptrend

Reference the fundamentals for Rogers.  Also, reference the previous analysis for a competitor: BCE.

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.

© 2011 TradeOnline.ca

Candlestick chart analysis for BCE

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What was the reaction on the chart to the earnings release for BCE?
BCE chart analysis based on the daily chart showing the reaction to the earnings release with confirming indicators of volume, OBV and RSI.

BCE Daily Candlestick Chart

It is very important to evaluate the reaction on the chart to a earnings release or company announcement: this is the only thing that counts.

What are the key points on the above chart?

  • Tall bullish white candlestick in reaction to the results.
  • Above average volume for the candlestick is confirming the uptrend.
  • On Balance Volume (OBV) is confirming the move.
  • Relative Strength Index (RSI) is confirming the move.
  • RSI is overbought but this is normal on a fast upward move.
  • $38.00 is near-term resistance

Based on the chart, I have an intermediate target of $40.00 for BCE. Investors are moving money into stable dividend paying utilities, and BCE has a very attractive yield.

Reference the previous chart analysis for BCE based on the daily chart. And reference the previous analysis based on the weekly chart.

View the quarterly results for BCE.

Relevant articles from the web:

BCE analysis based on the daily candlestick chart

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Two shaven head candlesticks bode well for the uptrend
BCE daily candlestick analysis showing two shaven head candlesticks with confirming indicaors of volume, OBV and MACD

BCE Six-Month Daily Candlestick Chart Analysis

Updated BCE chart analysis published August 3, 2012

Some key points from the above daily chart are:

  • A bullish shaven head (closes on the high) candlestick has closed above resistance of $36.75.
  • The near-term trend is up as indicated by the two bullish candlesticks.
  • On Balance Volume (OBV) is confirming the near-term uptrend.
  • The MACD is confirming the near-term uptrend.
  • Volume is ok but a little light for the two bullish candlesticks.

I use the above analysis as one of the inputs for a derivative trading strategy. Derivatives will not be reviewed in this post.

Reference the previous analysis of BCE based on the weekly chart.

BCE  will release quarterly results on Thursday, May 12, 2011.  It is important to monitor the reaction on the chart to these results.

Update May 12, 2011:  Here are the results.  Now you have to monitor the reaction on the charts.

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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.

© 2011 TradeOnline.ca

Dundee REIT (D.UN:TSX) candlestick chart analysis

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Dundee Real Estate Investment Trust in an uptrend
Technical analysis of Dundee REIT using the 3-year candlestick weekly chart showing the stock in an uptrend

Dundee REIT (D.UN:TSX) Three-Year Weekly Chart

Reference the previous chart analysis for Dundee REIT.

Update July 21, 2011: Dundee grabs office buildings

Update January 24, 2012: ScotiaPlaza sale should provide boost to REITs

TSX Index candlestick chart analysis

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What is the downside risk for the TSX Index?
Candlestick chart analysis for the tsx index showing the downside risk based on the double top and retracement levels.

2-Year Candlestick Chart of the TSX Index

What are the key points from the above chart of the TSX?

  • There is the possibility of a double top at 14,300.
  • Major support on the weekly chart is 13,500. Reference the previous chart.
  • I use a two-day time filter and a 2% penetration rule based on the closing prices.
  • 13,500 will become resistance if the TSX closes below 13,500 using the above filters.
  • 13,200 (near the March 7 retracement of 13,250) would then become major support.
  • Using the above filters, a closing price of around 12,900 would confirm a double top.
  • The downside risk would then be around 12,200.

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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.

© 2011 TradeOnline.ca