Tag Archives: breakout

AutoCanada (ACQ:TSX) candlestick chart

It all started with the gap
A nice chart for AutoCanada showing the consolidation zone and the gap which was the start of a major uptrend.

AutoCanada Weekly Candlestick Chart

AutoCanada has raised its dividend 10 separate times since 2010.

Reference the website for AutoCanada.

______________________________

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

Whistler Blackcomb Inc. (WB:TSX) chart analysis

Breakout for Whistler Blackcomb Inc. at resistance of $11.75
Breakout on the weekly candlestick chart for Whistler Blackcomb Inc.

Whistler Blackcomb Inc. 2 Year Weekly Chart

What more can I say? Intermediate uptrend with a yield of 8.08%. Enjoy the ride and exit when the chart pattern indicates a reversal pattern. Will meet resistance at $12.75 which was the 2011 high.

Please review the fundamental data for Whistler Blackcomb Inc.

Seeking a lift from ski resort stocks – Globe Article – November 15, 2013

______________________________

Note: The above chart analysis is valid as of the publication date. To review current charts click on Home or perform a search. 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

TSX Index candlestick chart analysis

Confirmed breakout for the TSX Index above 12,500
Confirmed breakout for the TSX Index on the weekly chart.

TSX Index Chart Analysis

Reference last weeks chart analysis for the TSX Index which was also based on the weekly chart.

______________________________

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

Rogers Communications chart analysis

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:

______________________________

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

Canadian Natural Resources (CNQ) chart

Tentative breakout  on the daily candlestick chart
Daily candlestick chart for Canadian Natural Resources with volume, MACD, and OBV.

CNQ:TSX 3-Month Daily Candlestick Chart

The key points from the above candlestick chart are:

  • Tentative breakout above $44.00
  • But, the candlestick on the breakout is not a strong (tall white) candlestick.
  • And, the volume was not above average on the breakout.
  • And, the MACD is still negative.
  • And, the OBV is still negative.
  • And, the three short-term simple moving averages are all negative.
  • But, there seems to be good support at $42.00
  • So,  invest with caution and wait for the earnings release.

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

Reference the Globe and Mail article: Canaccord boosts oil forecast, upgrades energy stocks.

View a more recent analysis for CNQ showing critical support levels.

View the Home Page for current charts.

Precision Drilling breakout above $12 resistance level

Can Precision Drilling (PD) hold the new support level of $12?
Daily Candlestick chart for Precision Drilling showing the breakout above resistance at $12

Precision Drilling Daily Chart

The most important points to note in the Precision Drilling (PD) chart analysis are:

  • The major trend, intermediate trend and near-term trend are all up.
  • The 40 day moving average is a good approximation of the trend line.
  • Always trade in the direction of the trend.
  • There was a breakout above resistance of $12.
  • Major support is now $12.
  • The reversal of resistance to support is an important principle in technical analysis.
  • The breakout was on above average volume.
  • Trading volume measures the force behind the move.
  • On balance volume is confirming the upward trend.
  • The MACD confirmed the breakout.

If an online trader made a buy on the breakout at $12.50, the trader must set up a stop-loss at that time.  A reasonable stop-loss would be below support at $12.  A stop-loss of $11.87 would represent a loss of around 5% and maybe not close enough  that it would be taken out on a light test of support. Anyway, you will be around to trade another day.  Risk management is an important concept in online trading.  Preservation of capital is rule #1.

Precision Drilling is a leading provider of oilfield services.

Other stocks analyzed on this site include: Encana, SuncorRioCan, BMO, Shoppers Drug Mart, Pfizer, BCE and Patriot Coal.

Investors are seeking yield.  RioCan has been a favorite with institutional and individual Canadian investors.