Tag Archives: Bullish Candlestick

Bullish white candlestick for the TSX Index

Reference the resistance levels for the TSX Index
TSX Index chart analysis showing a bullish white candlestick with resistance at 12,500.

TSX Index Daily Candlestick Chart

Reference the last chart analysis for the TSX Index showing the support zone. It held the support zone right around the 200 day simple moving average. Today, there was movement into the energy and materials stocks which is represented by the tall white candlestick. One day does not make an uptrend and there will be heavy resistance at 12,500.

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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.

© 2013 TradeOnline.ca

Technical Analysis for Dow Jones Industrial Average

Bullish shaven head candlestick — first trading day of 2013
Bullish shaven head candlestick for the DJIA on the first trading day of 2013.

DJIA 6-Month Candlestick Chart

The tall bullish shaven head and shaven bottom candlestick is a graphical representation of the euphoria after a deal on the so-called fiscal cliff. It was excellent follow through for the bullish engulfing pattern of December 31. The market teetered at major support on December 27 and 28 when a deal was less than certain.

Technical analysis is all about assessing probabilities and there is a high probability that the Dow will test major resistance of 13,600. But there is a a lot of froth in this market as represented by the VIX and it can turn on a dime. The VIX has fallen 35.4 percent over the past two sessions, the biggest 2-day percentage drop in the history of the index. The next big news event is the employment report this Friday.

I would like to see the 10-Year U.S. Treasury close convincingly above 1.900% as confirmation that the Dow and S&P500 would have a chance to continue the near-term uptrend.

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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 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.

© 2013 TradeOnline.ca

S&P 500 candlestick chart analysis

Bullish shaven head candlestick closes above resistance
Bullish shaven head candlestick closes above resistance on the daily chart.

S&P 500 Index YTD Daily Chart

Reference the last chart analysis for the S&P 500 Index published on August 24, 2012.

Some points to ponder from the above chart:

  • Tall bullish shaven head candlestick closes above resistance.
  • Now must hold above the resistance zone.
  • The resistance zone will be the new support zone — reversal of roles concept.
  • Volume must increase to sustain the intermediate uptrend.
  • OBV is not confirming the uptrend: this is a concern.
  • RSI is confirming the intermediate uptrend.
  • If the index holds above 1,425 then the intermediate target is 1,530.

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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 S&P 500 Index

Intermediate uptrend for the S&P 500 Index
Intermediate uptrend for the S&P 500 Index.  Resistance levels identified on the daily chart.

S&P 500 Index 6 Month Daily Chart

Reference the last chart analysis for the S&P 500 Index published on June 8, 2012.

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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

PotashCorp (POT:TSX) candlestick chart

Bullish shaven head candlestick on the daily chart
PotashCorp candlestick chart analysis

PotashCorp Daily Candlestick Chart

Reference the corporate site for PotashCorp to review the fundamental data on the company.

I am not showing the volume on the above chart but it will have to increase to sustain the near-term uptrend.

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

S&P 500 Index candlestick chart analysis

Bullish Engulfing Pattern with resistance at 1,350
Candlestick chart analysis for the S&P 500 Index showing an bullish engulfing candlestick pattern with near-term resistance at 1,350

S&P 500 Index 3 Year Chart

Reference the last chart analysis for the S&P 500 Index which highlights the support levels.

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.

© 2012 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