Strong Trend Reversal in CEU!1. Two bullish hammers signalling reversal. Lower prices were tested.
2. Stochastic is turning up.
3. Market may trend upwards for a good duration.
S&P/TSX Composite
short term bullish in HMMJ Bought @ $23.53
Stop @ 23.66
Target 26.18 (based off Fib Ex)
RvR is over 4 to 1
Shares purchased: 40
Mitigation: No
$JET: TSXV"Budget" airline offering alternative to Aircanada or Westjet.
Based out of a weird airport.
Short down to .40
ACB in its last correction wave releasing good newsACB looking like its completing one last correction wave before stabilizing somewhere in the $9-$11 region. That being said they have just released great news so this could interrupt the last correction and continue on its bullrun but i find this unlikely.
All in all, don't try and fight the bull market. Cannabis is exploding right now and you'd best hold this one, it still has much more room to grow. That being said, a short around soon to be 13$ could be possible since id like to see it consolidate around 11$ before taking off again.
HMMJ nice RvR on the 15min HMMJ appears to be consolidating along side the whole CDN cannabis sector. I'm just paper trading to get a feel for this ETF during this consolidation.
OGC Reversal after a long downtrend, great buying opportunityThe last few trading days show that this is a good buying opportunity and stock has probably reversed.
Stochastic shows it climbing up from an oversold position and MACD histograms show that the market is trending positively.
I believe OGC could rise up to its previously long held position of $3.45-3.50.
I am placing a stop loss at $3.00, to give myself about 2% breathing space as the stock has been in a downtrend for a long time and the bulls may need some time to gain momentum.
HBM Bouncing off a support level-Target $10.40HBM has bounced off a long held support level. Last few trading days tested lower prices but the bulls won.
MACD and Stochastic show growing momentum and it returning from the oversold zone.
Even if HBM is simply in its trading range, we have an opportunity to buy in so that we can make a sweet 12% if it makes its way to its resistance level at $10.40.
In my opinion, it could possible break past its resistance level.
Reversing and making its way back up to $37KEY has had higher lows each of the past three trading days. It has also test prices at the lower bollinger band level. Price action shows a rising bull market.
Lots of momentum and the bulls have definitely taken over. I expect it to rise to at least $37.
Bearish Flag Pattern Elliot Correction for GoldMoneyGoldmoney provides an excellent solution to its customers. The stock took off ever since introducing Bitcoin into it as an asset. It is safe to say that Goldmoney offers exceptional products. Although a bearish flag pattern has emerged since the beginning of December 2017, I see the company doing well into next year. As well as its stock price. A small correction appears to accompany the emerged flag pattern. Price at $9-12$ by February.
Trend Reversal in SMF, expecting it to rise at least 9%Bulls are taking over.
Indicated by the strong bullish hammer and stochastic turning from the oversold area.
Added in MACD to further enforce the arising bullish trend.
Shows signs of being a good growth stock but definitely worth swing trading over the next two weeks.
Go long with Echelon Financial HoldingsThis is my first post and I am 16, so I am open to criticism.
I think EFH is rebounding of a strong support and is out of a trading range.
I have also indicated using Keltner Channels that the stock is undervalued at the moment. I have kept 90% of the candlesticks between the channels so that a much safer decision is made.
MACD shows us that the weekly trend is positive to go long.
I bought EFH at $12.10 and feel it will make its way up to at least $14 in a few weeks.
I went in when the daily elder force index and stochastic indicated the stock was oversold.
Reversal Trading Strategy, THCX:TSXV -minimum 7% growth expectedReversal Strategy Based on:
1. Price touches or goes below the bollinger band.
2. Stock is trading near or in the oversold region according to the stochastic oscillator.
3. Price formed a bullish hammer and on the following trading day, price did not reach that low.
To reaffirm my strategy, I put in RSI and ADX(with DI+ and DI-) to show that momentum is growing and will trend upwards.
I bought in at 2.50, however it isn't too late to buy. I expect the price to reach 2.84 (it might go even further).
Furthermore, the company is a big player in marijuana and an industry which has seen and will see more growth.
Potential of Breaking Resistance, should reach at least 3.30Kept it simple with this analysis.
Last few candles for AZ were bullish, and we saw it pop up on Friday.
I am confident it will at least get to 3.30, its resistance level. RSI indicates bulls gaining momentum.
However, I also feel like it might break past its resistance level this time as it has reversed at its lower bollinger band with a strong bullish signal twice now.
Bearish on TSX CanadaLooks extremely bearish and a good long term risk/reward trade is in the works (via ETF or some other instrument).
Central Bank of Canada now between a rock and a hard place.
allow CAD to continue appreciating and hurt exporters / dissuade foreign investment
FED raises rates --> BoC follows pace in lockstep to protect CAD from falling too low (i.e., 60 cent range)
or do they protect internal debt bubbles (housing, auto loans, consumer debt) by maintaining interest rates low at the expense of the CAD
Regarding point (3) above, remember that CAD can appreciate even if BoC keeps rates low at which point BoC is out of options short of currency injections a la selling CAD on the open market.
Macro Justifications
Short term effects
appreciating CAD hurt exporters and foreign investors (i.e., those looking to invest in Canadian companies --> TSX)
Long term effects
housing market unsustainable, on the verge of collapse
among highest household debt per capita in the world (167% of adjusted household disposable income, Australia sits at 187%)
debt of $2.029 trillion dollars on a workforce of 18.4 million out of 36 million population (51%) comes out to $110k debt per worker
interest rate increases leading to mortgage debt distress (i.e., cannibalization of consumption in other sectors to make up mortgage payment shortfalls)
NAFTA uncertainties?
Macro is all about which levers push more in one direction or the other.
- can the CAD appreciate in the event of an economic down turn? In turn giving BoC a free hand to stop protecting CAD and lower rates
- proximity affect of US inflation on Canada, although Canada experienced relatively no downturn during 2008 - 2009 US meltdown, so same could hold true now (i.e., US growth continues, Canada has economic crisis)
From this article: www.bloomberg.com
"It takes just a 5 percent increase to inflict the same economic impact as a quarter-point hike in the Reserve Bank of Australia’s cash rate, according to Paul Bloxham, chief economist for Australia at HSBC Holdings Plc, who previously worked at the central bank."
GO CANADIAN DOLLAR GO!!LONG the canuck buck as the US dollar continues to struggle. Looks to be breaking out on the weekly over a resistance/ peak.
$NAK is ready for a move on the upside.$NAK is ready for a move on the upside. It touched key levels of support and bounced back up after hitting the trend line.
Entry point: 1.48
Exit point: 1.97, if that key level of resistance is broken, hold until the next level of resistance is touched.
Stop loss: If the price goes below 1.23, a trend reversal will be confirmed. Below that point, sell your position.
Details to consider:
- This stock is prone to manipulation and massive dumping, be ready to close your position in case the situation turns bearish.
- It is wise to buy more shares once a breakout has been confirmed.
- Do not average down on your position if you are at a loss. Cut your losses short and have a clear stop loss exit point.
- The trend line has been consistent over the past months, so holding this stock for longer terms is possible.
- Have well defined entry and exit points if you are going to day trade this stock.
- It is a mining stock, meaning the exploration/drilling results will heavily influence future price action. Watch press releases very closely.
TSX Long Term Bearish ViewTSX Index decisively broke the 13-month support today (visible in weekly chart) amid the US political turmoil.
In a longer term, a contracting triangle pattern still holds. The all time high 15943 on 2017-02-20 is behind us. The market could be heading to 13000 at the long-term support level.
PYR lots more room to moveThe upside has to 1.35, lots of room to move after the next break upwards.
The next break will be large as it is hitting previous supply.
Watch this thing move. Buy on the upsloping line. Target 1.35 or higher.
TXCXCanadian index TSX, upward trend, but touched the level 78.6% (14844.79).
We are waiting for the correction 61% (14200.75)
Open position just with SL
MRU Weekly Look - People Gotta Eat!Pretty simple long setup on the weekly. We had a hammer close and RSI (5) shows extreme oversold. We can see a similar candle on the week of June 20th, which then lead to 4 straight green weeks. I don't expect much more downside for #MRU from this point. I have a short term target of 45.15 and 46-48 long term. There is a lot of open interest for the October 16 46 calls and 48 calls.
H&S, nice buying opportunity?Pretty clear cut Head & Shoulders pattern here that has now created an interesting buying opportunity. At least for the short term. MRU has now hit the top part of its first support range and bounced off it as convincingly as it did in late June. Interesting setup right now.
TSX Composite Index Analyst ForecastLonger term into the end of next year the TSX is attractive for bulls. Currently the index may be as much as 6% over the average analyst year end target. Were the analysts too conservative in their 2016 year end forecast? With the fall historically being bearish for markets and oil, a significant pullback ahead seems reasonable.
S&P/TSX Composite (GSPTSE)
13,550 Average 2016 forecast
14320 Average Mid 2017 forecast
15333 Average 2017 forecast
(investing.com)
