Tag Archives: Bullish Candlestick

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:

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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

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:

Dundee REIT (D.UN:TSX) candlestick chart analysis

Dundee Real Estate Investment Trust in an uptrend
Technical analysis of Dundee REIT using the 3-year candlestick weekly chart showing the stock in an uptrend

Dundee REIT (D.UN:TSX) Three-Year Weekly Chart

Reference the previous chart analysis for Dundee REIT.

Update July 21, 2011: Dundee grabs office buildings

Update January 24, 2012: ScotiaPlaza sale should provide boost to REITs

Johnson & Johnson (JNJ) candlestick chart

Positive reaction to the earnings release for Johnson & Johnson
Candlestick chart with technical indicators confirming a positive reaction to the first-quarter results for 2011

J&J 6-Month Daily Candlestick Chart

The key points from the above chart are:

  • Positive reaction to the first-quarter results.
  • There was above-average volume on the breakout above $61.00.
  • A window which is a continuation pattern appeared on the candlestick chart.
  • The window will act as support on any pullback.
  • If the window is closed, it will nullify the near-term uptrend.
  • The MACD is confirming the near-term uptrend.
  • The 10-day moving average is confirming the uptrend.
  • The 20-day moving average is confirming the uptrend.
  • The near-term target is $65.00
  • Support is $61.00 if the window is closed.

You can input the advanced chart settings for BigCharts and view the 3-year chart for JNJ.

Reference the Johnson & Johnson website for the fundamental data on the company.  Reference Fox Business for a profile of Johnson & Johnson (JNJ).

Beyond the cliff, dividends, M&A beckon for big pharma is a recent article from the Financial Post.

April 27, 2011 update: Johnson & Johnson is to buy Swiss medical devices maker Synthes Incfor 19 billion Swiss francs (US$21.59 billion) in its largest ever buy, boosting its surgical business and reshaping the wider industry.

May 27, 2011 update: J&J Now the “Best Biotech Play”, Says Goldman

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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.

Precision Drilling (PD:TSX) – Weekly Chart

Precision Drilling (PD:TSX) moving up on above average volume
Precision Drilling (PD:TSX) two-year weekly candlestick chart showing above average volume associated with the bullish white candlesticks.  The 50-day simple moving average defines the uptrend.

Precision Drilling (PD:TSX) 2-Year Weekly Candlestick Chart

Reference the previous post for Precision Drilling based on the  daily chart.

Other stocks featured on tradeonline.ca include: Dundee REIT, Encana, Suncor, RioCan REIT, BMO, Shoppers Drug Mart, Pfizer, BCE, and Patriot Coal.

Can Encana break resistance at $36?

Bullish white candlestick on the weekly chart for Encana.
Bullish candlestick chart for EnCana showing major support at $28 and major resistance at $36

Encana Weekly Chart for March 18, 2011

The most important points on the Encana weekly chart are:

  1. The major trend and intermediate trend are both sideways.
  2. The near-term trend (less than three weeks) is up.
  3. Major support is $28: liquidate longs if Encana breaks support.
  4. Major resistance is $36: add to long positions if Encana breaks resistance.
  5. Above average volume on the bullish white candlestick.

To trade online, you need a grasp of both technical and fundamental data. Natural gas the next ‘green hope written by Gwyn Morgan is an excellent article.  After months of quiet negotiation, energy giant Encana Corp has agreed to buy a minority stake in a natural gas export project that is positioned to redraw Canada’s energy map.

Encana in the largest natural gas producer in Canada. Visit the Encana website to research the fundamental data on the company.

Some of the other Canadian stocks  featured on this site include:  Suncor, Precision Drilling, RioCan, BMO, Shoppers Drug Mart and  BCE .

Shoppers Drug Mart (SC) breaks resistance at $40

Shoppers Drug Mart breaks technical resistance at $40 on this candlestick chart.

TradeOnline.ca featured Shoppers on February 6 and highlighted the first bullish white candlestick  that developed on above average volume. Above average volume is a confirming indicator and is the fuel that drives the upward trend. The $40 level is now support and the stock must hold above this point for the trend to continue.

Technical Analysis: Shoppers Drug Mart - candlestick chart - a bullish white candlestick breaks resistance at $40 on Monday, February 14, 2011

Shoppers Drug Mart (SC) 6-Month Daily

Shoppers Drug Mart will meet heavy resistance at $42. You can identify this point on the 3-year weekly chart.

Shoppers was upgraded from hold to buy on February 11 and the price target was raised to $43 from $39.

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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.

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