Tag Archives: resistance

TSX Index candlestick chart analysis

Intermediate trend is sideways for the TSX Index
TSX Index candlestick chart analysis showing support and resistance levels.  The chart also identifies the major trend, intermediate trend and the near-term trend.

TSX Weekly Candlestick Chart

When the major trend is down, and the intermediate trend is sideways; the best trading decision is to raise cash levels, and stay out of the market.

Reference last weeks analysis of the TSX Index: not much has changed.

What are the critical support levels for the TSX Index?

What is a Double Top Reversal Pattern identified in the above chart?

Relevant articles picked from the Web:

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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

TSX Index chart analysis

Can the TSX Index break the resistance level of 12,500?

Candlestick chart analysis for the TSX Index showing support and resistance levels.  Can the TSX Index break the resistance level of 12,500?  RSI is confirming the intermediate downtrend.

TSX Index Weekly Candlestick chart

Reference the recent chart analyses for the TSX Index:

What are the critical support levels for the TX Index?

Relevant articles from the Web:

______________________________

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

Technical Analysis: Royal Bank (RY:TSX)

RBC chart analysis showing a bullish shaven head candlestick
Six-Month daily candlestick chart for the Royal Bank showing a bullish shaven head candlestick.  Three simple moving averages (SMA) are identified on the chart.  The intermediate trend is down which is highlighted by the 40-day moving average.  Resistance is at $50.00 and support should be around the gap which is sometimes called a window.  On Balance Volume is shown on the chart analysis and aslo the Relative Strength Indicator (RSI).  The Royal Bank is the largest bank in Canada and is traded on the Toronto Stock Exchange with the symbol of RY.

Royal Bank (RY:TSX) Candlestick Chart

Reference the last chart analysis for the Royal Bank of Canada based on the weekly candlestick chart: Royal Bank chart analysis indicates a bottom

The key points from the above chart analysis of the Royal Bank are:

  • Will there be follow-through in buying after the bullish shaven head candlestick?
  • What will be the reaction on the chart to the earnings release this Friday?
  • The intermediate trend is still down for RBC.
  • The overall market action for the TSX Index must be taken into account.
  • The intermediate trend for the TSX Index is still down.
  • The gap (window) will act as support on any pullback.
  • Major resistance level for RBC is around $50.00 on both the daily and weekly chart.
  • There must be above average volume to sustain the near-term uptrend.
  • The Relative Strength Indicator (RSI) is confirming the near-term uptrend.

Relevant articles picked from the Web:

______________________________

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 daily candlestick chart

Spinning top candlestick represents indecision

TSX index candlestick chart analysis based on the daily chart showing a spinning top candlestick with support and resistance
TSX Index Daily Chart

Reference the last chart analysis for the TSX Index based on the monthly logarithmic chart.

Reference the last chart analysis based on the weekly candlestick chart.

Relevant articles from the Web:

 ______________________________

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

Harami Cross on the weekly chart of the TSX Index

Candlestick chart analysis for the TSX Index on the weekly chart showing a harami cross and a tweezers top.

TSX Index Weekly Chart

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

Reference the last chart analysis for the index.

MarketWatch: Canadian stocks hesitate on Italy concerns

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.

Please leave a comment to suggest a stock or index for analysis on this site.

______________________________

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

Canadian Natural Resources (CNQ:TSX) chart analysis

Bullish white candlestick on the daily chart for CNQ
Candlestick chart analysis for Canadian Natural Resources (CNQ:TSX) showing a bullish white candlestick on the daily chart.  Major resistance is at $40.00 and confirming indicators of volume and rsi are identified in the chart analysis.

CNQ Daily Candlestick Chart

Candlestick chart analysis for Canadian Natural Resources showing a harami cross and a tweezers top. This could be a significant reversal indicator.

CNQ Chart for Nov 4, 2011

The above candlestick chart highlights the bullish candlestick for Thursday, Nov 3, 2011. I always look for follow-through after a tall bullish white candlestick. But you have to analyze individual company charts in the context of the overall market. And in this volatile market nimble traders will take profits on near-term gains. Major resistance of $40.00 is around the 200-day simple moving average which can be seen on a weekly chart.

The chart to the right is a snippet from the daily chart for Friday, Nov 4, 2011. The harami cross candlestick pattern in combination with a tweezers top could be an indicator of a reversal in the near-term uptrend. The bulls did on persevere on Friday.

Reference the last chart analysis for Canadian Natural Resources.

Reference the website for Canadian Natural Resources to review the fundamental data.

The main purpose of TradeOnline.ca is a starting point for your own 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 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

US Bond 10-year yield candlestick chart

Support and resistance levels
Candlestick chart analysis of the US 10 year treasury note yield showing support and resistance levels

US 10 Year Treasury Note Yield

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

At this stage in the market, there is a direct correlation between the the major stock indexes and the 10-year treasury yield. Bearish sentiment is reflected in falling yields as investors move into the relative safety of government bonds.

Reference the last analysis for the US Bond 10 year yield.

Relevant article picked from the Web:

What is the bond market telling us? — Financial Post — Jan 12, 2012

______________________________

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