Category Archives: Stocks

Canadian Natural Resources (CNQ) chart analysis

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Critical retracement level for (TSX:CNQ)

Candlestick chart analysis for Canadian Natural Resources showing the critical retracement level of 66%

(CNQ:TSX) Daily Chart

Key points from the chart:

  • Intermediate trend is down.
  • Near-term trend is down.
  • Critical support is $38.00.
  • If it does not hold $38.00, CNQ could retrace the whole prior move to $32.00.

Reference the updated chart analysis for CNQ published on November 4, 2011.

Reference the previous analysis for CNQ.

Reference the website for Canadian Natural Resources to review the fundamental data.

 

RioCan REIT (TSX:REI.UN) technical analysis

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The major trend is up for RioCan REIT

Candlestick chart analysis for RioCan REIT showing the major trendline and the relative strength indicator (RSI)

RioCan REIT (REI.UN) Three-Year Weekly Candlestick Chart

Reference my previous chart analysis for RioCan REIT.

Relevant articles picked from the Web:

Globe and Mail : Target’s store picks a bullseye for RioCan REIT: TD

Financial Post: Depressed U.S. commercial property prices good news for REITs

Financial Post. Oct 5, 2011: Rental income, tax breaks give REITs stability

Globe and Mail, Oct 6, 2011: What the FFO? How to gauge a REIT’s profits

Globe and Mail, Nov 7, 2011: RioCan triples third quarter profit on acquisitions

Globe and Mail, Jan 9, 2012: A REIT ripe for investors

Financial Post, Jan 13, 2012: Canadian REITs are poised for more dougle digit gains over the next twelve months

Financial Post, Jan 13, 2012: 10 rules for investing in REITs

Retrocom REIT (TSX:RMM.UN) candlestick chart analysis

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This mid-market REIT still yields 7.5%

Retrocom reit three-year candlestick chart analysis showing support and resistance with the highlighted consolidation area

Retrocom REIT (RMM.UN) 3-Year Weekly Chart

Always trade in the the direction of the trend:

  • The major trend (greater than six months) is up.
  • The intermediate trend (three weeks to three months) is sideways.
  • The near-term trend (less than three weeks) is sideways.

Reference this Globe and Mail article:  How a real estate analyst’s picks left peers in the dust
Another article: Retrocom: A small REIT with big-growth potential

Retrocom Mid-Market REIT (TSX: RMM.UN) is an Ontario unincorporated open-end real estate investment trust which focuses on owning and acquiring community-based properties in primary and secondary cities across Canada with the objective of producing a geographically diversified portfolio of properties with stable and growing cash flows.

Review my previous analysis of  Riocan REIT

Review my previous chart analysis of Dundee REIT

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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.

Rogers Communications chart analysis

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Breakout for Rogers (RCI.B:TSX) at $36 on the candlestick chart
Candlestick chart for Rogers (RCI.B:TSX) showing the breakout at $36 and confirming indicators of volume, obv and RSI

Rogers (RCI.B:TSX) Six-Month Candlestick Chart

What are the key points on the chart for Rogers?

  • Breakout at $36 which was a resistance level.
  • Bullish white candlesticks which closed near the high for each day.
  • The stock price is above the three simple moving averages — 10-Day, 20-Day and 40-Day.
  • Volume is increasing with the uptrend.
  • OBV is confirming the uptrend.
  • RSI is confirming the uptrend

Reference the fundamentals for Rogers.  Also, reference the previous analysis for a competitor: BCE.

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

Candlestick chart analysis for BCE

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What was the reaction on the chart to the earnings release for BCE?
BCE chart analysis based on the daily chart showing the reaction to the earnings release with confirming indicators of volume, OBV and RSI.

BCE Daily Candlestick Chart

It is very important to evaluate the reaction on the chart to a earnings release or company announcement: this is the only thing that counts.

What are the key points on the above chart?

  • Tall bullish white candlestick in reaction to the results.
  • Above average volume for the candlestick is confirming the uptrend.
  • On Balance Volume (OBV) is confirming the move.
  • Relative Strength Index (RSI) is confirming the move.
  • RSI is overbought but this is normal on a fast upward move.
  • $38.00 is near-term resistance

Based on the chart, I have an intermediate target of $40.00 for BCE. Investors are moving money into stable dividend paying utilities, and BCE has a very attractive yield.

Reference the previous chart analysis for BCE based on the daily chart. And reference the previous analysis based on the weekly chart.

View the quarterly results for BCE.

Relevant articles from the web:

BCE analysis based on the daily candlestick chart

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Two shaven head candlesticks bode well for the uptrend
BCE daily candlestick analysis showing two shaven head candlesticks with confirming indicaors of volume, OBV and MACD

BCE Six-Month Daily Candlestick Chart Analysis

Updated BCE chart analysis published August 3, 2012

Some key points from the above daily chart are:

  • A bullish shaven head (closes on the high) candlestick has closed above resistance of $36.75.
  • The near-term trend is up as indicated by the two bullish candlesticks.
  • On Balance Volume (OBV) is confirming the near-term uptrend.
  • The MACD is confirming the near-term uptrend.
  • Volume is ok but a little light for the two bullish candlesticks.

I use the above analysis as one of the inputs for a derivative trading strategy. Derivatives will not be reviewed in this post.

Reference the previous analysis of BCE based on the weekly chart.

BCE  will release quarterly results on Thursday, May 12, 2011.  It is important to monitor the reaction on the chart to these results.

Update May 12, 2011:  Here are the results.  Now you have to monitor the reaction on the charts.

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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