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.
TSX Index still has a negative technical profile: nothing new in this statement. The intermediate trend is down and the near-term trend is down. The index closed below the support level of 12,000 which is now the resistance level. The above candlestick chart is a graphical representation of the negative sentiment plaguing the index. A picture is worth thousand words.
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.
Still a negative technical profile for the TSX Index. Can anyone show me one positive attribute on this chart? Yes, it continues to hold 12,000.
One glimmer of hope for the TSX is that the energy stocks, as measured by the broad-based ETF (XEG:TSX), may have a bottom. XEG found support at $15.50 and is in a near-term uptrend but the major trend is still down. Trade according to the market signals.
On another subject related to the TSX Index, the downward spiral in natural gas seems to have stopped. Zero was in sight. But, a lot of investors were burnt with this commodity. Play natural gas cautiously and have predetermined exit points. A conservative play on natural gas is Encana (ECA:TSX), a direct play on the commodity is the U.S. Natural Gas Fund (UNG), and a leveraged play for the aggressive investor is Horizons BetaPro (HNU:TSX).
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.
What more can I say to describe the above chart: the TSX Index has a negative technical profile. It is the worst performing index outside of France. Yes, it has been a real dog last year and so far this year.
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.
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.
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.
The TSX Index is still trading in a lateral band between 12,300 and 12,600. The Relative Strength Index (RSI) has a negative technical profile. The YTD gain of 3.7% pales in comparison to the 12.0% gain for the S&P500.
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.
Yes, the TSX Index has a negative technical profile. The intermediate trend is sideways as identified on the above daily candlestick chart. A confirmed break below 12,300 would be a warning to liquidate long positions.
Think about the major sectors in the TSX Index. The materials sector has a negative technical profile. The energy sector has a negative technical profile. Investors are taking money out of the hot REIT sector as rates slowly rise and on the news of subpar Canadian economic indicators. And the utilities are priced to perfection. And the two major telecos — BCE and Telus — had a nice run and are also priced to perfection. What is left? Some bank stocks like RBC moved upward over the past four months and the Lifecos are coming back from the dead but are still on life support.
Caution is advised especially with the news coming out of China about the actual or perceived slowdown.
Reference the last chart analysis of the TSX Index based on the weekly chart. This is a three year chart with the the 50 day, 100 day and 200 day simple moving averages. The TSX Index is holding just above the 200 day moving average. You will see the golden cross (50 day crossed above the 200 day) on this longer term chart but the the cross is a little tarnished at this stage.
Notice the similarities with the daily chart for copper? Yes, we are a resource based economy.
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.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok
