Tag Archives: resistance

Thomson Reuters (TRI:TSX) candlestick chart analysis

Shooting star candlestick at resistance of $30.00
Thomson Reuters six month daily candlestick chart showing a shooting star candlestick as a reaction to the earnings release.

Thomson Reuters (TRI:TSX) Daily Chart

There was a positive reaction to the earnings release for Thomson Reuters as indicated by the gap and the close of $29.78. But the shooting star candlestick is a graphical representation of the selling pressure at the $30.00 resistance level. The stock opened at $29.75, rallied to $30.21 but closed at $29.78: practically unchanged from the open.

The trend is everything in technical analysis. The major trend is down for Thomson Reuters, the intermediate trend is sideways and the near-term trend is up.

A confirmed break (use the percentage and time filter) above resistance of $30.00 would indicate an intermediate target price of $33.00. If the stock cannot break resistance, it will continue to trade in the congestion zone with support around the $28.00 level.

Thomson Reuters Reports First-Quarter 2012 Results

We are all students of the market and it can be a harsh teacher. Enjoy your trading day.

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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

Chart for copper showing support and resistance levels

Copper maintains the lateral trading band
Chart analysis for copper showing the intermediate lateral trading band with support and resistance levels.

Copper One Year Daily Chart

Reference the last chart analysis for copper posted April 13, 2012.

View Kitco for updated charts and other 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.

© 2012 TradeOnline.ca

U.S. Treasury 10-Year Note chart analysis

Failed to hold support of 2.10%
U.S. Treasury 10-Year Note failed to hold support of 2.10% and is trading below the 200 day simple moving average.

U.S. Treasury 10-Year Note

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

The reversal of roles is an important concept in technical analysis. 2.1% was support on the last chart analysis: this level is now resistance.

Reference the last chart analysis of the U.S. Treasury 10-Year posted on March 30, 2012 showing the failure to break resistance of 2.40%.

Relevant articles picked from the Web:

______________________________

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

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:

______________________________

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: U.S. Treasury 10-Year Note

Failed to break major resistance at 2.40%
U.S. Treasury 10-Year Note showing support and resistance levels.

U.S. Treasury 10-Year Note

I last charted the U.S. 10-Year Treasury on March 16, 2012 when it broke the resistance level of 2.10% on the weekly chart. The new support level is now 2.10%. Over the last two weeks it has been unable to break the major resistance level of 2.40%. You have these two key points to set your alerts.

Relevant articles picked from the Web:

______________________________

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

U.S. Treasury 10-year note chart analysis

Major resistance for the 10-year note is 2.40%
Near-term uptrend for the 10-year treasury with major resistance at 2.40%.  The new support level is 2.10% and the intermediate trend is sideways.

US Treasury 10-Year Yield Weekly Chart

U.S. Treasury 10-year note has been trading in an intermediate lateral band of 1.80% to 2.10% for the past six months. The reversal of roles is an important concept in technical analysis and the old resistance level of 2.1% is now the new support level. Can the index breakout above 2.4% which is a major resistance level that was tested last October? Or will the TNX ease into another lateral trading band with 2.10% as the new support level?

Reference the last chart analysis for the 10-year treasury based on the weekly chart when it was unable to break the resistance level of 2.40% last October.

“Unless you want to earn an inflation adjusted return of minus 2-3% as offered by Treasury bills, then you must take risk in some form.” Bill Gross

Relevant articles picked from the Web:

______________________________

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

Near-term uptrend for the TSX index and will test 12,500
Near-term uptrend for the TSX Index on the candlestick chart with resistance at 12,500.  Volume is increasing which in positive for the index.

TSX Index Weekly Chart

The above weekly chart at the close of trading for the week January 16, 2012 shows the near-term uptrend for the TSX Index with resistance at 12,500. The weekly volume is increasing which bodes well for a continuation of the trend and a break at 12,500. But the intermediate trend is sideways and below the 200 day moving average.  Caution is advised before making any major commitments to this short-term rally. The performance of the TSX pales in comparison to the DJIA which is trading above the 200 day simple moving average and ready to test major resistance.

On Monday, January 23, 2012; the TSX Index made a tentative close above resistance of 12,500.  But you should apply both a price and time filter to confirm the break.  A reasonable price filter for the index would be a 1% to 2% break with a time filter of two days. Then 12,500 would be the new support level.  The reversal of roles from resistance to support or support to resistance is an important concept in technical analysis.

On Tuesday, January 24, 2012; the TSX Index closed below the resistance level of 12,500.  Needless to say, this is not a positive development.  At this time, there is no need to chase the near-term rally as the so called “fast money” made an exit at the 12,500 level.

On Wednesday, January 25, 2012; the TSX Index closed at 12,539 with a bullish engulfing pattern on the daily chart.  The volume was above average and OBV and RSI are both trending up. The fundamental news driving the market is the Fed statement confirming low interest rates and the renewed hope of a deal in Greece with the private lenders.  Now there has to be follow-through on Thursday.  I am looking for a confirmed break above resistance of 12,500 as per the price and time filters.

On Thursday, January 26, 2012; the TSX Index closed at 12,462 after reaching an intra-day high of 12,615.  Where is the follow-through?  The failure to hold above the resistance level of 12,500, for the second time this week, after an encouraging start to the session does not bode well for the continuation of the near-term uptrend.  The selling pressure in the financials, both banks and lifecos, was a standout among the decliners. There was some negative economic data out of the US and this was the cue for the traders to take some profit.  Always look at the market reaction to any news event.  It does not matter what I think or you think about the news event: the only thing that matters is the market reaction.  And traders are selling into the short-term rally which was dominated in Canada by the financials and energy.  The TSX is still in an intermediate lateral trading band: it has gone nowhere in comparison to the DJIA.  Take your cue from the charts.

On Friday, January 27, 2012; the TSX Index closed at 12,466.  It  was unable to break resistance at 12,500 this week.

Now, you need to complete your own daily analysis of the  TSX Index using the advanced settings for BigCharts which are detailed on this site.

Please review last weeks chart analysis for the TSX Index.

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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