Tag Archives: major trend

Dow Jones Industrial Average candlestick chart

DOW could not hold the Monday breakout
Dow Jones Industrial Average could not hold above the breakout level.

Dow Jones Industrial Index Daily Chart courtesy of StockCharts.com

Reference my post on Monday when the Dow Jones Industrial Index broke above major resistance to an all-time high.  At that time, I penciled in the new support level of 16,600. The important point from the above chart is that the breakout failed to hold and this was a significant breakout. The 16,600 level is back again to the resistance point and support is around the 50-day simple moving average of 16,400. Caution is advised as the near-term uptrend is over and taking some money off the table maybe prudent at this point. But, and there is always a but, the major uptrend is still in effect for the Dow as approximated by the 200-day simple moving average.

Dow Jones Industrial Average

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“Keep it Simple”

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.

CN chart anlaysis

A picture-perfect chart for CN
A 5-year chart for CN showing the major uptrend as approximated by the 200 day moving average.

CN 5-Year Logarithmic Chart

When did you board the train for this ride? In most cases, the simple rules make the most profit and are the easiest to trade. Buy when the stock crosses above the 200-day moving average. Or buy when the 50-day moving average crosses above the 200-day. Sell when the stock crosses below the 200-day or the 50-day crosses below below the 200-day. Add a filter so you don’t get whipsawed. You have your trading rules. It can be even programmed as a simple algorithm and let your computer make the trades. It doesn’t get any simpler than that!

CN released the Quarterly Results today.

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“Keep it simpe.”

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.

© 2014 TradeOnline.ca

Copper 1-year daily bar chart

Copper near-term uptrend and resistance zone
Copper chart showing the near-term uptrend and the resistance zone.

Copper 1-Year Daily Bar Chart courtesy of StockCharts.com

The major trend is down, the intermediate trend is sideways and the near-term trend is up. I am focusing on the near-term trend (last three weeks) in this analysis. The near-term trend is up and the resistance zone is identified on the above chart. A break above the resistance zone would indicate a target of $3.80. The price of copper is a good proxy for the growth in the world economy:in particular for China. A breakout above the resistance zone would bode well for the TSX Index which has a relatively large weighting in base metal stocks. A failure for copper to breakout above the resistance zone would indicate that the TSX Index will not breakout above the 13,500 resistance level.

Reference the last chart analysis for copper based on the weekly chart.

Reference the last chart analysis for the TSX Index.

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“It is not when you buy that counts, it is when you sell”

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

BCE (BCE:TSX) chart analysis

Chart for BCE tells the story: Trade in the direction of the trend
BCE candlestick chart analysis showing a major uptrend, a intermediate uptrend and an near-term uptrend.  On balance volume is confirming the uptrend along with volume and RSI.

BCE (BCE:TSX) Weekly chart

The #1 rule of technical analysis is to always trade in the direction of the trend. And the chart for BCE is a good example why this is a profitable strategy: Just jump aboard the train and enjoy the ride.

Reference the last chart analysis for BCE posted on May 13, 2011.

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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.

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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