Author Archives: Trader

US Bond 10-year yield candlestick chart

Support and resistance levels
Candlestick chart analysis of the US 10 year treasury note yield showing support and resistance levels

US 10 Year Treasury Note Yield

The intermediate trend is down and the near-term trend is up.

At this stage in the market, there is a direct correlation between the the major stock indexes and the 10-year treasury yield. Bearish sentiment is reflected in falling yields as investors move into the relative safety of government bonds.

Reference the last analysis for the US Bond 10 year yield.

Relevant article picked from the Web:

What is the bond market telling us? — Financial Post — Jan 12, 2012

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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

Chart analysis for copper

$3.00 is a key support level for copper

Five year copper chart showing major support at around the $3.00 level

5 Year Copper Chart

Based on this chart for data up to Oct 20, 2011; copper has a negative technical profile. The intermediate trend is down with major support around the $3.00 level.

View my recent chart analysis for Teck Resources.

View Kitco for updated charts and other time periods.

Current articles pertaining to commodities:

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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 showing the trendlines

Can the TSX Index break the downward sloping trendline?

Chart analysis of the TSX Index showing the trendlines over the past year

TSX Index Daily Chart

The TSX Index has a negative technical profile. The intermediate trend is down and the index trades below the 50-day, 100-day and 200-day simple moving averages. And, the 50-day moving average is below the 100-day and 200-day moving averages. And, the TSX Index trades below the downward sloping trendline. Also, the RSI is trending down and is below 50. Resistance is at the 12,000 level with current support for the lateral band at 11,500. Major support is at the 11,000 level.

Reference my last chart analysis for the TSX Index based on the weekly chart.

The following are some current 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

Precision Drilling (PD:TSX) chart analysis

Can Precision Drilling maintain the near-term uptrend?
Candlestick chart analysis for Precision Drilling (PD:TSX) showing the near-term uptrend  with support and resistance levels.

Precision Drilling Candlestick chart

Reference the last chart analysis for Precision Drilling.

Precision Drilling Corporation (“Precision”) intends to release its 2011 third quarter results
before the market opens on Friday, October 21, 2011 and has scheduled a conference call and
webcast to begin promptly at 12:00 Noon MT (2:00 p.m. ET) on the same day.

FP article dated Oct 21, 2011: Precision Drilling earnings surge 48%

Update Friday, Oct 21, 2011: Stock sold-off to the $11.00 level as indicated by a bearish engulfing pattern on the daily chart: sold into the news of the earnings release. Traders who bought the stock at the beginning of the month took profits on the gain from $8.00 to $12.00: a nice profit of 50%.

Update Monday, Oct 24, 2011: Precision Drilling closed at $11.87 today.  The stock pattern may indicate that it will ease into a lateral band between $11.00 and $12.00.  A close above the $12.00 resistance level for two days would be a sign to add to long positions with an intermediate target of $15.00.  If the stock cannot hold the $11.00 level, it would be a sign to liquidate longs.

Update Monday, Oct 31, 2011: Precision Drilling closed at $11.56 today. A tall bearish candlestick (daily candlestick chart) after two spinning tops is not a good omen. Another negative factor is the above average volume today on the sell-off. If the stock cannot hold support at $11.00, the next major test would be the 50% retracement level of around $10.00.

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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 lateral trading band

TSX Index candlestick chart analysis showing the support and resistance levels.  The relative strength indicator (RSI) is below 50 and trending down.

TSX Index Weekly Candlestick chart

Reference the last chart analysis for the TSX Index.

Interesting Financial Post article dated Oct 12, 2011: Energy stocks ‘discounting armageddon’

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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 the S&P 500 Index

S&P 500 Index in a lateral trading band
Candlestick chart for the S&P 500 index showing support and resistance levels.  The index is trading in a lateral tranding band.

S&P 500 Index Weekly Candlestick Chart

Reference the last candlestick chart analysis for the S&P 500 Index.

Have you tried the advanced chart settings for BigCharts?

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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

Teck Resources (TCK.B:TSX) chart analysis

Is $30.00 the bottom for Teck Resources?
Candlestick chart analysis for Teck Resources showing major support

Teck Resources (TCK.B:TSX) Three-Year Weekly

 

Teck Resources daily candlestick chart showing a bullish engulfing pattern with above average volume

Teck Resources Daily Chart

The above weekly candlestick chart chart shows the major support level of $30.00 which appears to be holding.

The candlestick chart to the right shows the bullish engulfing pattern on a snippett from the daily chart. This pattern, especially with above average volume, is an early indicator that the downtrend has ended. And there was a positive follow-through on the chart today (Oct 5).

Reference the Teck Resources website for the quarterly reports.

Reference the current charts for copper.

Reference Globe article dated Sept 23, 2011: Teck to spend $685-million on B.C. operations

Reference Globe article dated Sept 23, 2011: Crumbling coal demand signals slowing Asian economy

Reference Globe article dated Sept 21, 2011: Rio Tinto warning rocks commodity stocks

Reference Globe article dated Nov 8, 2011: Financing for junior mining feels the pinch

Reference Globe article dated Nov 8, 2011: Teck keen to put its cash to work

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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 for the TSX index

Critical support levels for the TSX Index

Technical analysis for the TSX Index using a three year candlestick chart highlighting major support and resistance levels

TSX Index Three-Year Weekly Candlestick Chart

The support level of 11,000 to 10,900 is based on a Fibonacci Retracement of 50% of the move from the March, 2009 low of 7500 to the April, 2011 high of 14,300. And it is also near the July, 2010 low of 11,065. This is a major support level!

The final support level of 10,000 is based on a Fibonacci Retracement of 61.8% of the move from the March, 2009 low of 7500 to the April, 2011 high of 14,300.

Please reference the previous chart analysis for the TSX Index.

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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