Category Archives: Stocks

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:

 ______________________________

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

RBC (RY:TSX) candlestick chart analysis

Near-term uptrend for RBC: Can it break $52.00?
Candlestick chart analysis for the royal Bank of Canada showing the near-term uptrend and major resistance athe the 200-day SMA

RBC Three Year Chart

Chart for the Royal Bank of Canada shows the near-term uptrend with resistance at the 200-day simple moving average of $52.00. If the stock can break and hold above $52.00 for two days, this point will become the new support level. The reversal of roles from resistance to support or support to resistance is an important concept in technical analysis.

Please review my recent charts 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

BCE (BCE:TSX) chart analysis

Chart for BCE tells the story: Trade in the direction of the trend
BCE candlestick chart analysis showing a major uptrend, a intermediate uptrend and an near-term uptrend.  On balance volume is confirming the uptrend along with volume and RSI.

BCE (BCE:TSX) Weekly chart

The #1 rule of technical analysis is to always trade in the direction of the trend. And the chart for BCE is a good example why this is a profitable strategy: Just jump aboard the train and enjoy the ride.

Reference the last chart analysis for BCE posted on May 13, 2011.

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