It all started with the gap
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.
Two breakaway gaps on the candlestick chart for RBC
RBC Six-Month Daily Candlestick Chart Analysis
Reference two previous charts for RBC:
Key points from the above chart analysis are:
- The intermediate trend (three weeks to six months) is still down.
- The near-term trend (less than three weeks) is up.
- RBC is trading above the three simple moving averages.
- The 10-day SMA is crossing the 20-day SMA.
- Volume is increasing with the near-term uptrend.
- RSI is confirming the near-term uptrend.
- Two breakaway gaps bode well for the uptrend.
- The last gap (window) should provide support ($48) on any pullback.
- The near-term resistance level is around $50.00.
- You must take into account the trend for the overall market – TSX Index.
- The intermediate trend for the TSX Index is down.
When you trade the markets, you are dealing with probabilities. What is the probability of the the near-term uptrend continuing for RBC?
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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.
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