Author Archives: Trader

U.S. Treasury 10-year note chart analysis

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Major resistance for the 10-year note is 2.40%
Near-term uptrend for the 10-year treasury with major resistance at 2.40%. The new support level is 2.10% and the intermediate trend is sideways.

US Treasury 10-Year Yield Weekly Chart

U.S. Treasury 10-year note has been trading in an intermediate lateral band of 1.80% to 2.10% for the past six months. The reversal of roles is an important concept in technical analysis and the old resistance level of 2.1% is now the new support level. Can the index breakout above 2.4% which is a major resistance level that was tested last October? Or will the TNX ease into another lateral trading band with 2.10% as the new support level?

Reference the last chart analysis for the 10-year treasury based on the weekly chart when it was unable to break the resistance level of 2.40% last October.

“Unless you want to earn an inflation adjusted return of minus 2-3% as offered by Treasury bills, then you must take risk in some form.” Bill Gross

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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

Great-West Life (GWO:TSX) candlestick chart analysis

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Another breakout for Great-West Life on the daily chart
Another breakout for Great-West Life on the daily candlestick chart. RSI is confirming the uptrend.

Great-West Life Candlestick Chart

The Lifecos are having a good run as the bond yields increase and the US indexes advance. Combine this with an above average dividend yield and the rally may continue. Great-West Life, Power Financial, Manulife and Sun Life are all moving to the upside.

Reference the Great-West Life website to review the fundamental data for the company.

Reference my last chart analysis for the TSX Index which is currently struggling in a consolidation range due to the energy and materials components.

“If rates drop 100 bps, Great-West would see its core earnings drop an estimated 9%, compared with 33% for Manulife and 45% for Sun Life. As a result, Mr. Aiken prefers Great-West Life based on its smaller exposure to interest rates.”

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

PetroBakken Energy (PBN:TSX) chart analysis

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Breakout for PetroBakken Energy on the daily chart
PetroBakken Energy candlestick chart analysis showing the morning star candlestick pattern. Two bullish white candlesticks confirmed a breakout at $17.00. Volume, On Balance Volume and the Relative Strength Indicator are confirming the uptrend.

PetroBakken Energy (PBN:TSX) Candlestick Chart

PetroBakken Energy (PBN:TSX) candlestick chart analysis showing the morning doji star candlestick pattern. And a bullish white candlesticks gaps away from the previous white candlestick with a confirmed breakout at $17.00. Volume, On Balance Volume (OBV) and the Relative Strength Indicator (RSI) are confirming the uptrend.

The morning doji star is a major reversal pattern which called an end to the near-term downtrend that started on February 23. It is comprised of three candlesticks. The first candlestick is the dark tall bearish candlestick that appeared on March 5. The bears were in control at this stage but the volume was relatively light. Then on March 6, a gap appears with a doji (narrow or the same opening and closing) which is the second part of the pattern. Then on March 7, there is another gap and a tall white candlestick associated with above average volume. The reversal pattern is now completed. This particular morning star formation is rare and would be properly called an abandoned baby. It has two gaps where there is no overlap of the shadows.

You must always be cognizant of the fundamental news for a company and the reaction on the chart. View the following release for the details: PetroBakken Energy Ltd. is pleased to announce our fourth quarter and year-end 2011 financial and operating results.

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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: TSX Index candlestick chart

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Harami candlestick pattern for the TSX Index
Harami candlestick pattern on the weekly chart of the TSX Index indicates caution. Monitor support at 12,500. A confirmed break below support would be a reason to liquidate selected long position.

TSX Index 3 year Weekly Candlestick Chart

I start each trading week with an analysis of the major US and Canadian indexes. A three year weekly candlestick chart is my tool of choice. Three simple moving averages (50 day, 100 day and 200 day) are used to monitor the trend and any crossovers. Volume, On Balance Volume (OBV) and Relative Strength Index (RSI) are used as confirming indicators and to spot divergence.

The harami candlestick pattern identified on the above chart of the TSX Index is similar to the Western inside day. This is not a major reversal pattern but caution is advised. The TSX Index may move into a consolidation range between support and resistance. But a break below support of 12,500 would be reason enough to liquidate selected long position.

Reference last weeks analysis of the TSX Index which highlighted the confirmed breakout above resistance of 12,500.

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

RBC Royal Bank (RY:TSX) chart analysis

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Confirmed breakout for RBC at $55.00
RBC Royal Bank chart analysis based on the daily candlestick chart showing the breakout at $55.00. Above average volume and on balance volume are confirming the breakout.

RBC Royal Bank Daily Candlestick chart

The reversal of roles is an important concept in technical analysis: $55.00 was resistance and it is now the new support level.

Reference previous charts for RBC Royal Bank:

Review the RBC Royal Bank website for 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.

© 2011 TradeOnline.ca

TSX Index candlestick chart analysis

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Confirmed breakout for the TSX Index above 12,500
Confirmed breakout for the TSX Index on the weekly chart.

TSX Index Chart Analysis

Reference last weeks chart analysis for the TSX Index which was also based on the weekly chart.

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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

Suncor (SU:TSX) candlestick chart analysis

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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:

______________________________

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

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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