Author Archives: Trader

Suncor (SU:TSX) candlestick chart analysis

Breakout at $35.00 on the weekly chart with a bullish white candlestick
Breakout for Suncor on the weekly candlestick chart with resistance at $40.00.

Suncor Weekly Chart

The reversal of roles is an important concept in technical analysis: $35.00 was the resistance level and it is now the new support level. Suncor must hold above this new support level or the breakout will be nullified.

Reference the last chart analysis for Suncor based on the daily chart.

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

iShares Capped Energy Index (XEG:TSX) chart analysis

Breakout at $18.00 for (XEG:TSX) ETF
Candlestick chart analysis for iShares Capped Energy Index ETF showing the breakout at $18.00

iShares Capped Energy Index ETF

The reversal of roles is an important concept in technical analysis. $18.00 was the resistance level on the weekly chart. It is now the new support level. This Exchange Traded Fund (ETF) must hold above the new support level or the breakout is nullified.

Reference the iShares website to review the holdings for the capped energy index.

Please review the most recent analysis for Suncor (SU:TSX) which represents 17.87% of the ETF.

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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

Technical Analysis: Suncor (SU:TSX)

Breakout for Suncor with two bullish white candlesticks
Suncor (SU:TSX) technical analysis based on the daily candlestick chart with a breakout at $35.00.  Two bullish white candlesticks are identified on above average volume.  RSI and OBV are confirming the intermediate uptrend.

Suncor Six Month Candlestick Chart

A key point in the above analysis is the reversal of roles from resistance to support. $35.00 was the identified resistance level on the last chart analysis. It is now support.

Reference the last chart analysis for Suncor which was also based on the daily chart.

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

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

TSX Index candlestick chart analysis

TSX Index in a consolidation pattern with resistance at 12,500
TSX Index candlestick chart analysis showing the holding pattern around the 12,500 level.

TSX Index Weekly Chart

I am looking for a confirmed breakout above the resistance level of 12,500. I use both a price filter and time filter to confirm a breakout. In this case, the price filter is +1% and the time filter is two days.

Reference the last chart analysis for the TSX Index.

______________________________

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

Technical Analysis: Precision Drilling (PD:TSX)

Near-term uptrend for Precision Drilling will meet resistance at $11.50
Precision Drilling chart analysis showing the downward sloping trendline and a near-term uptrend.

Precision Drilling Six Month Daily Chart

Precision Drilling reports fourth quarter results for 2011 on Thursday, February 9, 2012.

Reference my chart analysis for Precision Drilling posted October 12, 2011.

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.

© 2011 TradeOnline.ca

Suncor (SU:TSX) daily candlestick chart analysis

Suncor trading in a narrow congestion area
Suncor (SU:TSX) daily candlestick chart analysis showing the congestion area with resistance at $35.00.  Confirming indicators are Volume, OBV and RSI.

Suncor (SU:TSX) Daily Chart

Key points to consider from the above daily candlestick chart:

  • Trading in a narrow congesting area also known as a trading range of $34-$35.
  • The near-term trend is sideways.
  • The intermediate trend is up.
  • The probability favors the continuation of the intermediate uptrend.
  • Volume, OBV and RSI are confirming indicators.
  • Look for increased volume and a breakout at $35 to add to long positions.
  • A confirmed break below $34 would be reason to liquidate long positions.
  • A time period to monitor for resolution of the congestion area is one to three months.

Reference my March 11, 2011 post for Suncor: Bearish engulfing pattern on the weekly chart

Reference my March 10, 2011 post for Suncor: Is the sun still shining on Suncor?

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

______________________________

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

TSX Index analysis using the weekly candlestick chart

TSX Index must hold above 12,500 for a chance to grind higher
TSX Index candlestick chart analysis based on the weekly chart.  The index must hold above 12,500.

TSx Index Weekly Chart

Please review the last chart analysis for the TSX Index.

______________________________

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

Technical Analysis: TSX Index candlestick chart

Spinning Top candlestick represents indecision for the TSX Index
Candlestick chart analysis for the TSX Index using the weekly chart.  The Spinning Top candlestick represents indecision for the week of January 23, 2012.

TSX Index Weekly Chart

Please review last weeks 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.

© 2011 TradeOnline.ca