BCE is in an uptrend and reports Thursday, May 12
BCE Three-Year Weekly Candlestick Chart
Reference the previous analysis for BCE.
BCE chart analysis
Leave a reply
Tag Archives: trend
Precision Drilling (PD:TSX) – Weekly Chart
Precision Drilling (PD:TSX) moving up on above average volume
Precision Drilling (PD:TSX) 2-Year Weekly Candlestick Chart
Reference the previous post for Precision Drilling based on the daily chart.
Other stocks featured on tradeonline.ca include: Dundee REIT, Encana, Suncor, RioCan REIT, BMO, Shoppers Drug Mart, Pfizer, BCE, and Patriot Coal.
Precision Drilling breakout above $12 resistance level
Can Precision Drilling (PD) hold the new support level of $12?
Precision Drilling Daily Chart
The most important points to note in the Precision Drilling (PD) chart analysis are:
- The major trend, intermediate trend and near-term trend are all up.
- The 40 day moving average is a good approximation of the trend line.
- Always trade in the direction of the trend.
- There was a breakout above resistance of $12.
- Major support is now $12.
- The reversal of resistance to support is an important principle in technical analysis.
- The breakout was on above average volume.
- Trading volume measures the force behind the move.
- On balance volume is confirming the upward trend.
- The MACD confirmed the breakout.
If an online trader made a buy on the breakout at $12.50, the trader must set up a stop-loss at that time. A reasonable stop-loss would be below support at $12. A stop-loss of $11.87 would represent a loss of around 5% and maybe not close enough that it would be taken out on a light test of support. Anyway, you will be around to trade another day. Risk management is an important concept in online trading. Preservation of capital is rule #1.
Precision Drilling is a leading provider of oilfield services.
Other stocks analyzed on this site include: Encana, Suncor, RioCan, BMO, Shoppers Drug Mart, Pfizer, BCE and Patriot Coal.
Investors are seeking yield. RioCan has been a favorite with institutional and individual Canadian investors.
RioCan Real Estate Investment Trust Chart Analysis
The trend is the most important concept in technical analysis.
You must always trade in the direction of the trend, and the major trend is up for RioCan Real Estate Investment Trust. All the real estate invest trusts (REITs) listed on the TSX have performed very well over the past two years.
What is the definition for the major trend? The three-year weekly candlestick chart is best for establishing the major trend (in effect for six months to a year) for a stock or an index. The major trend for RioCan is up with current resistance at $24.
3-Year Weekly Chart for Riocan
RioCan is the largest real estate investment trust in Canada and the liquidity makes this an attractive investment for institutional investors. It is worth taking a few minutes to review the profile for this company. Even if you focus on technical analysis to trade online, you need to have a basic understanding of fundamental analysis. Also, review the most recent quarterly results for RioCan.
Take a couple of minutes to input the advanced chart settings for BigCharts and then look at the this chart. You will have the advantage of viewing a larger chart and the ability to adjust the time period and other technical indicators. In a previous post, I presented an analysis of RioCan based on the 6-month daily candlestick chart and the reaction of the market to the release of the quarterly results. This analysis focused on the near-term and intermediate trend.
Visit Investment Talk with SPBrunner for an excellent review of the fundamental data for RioCan Real Estate Invest Trust.
Retail real estate poised to strengthen is a positive article on RioCan and other REITs.
Update May 19, 2011 – First-quarter report: RioCan gets boost from rental revenue.
Update May 31, 2011 – Target’s store picks a bullseye for RioCan REIT: TD
____________________________
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.
Copyright © TradeOnline.ca All rights reserved
The trend is up for the S&P/TSX
The long-term trend, intermediate trend and the short-term trend are all up for the S&P/TSX as of Friday, February 18.
All the technical indicators look good. But, the market had a good run and I think it is overextended. What will be the excuse to book profits? Investors are looking for a reason.
S&P/TSX 6-Month Daily Chart
____________________________
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.
Copyright © TradeOnline.ca All rights reserved
Shooting Star Candlestick for Shoppers Drug Mart
A shooting star candlestick developed on the daily candlestick chart which can be compared to a caution light.
It shows that the rally could not be maintained. The stock opened at $40.82, above the close for the previous day’s bullish white candlestick, which was a strong opening. But the bulls could not maintain the push as the stock rallied to a high of $41.59 where there was selling pressure and the stock closed at $40.87: this was not a good day for the bulls.
3-Month Daily Candlestick Chart
The trend is the most important concept in technical analysis. The intermediate trend (3 weeks to 3 months) is sideways and the near-term trend (within the last 3 weeks) is up. What we are trying to establish in this analysis is the likelihood of the near-term trend continuing upwards. Today, there is a hint of caution which you can see pictorially in the shooting star candlestick pattern.
Another important concept in technical analysis is support and resistance. On Monday, Shoppers Drug Mart closed above resistance at $40. This has been resistance for the last four months. The $40 price point reverses rolls and is now support for this stock. A close below $40 would be very negative for the near-term trend for Shoppers.
Is there any doubt about the trend for BCE?
The 100-day moving defines the trend line for BCE
Yes, it is definitely up. Defining the tend is the most important concept in technical analysis. You must always trade in the direction of the trend and jump aboard for the ride. Use candlesticks and other confirming indicators — moving averages, on balance volume and momentum indicators — to determine when it is time to exit the trade. All the indicators will be reviewed in future posts using real time examples. And, the objective of the site is to keep-it-simple: anyone can complicate a topic.
BCE 3-Year Weekly Chart
See the article in the National Post on the analyst upgrade for BCE.
Note: This analysis is for educational purposes. Please conduct your own 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. Copyright © TradeOnline.ca All rights reservedTSX in a consolidation pattern – Jan 24, 2011
Technical analysis gives you a guidepost to make investment decisions and takes some of the emotions out of those decisions.
TSX Daily Chart - Jan 24, 2011
The snippet of today’s chart is snipped from a customized 6-month daily candlestick chart of the TSX. I use the 6-month and the 1-year daily charts to establish the near-term trend (less than three weeks) of the TSX index. The 40-day, 20-day, and 10-day moving averages are used in conjunction with the candlesticks as confirming indicators: the 40-day average is currently a support level on the chart. The following is a summary of the price action on the chart:
- Bearish Engulfing Pattern (highlighted in red) formed last Wednesday which was very negative after the TSX broke 13,500 on Tuesday.
- On Thursday, the market gapped down and a spinning top candlestick formed with the shadow touching the 40-day moving average. This candlestick shows indecision in the market with a battle between the bulls and bears. The plus on this day was that the 40-day moving average was not breached.
- On Friday, the market sold off on heavy volume but held the 40-day average.
- Today, another spinning top candlestick formed. There are two pluses for the day: the market bounced off the 40-day and closed above 13,300.
Conclusion:The major trend (in effect for six months to a year) as seen on the 3-year weekly chart is up as defined by the 50-day simple moving average. The 40-day moving average as seen on the 6-month daily chart and in the snippet is also a good approximation of the the trend. But, as discussed in today’s analysis; the short-term trend is moving in a sideways (consolidation) pattern. The recommended strategy at this stage is to invest no new money in the TSX until there is a confirmed break above 13,500. If the market breaks down through the 40-day moving average on the daily chart, it is time to liquidate some long positions. Major support is at 13,000 and a break through this level could see a retracement to the 12,500 level.
Note: This analysis is for educational purposes. Please conduct your own 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.
Copyright © TradeOnline.ca All rights reserved