Author Archives: Trader

Technical Analysis: U.S. Treasury 10-Year Note

Near-term trend is down with support at 1.80%
The near-term trend is down for the U.S. Treasury 10-Year Note and the intermediate trend is sideways.

U.S. Treasury 10-Year Note Weekly Chart

This is a key indicator that I monitor daily.

Reference the last chart analysis for the U.S. Treasury 10-Year Note.

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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

Thomson Reuters (TRI:TSX) candlestick chart analysis

Shooting star candlestick at resistance of $30.00
Thomson Reuters six month daily candlestick chart showing a shooting star candlestick as a reaction to the earnings release.

Thomson Reuters (TRI:TSX) Daily Chart

There was a positive reaction to the earnings release for Thomson Reuters as indicated by the gap and the close of $29.78. But the shooting star candlestick is a graphical representation of the selling pressure at the $30.00 resistance level. The stock opened at $29.75, rallied to $30.21 but closed at $29.78: practically unchanged from the open.

The trend is everything in technical analysis. The major trend is down for Thomson Reuters, the intermediate trend is sideways and the near-term trend is up.

A confirmed break (use the percentage and time filter) above resistance of $30.00 would indicate an intermediate target price of $33.00. If the stock cannot break resistance, it will continue to trade in the congestion zone with support around the $28.00 level.

Thomson Reuters Reports First-Quarter 2012 Results

We are all students of the market and it can be a harsh teacher. Enjoy your trading day.

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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

TSX Index candlestick chart analysis

TSX continues to hold the 12,000 support level
TSX Index candlestick chart analysis showing the support level of 12,000

TSX Index Weekly Chart

Still a negative technical profile for the TSX Index. Can anyone show me one positive attribute on this chart? Yes, it continues to hold 12,000.

One glimmer of hope for the TSX is that the energy stocks, as measured by the broad-based ETF (XEG:TSX), may have a bottom. XEG found support at $15.50 and is in a near-term uptrend but the major trend is still down. Trade according to the market signals.

On another subject related to the TSX Index, the downward spiral in natural gas seems to have stopped. Zero was in sight. But, a lot of investors were burnt with this commodity. Play natural gas cautiously and have predetermined exit points. A conservative play on natural gas is Encana (ECA:TSX), a direct play on the commodity is the U.S. Natural Gas Fund (UNG), and a leveraged play for the aggressive investor is Horizons BetaPro (HNU:TSX).

Reference the last chart analysis for the TSX Index.

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

Encana (ECA:TSX) candlestick chart analysis

Positive reaction to earnings release for Encana
Encana candlestick chart showing the positive reaction to the earnings release and the upward movement in natural gas pricing.

Encana (ECA:TSX) Daily Candlestick Chart

The reaction of the stock price to a news event, which includes earnings releases, is all that counts. You take your cue from this market signal and trade accordingly.

The intermediate trend is sideways and the near-term trend is up. The key support and resistance levels are identified on the above chart. Technical analysis is all about evaluating the probabilities and there is a high probability that Encana has found a bottom around $17.50. A confirmed break above the $21.00 to $22.00 level would indicate an intermediate target price of $28.00. My definition of a confirmed break in this case would be $22.66 that holds for at least two days.

Encana, with $2.4-billion (U.S.) in cash on its balance sheet today, aims to increase that number to $3-billion by year’s end.

Reference the Encana website to review the fundamental data for the company.

Reference my last chart analysis for Encana on March 18, 2011.

Relevant article 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

Technical Analysis: Dundee REIT (D.UN:TSX)

Support and resistance levels for Dundee REIT
A daily candlestick chart for Dundee REIT showing the support and resistance levels.

Dundee REIT (D.UN:TSX) Daily Chart

Dundee Reit has been one of my core holdings over the past two years. And I was fortunate to own a significant position in Whiterock REIT when it was acquired by Dundee. The major trend is still up for Dundee but it will have to break resistance of $37.50, the March high, to continue the uptrend. The May 3 earnings release could be the catalyst for the breakout above resistance. If not, there will be a test of the $35.00 support level.

Reference my last chart analysis for Dundee REIT which was posted on May 9, 2011.

Visit the corporate website to review the fundamental data.

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

TSX Index candlestick chart analysis

TSX must hold 12,000 or will test 11,500
Negative technical profile for the TSX Index.  If the TSX cannot hold 12,000; it it will test 11,500.

TSX Index Weekly Chart

What more can I say to describe the above chart: the TSX Index has a negative technical profile. It is the worst performing index outside of France. Yes, it has been a real dog last year and so far this year.

Reference the last chart analysis for the TSX Index.

Relevant articles picked from the Web:

______________________________

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

Chart for copper showing support and resistance levels

Copper maintains the lateral trading band
Chart analysis for copper showing the intermediate lateral trading band with support and resistance levels.

Copper One Year Daily Chart

Reference the last chart analysis for copper posted April 13, 2012.

View Kitco for updated charts and other time periods.

Relevant articles picked from the Web:

______________________________

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