Tag Archives: chart analysis

TSX Index chart analysis

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Back to the old trading range
TSX Index chart analysis showing the index back to the old lateral trading range.

TSX Index 1 Year Daily Bar Chart

Reference the last chart analysis for the TSX Index posted on Wednesday, July 4, 2012 when the index was trading above the lateral trading band. It was a short reprieve.

The TSX Index has not recovered from the correction that started in March, 2011.There were many technical indicators warning of that correction. Did you recognize the warning signals? I published a number of charts highlighting the warning signals. Did you heed the warnings by liquidating longs, moving into defensive sectors or by shorting the index? The following are some samples from the posts:

Posted March 13, 2011: TSX at an advanced stage in this intermediate swing.

Posted September 26, 2011:There were many early indicators for the 19.6% correction in the TSX Index.

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 with other technical indicators. 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 of copper

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Copper maintains the lateral trading band
Copper chart analysis showing the lateral trading band.

One Year Chart of Copper

Reference the last chart analysis for copper.

View Kitco for updated charts and other time periods.

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.

© 2012 TradeOnline.ca

TSX Index candlestick chart analysis

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TSX continues to hold the 12,000 support level
TSX Index candlestick chart analysis showing the support level of 12,000

TSX Index Weekly Chart

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).

Reference the last chart analysis for the TSX Index.

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.

© 2012 TradeOnline.ca

TSX Index chart analysis: Negative technical profile

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Near-term trend for the TSX Index is down.
TSX Index chart analysis showing support and resistance levels. The RSI has moved below 50. Negative technical profile for the Canadian market.

TSX Index Three Year Weekly Chart

Reference the last chart analysis for the TSX Index based on the daily chart and the last chart analysis based on the weekly chart.

Key points from the above chart:

  • TSX Index has a negative technical profile
  • Moved below the 200 day simple moving average
  • Near-term trend is down
  • RSI moved below 50 which is the midpoint on a scale

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.

© 2012 TradeOnline.ca

AvenEx Energy (AVF:TSX) chart analysis: The sell-off

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AvenEx Energy: BNN Market Call Top Pick on January 3, 2012
Chart analysis of AvenEx Energy which was a BNN Market Call Top Pick on January 3, 2012.

AvenEx Energy Six Month Candlestick Chart

On January 3, 2012; Bruce Campbell, President, Campbell & Lee Investment Management was a guest on BNN Market Call Tonight and one of his top picks was AvenEx Energy (AVF TSX). The following is his reason for recommending the stock: “Bought in Dec. at $5.17. A junior energy producer in western Canada, which is underfollowed and therefore trades at an 11 percent yield, and yet has a low payout of cash flow.”

View the insider trading activity for AvenEx Energy. No insiders were buying: they were all selling.

Reference the website for AvenEx Energy to review the fundamental data for the company and the announcement of the dividend cut.

The stock is now in the penalty box. There are better energy stocks to consider for your current investments.

Stockchase — What the experts are saying!

Update For December 21, 2012: Pace Oil & Gas, AvenEx Energy and Charger Energy to Combine and Form Intermediate Dividend Paying Corporation.

View the market reaction on the charts. That is all that counts.

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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

Copper chart analysis: A visit to the doctor

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Copper trading in an intermediate lateral band
Copper chart analysis showing the lateral trading band with support and resistance levels.

One Year Copper Chart

Always make regular visits to Dr. Copper for his opinion on the overall health of the world economy. Right now, the Doctor is still evaluating the relatively negative economic data out of China. Maybe the upcoming earnings season will shed some extra light on the demand for base metals in China. Economic reports can be misleading but the top line of a company cannot be easily manipulated.

I have set my alerts as per the above chart and a breakout to the upside or downside will be a major signal for the resource based economies: Canada, Australia, Brazil and Russia.

Reference the last chart analysis for copper: still in the same lateral trading band.

View Kitco for updated charts and other time periods.

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.

© 2012 TradeOnline.ca

Technical Analysis: TSX Index candlestick chart

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TSX Index in a consolidation range

TSX Index candlestick chart analysis showing a consolidation range

TSX Index Weekly Chart

The following are the key points from the above chart analysis:

  • The near-term trend is sideways.
  • Trading in a consolidation range.
  • Support is 12,000.
  • Resistance is 12,500.
  • Reference the Oct 3 post regarding major support of 11,000.
  • I explained the double top reversal pattern in the June 18 post.
  • Another post explaining the double top reversal pattern on May 6.
  • The April 24 post warned of the double top.
  • The possibility of a double top was raised in the April 14 post.

What is a reasonable trading strategy at this point in the market?

The TSX Index is trading in a near-term consolidation range as indicated on the chart. A neutral trading strategy with an above average cash position would be appropriate. A confirmed break (+2% for two days) above the 12,500 resistance level would be a reason to add cautiously to long positions. A confirmed break below support of 12,000 would be a reason to liquidate longs.

Past posts for the TSX Index provide continuity in the analysis:

Reference the last chart analysis dated Nov 4 for the TSX Index. This chart identified the harami cross candlestick pattern with a tweezers top. You can also review the TSX Index Category for a sequential listing of charts.

The following current articles are picks from the web:

Financial Post article dated Nov 12, 2011: Does anyone really want us to be financially savvy?

Financial Post article dated Nov 11, 2011: Mr. Market’s mood is picking up

Financial Post article dated Nov 11, 2011: Ride volatility with managed futures

Financial Post article dated Nov17, 2011: Run from debt to cash sparks sell off

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The main purpose of TradeOnline.ca is a starting point for your own chart analysis. Technical analysis serves as a guidepost in your daily investment analysis and is used in conjunction with fundamental analysis. There is no magic formula for making profits when you trade online in the stock market. We are all students of the market, and one should never give up reviewing and learning the basics. Visit the Advanced Chart Settings and customize BigCharts so you can review different time periods.

______________________________

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

TSX Index candlestick chart analysis

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Harami Cross on the weekly chart of the TSX Index

Candlestick chart analysis for the TSX Index on the weekly chart showing a harami cross and a tweezers top.

TSX Index Weekly Chart

The intermediate trend is down and the near-term trend is sideways.

Reference the last chart analysis for the index.

MarketWatch: Canadian stocks hesitate on Italy concerns

The main purpose of TradeOnline.ca is a starting point for your own chart analysis. Technical analysis serves as a guidepost in your daily investment analysis and is used in conjunction with fundamental analysis. There is no magic formula for making profits when you trade online in the stock market. We are all students of the market, and one should never give up reviewing and learning the basics. Visit the Advanced Chart Settings and customize BigCharts so you can review different time periods.

Please leave a comment to suggest a stock or index for analysis on this site.

______________________________

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