Category Archives: Stocks

Encana (ECA:TSX) candlestick chart analysis

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Positive reaction to earnings release for Encana
Encana candlestick chart showing the positive reaction to the earnings release and the upward movement in natural gas pricing.

Encana (ECA:TSX) Daily Candlestick Chart

The reaction of the stock price to a news event, which includes earnings releases, is all that counts. You take your cue from this market signal and trade accordingly.

The intermediate trend is sideways and the near-term trend is up. The key support and resistance levels are identified on the above chart. Technical analysis is all about evaluating the probabilities and there is a high probability that Encana has found a bottom around $17.50. A confirmed break above the $21.00 to $22.00 level would indicate an intermediate target price of $28.00. My definition of a confirmed break in this case would be $22.66 that holds for at least two days.

“Encana, with $2.4-billion (U.S.) in cash on its balance sheet today, aims to increase that number to $3-billion by year’s end.”

Reference the Encana website to review the fundamental data for the company.

Reference my last chart analysis for Encana on March 18, 2011.

Relevant article 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

Technical Analysis: Dundee REIT (D.UN:TSX)

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Support and resistance levels for Dundee REIT
A daily candlestick chart for Dundee REIT showing the support and resistance levels.

Dundee REIT (D.UN:TSX) Daily Chart

Dundee Reit has been one of my core holdings over the past two years. And I was fortunate to own a significant position in Whiterock REIT when it was acquired by Dundee. The major trend is still up for Dundee but it will have to break resistance of $37.50, the March high, to continue the uptrend. The May 3 earnings release could be the catalyst for the breakout above resistance. If not, there will be a test of the $35.00 support level.

Reference my last chart analysis for Dundee REIT which was posted on May 9, 2011.

Visit the corporate website to review 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.

© 2012 TradeOnline.ca

AvenEx Energy (AVF:TSX) chart analysis: The sell-off

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AvenEx Energy: BNN Market Call Top Pick on January 3, 2012
Chart analysis of AvenEx Energy which was a BNN Market Call Top Pick on January 3, 2012.

AvenEx Energy Six Month Candlestick Chart

On January 3, 2012; Bruce Campbell, President, Campbell & Lee Investment Management was a guest on BNN Market Call Tonight and one of his top picks was AvenEx Energy (AVF TSX). The following is his reason for recommending the stock: “Bought in Dec. at $5.17. A junior energy producer in western Canada, which is underfollowed and therefore trades at an 11 percent yield, and yet has a low payout of cash flow.”

View the insider trading activity for AvenEx Energy. No insiders were buying: they were all selling.

Reference the website for AvenEx Energy to review the fundamental data for the company and the announcement of the dividend cut.

The stock is now in the penalty box. There are better energy stocks to consider for your current investments.

Stockchase — What the experts are saying!

Update For December 21, 2012: Pace Oil & Gas, AvenEx Energy and Charger Energy to Combine and Form Intermediate Dividend Paying Corporation.

View the market reaction on the charts. That is all that counts.

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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

Precision Drilling (PD:TSX) chart analysis

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Can Precision Drilling hold the $9.50 support level?
Candlestick chart analysis for Precision Drilling as it prepares to test support at $9.50

Precision Drilling Daily Chart

Reference the last chart analysis for Precision drilling.

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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

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

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:

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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