Breakout for Rogers (RCI.B:TSX) at $36 on the candlestick chart
What are the key points on the chart for Rogers?
- Breakout at $36 which was a resistance level.
- Bullish white candlesticks which closed near the high for each day.
- The stock price is above the three simple moving averages — 10-Day, 20-Day and 40-Day.
- Volume is increasing with the uptrend.
- OBV is confirming the uptrend.
- RSI is confirming the uptrend
Reference the fundamentals for Rogers. Also, reference the previous analysis for a competitor: BCE.
Relevant articles picked from the web:
- This story had an impact on the stock: Carlos Slim eyes Canada telecom market: analyst
- Article: May 30, 2011: Showing signs of revival, Rogers at a turning point.
- Financial Post article dated Nov 29, 2011: Conservatives put off changes to telecom foreign-ownership rules
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.
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