Oct 242014
 
Major support for Precision Drilling is $9.00
Precision Drilling weekly chart showing the intermediate downtrend with major support at $9.00.

Precision Drilling 3-Year Weekly Chart

Precision Drilling reports earnings on Monday, October 27, 2014.

October 27, 2014: News today – Oil prices tumble; Goldman slashes forecast

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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

Dec 172013
 
Back to the support level on the weekly chart
Precision Drilling chart showing the return to the support level.

Precision Drilling 2-Year Weekly chart

On July 28, 2013, I published a chart showing the breakout above the resistance level. This updated weekly chart shows Precision Drilling back to the breakout point which is now the support level. The reversal of roles is an important concept in technical analysis.

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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.

© 2013 TradeOnline.ca

Jul 282013
 
Breakout for Precision Drilling on the weekly chart
Breakout for Precision Drilling on the weekly candlestick chart.  Volume and RSI are confirming the intermediate uptrend.

Precision Drilling Weekly Chart courtesy of StockCharts.com

Breakout for Precision Drilling on the weekly candlestick chart. Volume and RSI are confirming the intermediate uptrend.

Reference the last chart analysis for Precision Drilling.

Reference the last chart analysis for the TSX Index.

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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.

© 2013 TradeOnline.ca

Jan 182013
 
Near-term uptrend and major resistance at $9.00
Near-term uptrend for Precision Drilling with major resistance at $9.00.

Precision Drilling 1-Year Bar Chart

Precision Drilling near-term uptrend will meet resistance at $9.00. Unless there is a confirmed break above this level, there is no reason to hold this stock.

The Canadian energy sector which represents 27.88% of the S&P/TSX Composite Index is not participating in the intermediate uptrend in global equities. It is a major reason (along with materials) why the TSX Index is not moving up relative to global equities. The Canadian crude oil discount, caused in part by pipeline constraints, has added to the pain in the energy sector.

Reference the last chart analysis for Precision Drilling posted on July 26, 2012.

Visit the Precision Drilling website for a profile of the company and the latest financial numbers.

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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 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.

© 2013 TradeOnline.ca

Jul 262012
 
Near-term uptrend for Precision Drilling with resistance at $8.00
Precision Drilling candlestick chart showing the near-term uptrend and the confirming indicators of volume, OBV and RSI.

Precision Drilling 6 Month Daily Chart

Reference the last chart analysis for Precision Drilling.

Review the latest earnings release for Precision Drilling and note the positive reaction on the above chart.

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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

Mar 282012
 
Can Precision Drilling hold the $9.50 support level?
Candlestick chart analysis for Precision Drilling as it prepares to test support at $9.50

Precision Drilling Daily Chart

Reference the last chart analysis for Precision drilling.

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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

Feb 082012
 
Near-term uptrend for Precision Drilling will meet resistance at $11.50
Precision Drilling chart analysis showing the downward sloping trendline and a near-term uptrend.

Precision Drilling Six Month Daily Chart

Precision Drilling reports fourth quarter results for 2011 on Thursday, February 9, 2012.

Reference my chart analysis for Precision Drilling posted October 12, 2011.

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

Oct 122011
 
Can Precision Drilling maintain the near-term uptrend?
Candlestick chart analysis for Precision Drilling (PD:TSX) showing the near-term uptrend  with support and resistance levels.

Precision Drilling Candlestick chart

Reference the last chart analysis for Precision Drilling.

Precision Drilling Corporation (“Precision”) intends to release its 2011 third quarter results
before the market opens on Friday, October 21, 2011 and has scheduled a conference call and
webcast to begin promptly at 12:00 Noon MT (2:00 p.m. ET) on the same day.

FP article dated Oct 21, 2011: Precision Drilling earnings surge 48%

Update Friday, Oct 21, 2011: Stock sold-off to the $11.00 level as indicated by a bearish engulfing pattern on the daily chart: sold into the news of the earnings release. Traders who bought the stock at the beginning of the month took profits on the gain from $8.00 to $12.00: a nice profit of 50%.

Update Monday, Oct 24, 2011: Precision Drilling closed at $11.87 today.  The stock pattern may indicate that it will ease into a lateral band between $11.00 and $12.00.  A close above the $12.00 resistance level for two days would be a sign to add to long positions with an intermediate target of $15.00.  If the stock cannot hold the $11.00 level, it would be a sign to liquidate longs.

Update Monday, Oct 31, 2011: Precision Drilling closed at $11.56 today. A tall bearish candlestick (daily candlestick chart) after two spinning tops is not a good omen. Another negative factor is the above average volume today on the sell-off. If the stock cannot hold support at $11.00, the next major test would be the 50% retracement level of around $10.00.

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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