There is some support around $45 but the near-term downtrend will test major support around $43
West Texas Intermediate 8-Month Daily Chart
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West texas Intermediate plunges 4.81% through $47 support
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Author Archives: Trader
TSX Index will test support around 15,300
TSX Index down 146 points today with oil, metals and gold leading the plunge.
TSX Index 8-Month Daily Chart
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“Technical Analysis is about putting the probabilities on your side.”
Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2017 TradeOnline.ca
Shopify (Shop) chart showing the intermediate uptrend
I featured Shopify at $26.82 on March 8, 2016. Now at $75.95
Shopify Daily Candlestick Chart
Reference my post from March 8, 2016 when it was trading for $26.82: “Shopify upgraded with a $35 price target. Breakout at $24. Near-term uptrend and momentum indicators confirming the move.”
Update May 2, 2017: Shopify reports first quarter results – Revenue +75%
Update May 3, 2017, Financial Post article: Why investors should stick with the ‘hot hand’ that is Shopify Inc.
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“Technical Analysis is about putting the probabilities on your side.”
Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2017 TradeOnline.ca
Adjusted or unadjusted charts in stockcharts.com?
Stockcharts.com displays adjusted charts as a default. The data is adjusted by adding dividends back into the stock price. When a company pays a relatively high dividend, this has a dramatic impact on the weekly chart. It is my opinion that unadjusted charts should be used in technical analysis. The following three-year weekly charts for Dream Office REIT highlight the impact of using adjusted charts. What chart would you use for your chart analysis? Or, does it matter?
Dream Office REIT 3-Year Weekly adjusted chart
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The following chart uses unadjusted data and this is the chart I would use for my technical analysis
Dream Office REIT 3-Year weekly unadjusted Chart
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“Technical Analysis is about putting the probabilities on your side.”
Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2017 TradeOnline.ca
Transcontinental chart showing the major uptrend
Transcontinental 4-Year Weekly Chart Based on the Elder Impulse System
http://tctranscontinental.com/
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“Technical Analysis is about putting the probabilities on your side.”
Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2017 TradeOnline.ca
Breakout for Metro (MRU.TO) after quarterly release
Metro 10-month daily chart showing the breakout after the quarterly release. Metro will test major resistance at 48. RSI and MACD are confirming the intermediate uptrend and near-term uptrend.
Metro (MRU.TO) 10-Month Daily Chart
Sales in the second quarter of 2017 reached $2,902.4 million, up 0.7% compared to $2,882.0 million in the second quarter of 2016. Same-store sales were up 0.3% (5.0% in the same quarter last year). Our food basket experienced more deflation than in the previous quarter, at about 2.0% (inflation of 3.0% last year), which largely explains our modest sales growth.
We realized net earnings of $132.4 million in the second quarter of 2017, an increase of 6.0% from $124.9 million for the corresponding quarter of 2016, and fully diluted net earnings per share of $0.56 versus $0.51 in 2016, an increase of 9.8%. Read more of the report………..
Metro Inc’s surging profit beats expectations as cost controls pay off. Link to the article.
http://corpo.metro.ca/en/investor-relations.html
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“Technical Analysis is about putting the probabilities on your side.”
Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2017 TradeOnline.ca
Canadian dollar testing support again at $0.7400
Major trend is down with plenty of headwinds
Canadian Dollar 7-Month Daily Chart
Reference the last chart analysis for the Canadian dollar when it had a little tailwind.
______________________________
“Technical Analysis is about putting the probabilities on your side.”
Note:This technical analysis is for educational purposes. Please conduct your own analysis or consult a financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stocks or indexes.
© 2017 TradeOnline.ca
Is the S&P 500 Index overvalued based on historical metrics?
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