Tag Archives: OBV

TSX Index daily chart analysis

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Negative technical profile for the TSX with support at 14,400
Daily chart for the TSX Index showing the near-term downtrend and support at 14,400

TSX Index Daily Chart

Reference the last chart analysis for the TSX Index.

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“It is all about probabilities”

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

TSX Index chart analysis

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Can the TSX Index hold above major resistance of 15000?
TSX Index daily chart showing the tentative break above major resistance of 15000.

TSX Index 6-Month Daily Chart Courtesy of StockCharts.com

Reference the candlestick chart published on October 16 showing the hammer on the weekly chart and the bullish engulfing pattern on the daily chart which indicated the bottom for the TSX Index.

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View from the weekly chart for the TSX Index
TSX Index weekly chart showing the breakout above 15000.

TSX Index 3-Year Weekly Chart

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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.

Dow Jones Industrial Average

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Reaction to the ECB rate cut!
Dow Jones Industrial Average daily chart showing the reaction to the ECB rate cut.

Dow Jones Industrial Average Daily Chart

Acting in a more sweeping fashion than most investors anticipated, the European Central Bank yesterday cut interest rates to unprecedented lows …………………..

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“Always trade in the direction of the major trend”

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.

Encana 5-Year logarithmic chart

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Canadian energy stocks continues to breakout to new highs
Encana continues to breakout to new highs.

Encana 5-Year Weekly Chart

Reference the last chart analysis for the Canadian oil sector.

Reference the sector analysis for the TSX Index.

Reference the fundamentals for Encana.

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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.

© 2014 TradeOnline.ca

Alcoa (AA) logarithmic chart

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Intermediate uptrend for Alcoa with resistance at $11.00
Weekly chart for Alcoa showing the intermediate uptrend with resistance at $11.00. The chart shows OBV, RSI and volume.

Alcoa 4-Year Weekly Logarithmic Chart courtesy of BigCharts.com

With a 41% gain from the July low and concerns over the top line growth, you would expect profit taking at the $11.00 resistance level.

Reference some excerpts from the fourth quarter release:

Fourth quarter 2013 revenue was $5.6 billion, compared with $5.8 billion sequentially, and $5.9 billion in fourth quarter 2012, as realized aluminum prices declined 1 percent sequentially, and 7 percent year-over-year.

Revenue in 2013 was $23.0 billion, compared to $23.7 billion in 2012 as realized aluminum prices declined 4 percent year-over-year.

In 2014, Alcoa projects global growth in the aerospace (7 percent to 8 percent), automotive (1 percent to 4 percent), packaging (2 percent to 3 percent), and building and construction (4 percent to 6 percent) markets. After a strong 2013, Alcoa projects a steady commercial transportation market (-1 percent to 3 percent), and a decline in the industrial gas turbine market (-8 percent to -12 percent) on lower orders for new gas turbines and spare parts.

Alcoa sees global aluminum demand growth of 7 percent in 2014, after 7 percent growth in 2013.

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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.

© 2014 TradeOnline.ca

PetroBakken Energy (PBN:TSX) chart analysis

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Breakout for PetroBakken Energy on the daily chart
PetroBakken Energy candlestick chart analysis showing the morning star candlestick pattern. Two bullish white candlesticks confirmed a breakout at $17.00. Volume, On Balance Volume and the Relative Strength Indicator are confirming the uptrend.

PetroBakken Energy (PBN:TSX) Candlestick Chart

PetroBakken Energy (PBN:TSX) candlestick chart analysis showing the morning doji star candlestick pattern. And a bullish white candlesticks gaps away from the previous white candlestick with a confirmed breakout at $17.00. Volume, On Balance Volume (OBV) and the Relative Strength Indicator (RSI) are confirming the uptrend.

The morning doji star is a major reversal pattern which called an end to the near-term downtrend that started on February 23. It is comprised of three candlesticks. The first candlestick is the dark tall bearish candlestick that appeared on March 5. The bears were in control at this stage but the volume was relatively light. Then on March 6, a gap appears with a doji (narrow or the same opening and closing) which is the second part of the pattern. Then on March 7, there is another gap and a tall white candlestick associated with above average volume. The reversal pattern is now completed. This particular morning star formation is rare and would be properly called an abandoned baby. It has two gaps where there is no overlap of the shadows.

You must always be cognizant of the fundamental news for a company and the reaction on the chart. View the following release for the details: PetroBakken Energy Ltd. is pleased to announce our fourth quarter and year-end 2011 financial and operating results.

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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

RBC Royal Bank (RY:TSX) chart analysis

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Confirmed breakout for RBC at $55.00
RBC Royal Bank chart analysis based on the daily candlestick chart showing the breakout at $55.00. Above average volume and on balance volume are confirming the breakout.

RBC Royal Bank Daily Candlestick chart

The reversal of roles is an important concept in technical analysis: $55.00 was resistance and it is now the new support level.

Reference previous charts for RBC Royal Bank:

Review the RBC Royal Bank website for the fundamental data..

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

Suncor (SU:TSX) daily candlestick chart analysis

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Suncor trading in a narrow congestion area
Suncor (SU:TSX) daily candlestick chart analysis showing the congestion area with resistance at $35.00. Confirming indicators are Volume, OBV and RSI.

Suncor (SU:TSX) Daily Chart

Key points to consider from the above daily candlestick chart:

  • Trading in a narrow congesting area also known as a trading range of $34-$35.
  • The near-term trend is sideways.
  • The intermediate trend is up.
  • The probability favors the continuation of the intermediate uptrend.
  • Volume, OBV and RSI are confirming indicators.
  • Look for increased volume and a breakout at $35 to add to long positions.
  • A confirmed break below $34 would be reason to liquidate long positions.
  • A time period to monitor for resolution of the congestion area is one to three months.

Reference my March 11, 2011 post for Suncor: Bearish engulfing pattern on the weekly chart

Reference my March 10, 2011 post for Suncor: Is the sun still shining on Suncor?

Reference the website for Suncor to review the fundamental data for the company.

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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