Tag Archives: major support

TSX Index candlestick chart analysis

Leave a reply

TSX Index closed below support of 12,000

candlestick chart analysis for the tsx index showing the bearish candlestick pattern with a shaven bottom and the new resistance level of 12,000

TSX Index Candlestick Chart

The intermediate trend is down for the index: cash is king.

The reversal of roles from support to resistance or resistance to support is an important concept in technical analysis. In the above chart, I highlighted a real time example where 12,000 was support on the chart analysis last week. It is now the resistance level for the TSX Index: at least for now.

Reference last weeks chandlestick chart analysis based on the weekly chart.

Financial Post article dated Nov 21, 2011: What you need to know before markets open

______________________________

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

Leave a reply

TSX Index in a lateral trading band

TSX Index candlestick chart analysis showing the support and resistance levels. The relative strength indicator (RSI) is below 50 and trending down.

TSX Index Weekly Candlestick chart

Reference the last chart analysis for the TSX Index.

Interesting Financial Post article dated Oct 12, 2011: Energy stocks ‘discounting armageddon’

______________________________

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

Teck Resources (TCK.B:TSX) chart analysis

Leave a reply
Is $30.00 the bottom for Teck Resources?
Candlestick chart analysis for Teck Resources showing major support

Teck Resources (TCK.B:TSX) Three-Year Weekly

 

Teck Resources daily candlestick chart showing a bullish engulfing pattern with above average volume

Teck Resources Daily Chart

The above weekly candlestick chart chart shows the major support level of $30.00 which appears to be holding.

The candlestick chart to the right shows the bullish engulfing pattern on a snippett from the daily chart. This pattern, especially with above average volume, is an early indicator that the downtrend has ended. And there was a positive follow-through on the chart today (Oct 5).

Reference the Teck Resources website for the quarterly reports.

Reference the current charts for copper.

Reference Globe article dated Sept 23, 2011: Teck to spend $685-million on B.C. operations

Reference Globe article dated Sept 23, 2011: Crumbling coal demand signals slowing Asian economy

Reference Globe article dated Sept 21, 2011: Rio Tinto warning rocks commodity stocks

Reference Globe article dated Nov 8, 2011: Financing for junior mining feels the pinch

Reference Globe article dated Nov 8, 2011: Teck keen to put its cash to work

______________________________

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

Technical analysis for the TSX index

Leave a reply

Critical support levels for the TSX Index

Technical analysis for the TSX Index using a three year candlestick chart highlighting major support and resistance levels

TSX Index Three-Year Weekly Candlestick Chart

The support level of 11,000 to 10,900 is based on a Fibonacci Retracement of 50% of the move from the March, 2009 low of 7500 to the April, 2011 high of 14,300. And it is also near the July, 2010 low of 11,065. This is a major support level!

The final support level of 10,000 is based on a Fibonacci Retracement of 61.8% of the move from the March, 2009 low of 7500 to the April, 2011 high of 14,300.

Please reference the previous chart analysis for the TSX Index.

______________________________

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 – TSX Index

Leave a reply
Harami Pattern for the TSX Index
Harami candlestick pattern on the weekly chart of the TSX index indicates the TSX could ease into a congestion band between support of 12,000 and resistance of 12,500

Three-Year Weekly Chart for the TSX Index

We may have a bottom in the recent sell-off but the intermediate trend is still down. Cash is king in this market.

Reference the previous analysis of the TSX Index for the downside risk if the index cannot hold the 12,000 and 11,500 support levels.

______________________________

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.

Will the TSX index hold major support?

Leave a reply

Still an ominous chart pattern for the TSX index

Six month daily chart of the tsx index showing a double top with major support and resistance, and confirming indicators of MACD, volume and OBV

Six-Month Daily Chart of the TSX Index

Reference the previous analysis of the TSX Index.

Reference my chart settings for Bigcharts and practice using candlesticks with the confirming indicators.

Update for June 11, 2011: TSX index did not hold major support.  Time to reference the previous weekly chart analysis for the TSX which highlights the downside risk.  Obviously, a relatively high cash position—above 50%—is prudent at this stage in the market.

If the U.S. economy doesn’t rebound solidly, if the European debt crisis worsens, or if China, India or Brazil hits a more-serious speed bump, it will come as a nasty shock to a lot of people, and could send stocks down a lot lower.

Read more………… Dow’s Sixth Straight Down Week Fuels Concern Over More Severe Declines Ahead – WSJ

______________________________

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.