Author Archives: Trader

TSX Index candlestick chart analysis

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Intermediate trend is sideways for the TSX Index
TSX Index candlestick chart analysis showing support and resistance levels. The chart also identifies the major trend, intermediate trend and the near-term trend.

TSX Weekly Candlestick Chart

When the major trend is down, and the intermediate trend is sideways; the best trading decision is to raise cash levels, and stay out of the market.

Reference last weeks analysis of the TSX Index: not much has changed.

What are the critical support levels for the TSX Index?

What is a Double Top Reversal Pattern identified in the above chart?

Relevant articles picked from the Web:

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The main purpose of TradeOnline.ca is a starting point for your own chart analysis. Technical analysis serves as a guidepost in your daily investment analysis and is used in conjunction with fundamental analysis. There is no magic formula for making profits when you trade online in the stock market. We are all students of the market, and one should never give up reviewing and learning the basics. Visit the Advanced Chart Settings and customize BigCharts so you can review different time periods.

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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 chart analysis

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Can the TSX Index break the resistance level of 12,500?

Candlestick chart analysis for the TSX Index showing support and resistance levels. Can the TSX Index break the resistance level of 12,500? RSI is confirming the intermediate downtrend.

TSX Index Weekly Candlestick chart

Reference the recent chart analyses for the TSX Index:

What are the critical support levels for the TX Index?

Relevant articles from the Web:

______________________________

The main purpose of TradeOnline.ca is a starting point for your own chart analysis. Technical analysis serves as a guidepost in your daily investment analysis and is used in conjunction with fundamental analysis. There is no magic formula for making profits when you trade online in the stock market. We are all students of the market, and one should never give up reviewing and learning the basics. Visit the Advanced Chart Settings and customize BigCharts so you can review different time periods.

______________________________

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

Royal Bank of Canada – RBC – chart analysis

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Two breakaway gaps on the candlestick chart for RBC
Royal Bank of Canada - RBC - candlestick chart analysis showing two breakaway gaps. The last gap appeared after the earnings release. The chart shows three simple moving averages. The intermediate trend is down and the near-term trend is up. The resistance level is $50.00. Three was above average volume for the last gap after the earnings release. The relative strength indicator known as RSI is confirming the near-term uptrend for the Royal Bank of Canada. RBC is traded on the Toronto stock exchange under the symbol (RY:TSX). This is the largest bank in Canada.

RBC Six-Month Daily Candlestick Chart Analysis

Reference two previous charts for RBC:

Key points from the above chart analysis are:

  • The intermediate trend (three weeks to six months) is still down.
  • The near-term trend (less than three weeks) is up.
  • RBC is trading above the three simple moving averages.
  • The 10-day SMA is crossing the 20-day SMA.
  • Volume is increasing with the near-term uptrend.
  • RSI is confirming the near-term uptrend.
  • Two breakaway gaps bode well for the uptrend.
  • The last gap (window) should provide support ($48) on any pullback.
  • The near-term resistance level is around $50.00.
  • You must take into account the trend for the overall market – TSX Index.
  • The intermediate trend for the TSX Index is down.

Conclusion

When you trade the markets, you are dealing with probabilities.  What is the probability of the the near-term uptrend continuing for RBC?

Relevant articles picked from the Web:

______________________________

The main purpose of TradeOnline.ca is a starting point for your own chart analysis. Technical analysis serves as a guidepost in your daily investment analysis and is used in conjunction with fundamental analysis. There is no magic formula for making profits when you trade online in the stock market. We are all students of the market, and one should never give up reviewing and learning the basics. Visit the Advanced Chart Settings and customize BigCharts so you can review different time periods.

______________________________

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: Royal Bank (RY:TSX)

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RBC chart analysis showing a bullish shaven head candlestick
Six-Month daily candlestick chart for the Royal Bank showing a bullish shaven head candlestick. Three simple moving averages (SMA) are identified on the chart. The intermediate trend is down which is highlighted by the 40-day moving average. Resistance is at $50.00 and support should be around the gap which is sometimes called a window. On Balance Volume is shown on the chart analysis and aslo the Relative Strength Indicator (RSI). The Royal Bank is the largest bank in Canada and is traded on the Toronto Stock Exchange with the symbol of RY.

Royal Bank (RY:TSX) Candlestick Chart

Reference the last chart analysis for the Royal Bank of Canada based on the weekly candlestick chart: Royal Bank chart analysis indicates a bottom

The key points from the above chart analysis of the Royal Bank are:

  • Will there be follow-through in buying after the bullish shaven head candlestick?
  • What will be the reaction on the chart to the earnings release this Friday?
  • The intermediate trend is still down for RBC.
  • The overall market action for the TSX Index must be taken into account.
  • The intermediate trend for the TSX Index is still down.
  • The gap (window) will act as support on any pullback.
  • Major resistance level for RBC is around $50.00 on both the daily and weekly chart.
  • There must be above average volume to sustain the near-term uptrend.
  • The Relative Strength Indicator (RSI) is confirming the near-term uptrend.

Relevant articles picked from the Web:

______________________________

The main purpose of TradeOnline.ca is a starting point for your own chart analysis. Technical analysis serves as a guidepost in your daily investment analysis and is used in conjunction with fundamental analysis. There is no magic formula for making profits when you trade online in the stock market. We are all students of the market, and one should never give up reviewing and learning the basics. Visit the Advanced Chart Settings and customize BigCharts so you can review different time periods.

______________________________

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 daily candlestick chart

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Spinning top candlestick represents indecision

TSX index candlestick chart analysis based on the daily chart showing a spinning top candlestick with support and resistance
TSX Index Daily Chart

Reference the last chart analysis for the TSX Index based on the monthly logarithmic chart.

Reference the last chart analysis based on the weekly candlestick chart.

Relevant articles from the Web:

 ______________________________

The main purpose of TradeOnline.ca is a starting point for your own chart analysis. Technical analysis serves as a guidepost in your daily investment analysis and is used in conjunction with fundamental analysis. There is no magic formula for making profits when you trade online in the stock market. We are all students of the market, and one should never give up reviewing and learning the basics. Visit the Advanced Chart Settings and customize BigCharts so you can review different time periods.

______________________________

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 monthly logarithmic chart

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TSX Index long-term chart to ponder the big picture

TSX Index chart analysis using the monthly logarithmic chart with major support and crossovers

TSX Index Monthly Logarithmic Chart

I analyze the long-term charts of the major indexes and proceed to the near-term charts. Reference the last chart analysis of the TSX Index based on the weekly chart.

When you invest, you are playing the odds: there is never a certain win in the markets.  At this stage, the odds of a major downside correction outweigh the upside.  It is prudent to stay on the sidelines with an above average cash position.

Relevant articles from the web:

______________________________

The main purpose of TradeOnline.ca is a starting point for your own chart analysis. Technical analysis serves as a guidepost in your daily investment analysis and is used in conjunction with fundamental analysis. There is no magic formula for making profits when you trade online in the stock market. We are all students of the market, and one should never give up reviewing and learning the basics. Visit the Advanced Chart Settings and customize BigCharts so you can review different time periods.

______________________________

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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TSX Index closed below support of 12,000

candlestick chart analysis for the tsx index showing the bearish candlestick pattern with a shaven bottom and the new resistance level of 12,000

TSX Index Candlestick Chart

The intermediate trend is down for the index: cash is king.

The reversal of roles from support to resistance or resistance to support is an important concept in technical analysis. In the above chart, I highlighted a real time example where 12,000 was support on the chart analysis last week. It is now the resistance level for the TSX Index: at least for now.

Reference last weeks chandlestick chart analysis based on the weekly chart.

Financial Post article dated Nov 21, 2011: What you need to know before markets open

______________________________

The main purpose of TradeOnline.ca is a starting point for your own chart analysis. Technical analysis serves as a guidepost in your daily investment analysis and is used in conjunction with fundamental analysis. There is no magic formula for making profits when you trade online in the stock market. We are all students of the market, and one should never give up reviewing and learning the basics. Visit the Advanced Chart Settings and customize BigCharts so you can review different time periods.

______________________________

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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TSX Index in a consolidation range

TSX Index candlestick chart analysis showing a consolidation range

TSX Index Weekly Chart

The following are the key points from the above chart analysis:

  • The near-term trend is sideways.
  • Trading in a consolidation range.
  • Support is 12,000.
  • Resistance is 12,500.
  • Reference the Oct 3 post regarding major support of 11,000.
  • I explained the double top reversal pattern in the June 18 post.
  • Another post explaining the double top reversal pattern on May 6.
  • The April 24 post warned of the double top.
  • The possibility of a double top was raised in the April 14 post.

What is a reasonable trading strategy at this point in the market?

The TSX Index is trading in a near-term consolidation range as indicated on the chart. A neutral trading strategy with an above average cash position would be appropriate. A confirmed break (+2% for two days) above the 12,500 resistance level would be a reason to add cautiously to long positions. A confirmed break below support of 12,000 would be a reason to liquidate longs.

Past posts for the TSX Index provide continuity in the analysis:

Reference the last chart analysis dated Nov 4 for the TSX Index. This chart identified the harami cross candlestick pattern with a tweezers top. You can also review the TSX Index Category for a sequential listing of charts.

The following current articles are picks from the web:

Financial Post article dated Nov 12, 2011: Does anyone really want us to be financially savvy?

Financial Post article dated Nov 11, 2011: Mr. Market’s mood is picking up

Financial Post article dated Nov 11, 2011: Ride volatility with managed futures

Financial Post article dated Nov17, 2011: Run from debt to cash sparks sell off

______________________________

The main purpose of TradeOnline.ca is a starting point for your own chart analysis. Technical analysis serves as a guidepost in your daily investment analysis and is used in conjunction with fundamental analysis. There is no magic formula for making profits when you trade online in the stock market. We are all students of the market, and one should never give up reviewing and learning the basics. Visit the Advanced Chart Settings and customize BigCharts so you can review different time periods.

______________________________

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