Nice little “pop” in the markets today. Of the 557 stocks analyzed on the S&P 500 and TSE 60, 471 advance, 80 declined and the remaining 6 were overshadowed by the Dow’s 10,000 close.
With a median gain today of 1.66%, it appears as if everyone made a little money.
What should you be watching for tomorrow…
Today’s report highlights all of the stocks in the TSE 60 that made a Bullish Moving Average Crossover with respect to MACD
Highlighting: AGRIUM INC COM NPV (TSE:AGU), CDN NAT RES COM NPV (TSE:CNQ), CANADIAN TIRE CORP LTD CL A NV (TSE:CTC.A), NEXEN INC COM NPV (TSE:NXY), SAPUTO INC (TSE:SAP), YELLOW PAGES INCOM TRUST UNITS (TSE:YLO.UN)
AGRIUM INC COM NPV (AGU.TO)
54.45
+ 0.97 (1.81%)
Support 2
Support 1
Pivot Point
Resistance 1
Resistance 2
53.40
53.92
54.27
54.79
55.14
Support & Resistance Analysis
Broke Lwr Resistance (1)
MACD Analysis
Positive/Increasing
MACD
MACD vs. Signal
Bullish MA Crossover
0.121
RSI Analysis
Bullish
RSI
Stochastic (Fast) Analysis
Neutral
53.613
50-Day MA Analysis
Above 50-Day MA
%K (fast)
200-Day MA Analysis
Above 200-Day MA
78.636
Critical Level Analysis
CDN NAT RES COM NPV (CNQ.TO)
77.49
+ 2.54 (3.39%)
Support 2
Support 1
Pivot Point
Resistance 1
Resistance 2
75.09
76.29
76.89
78.09
78.69
Support & Resistance Analysis
Broke Upr Resistance (2)
MACD Analysis
Positive/Increasing
MACD
MACD vs. Signal
Bullish MA Crossover
1.680
RSI Analysis
Bullish
RSI
Stochastic (Fast) Analysis
Increasingly Overbought
68.072
50-Day MA Analysis
Above 50-Day MA
%K (fast)
200-Day MA Analysis
Above 200-Day MA
100.000
Critical Level Analysis
Broke Above Previous Trend
CANADIAN TIRE CORP LTD CL A NV (CTC-A.TO)
58.17
+ 0.49 (0.85%)
Support 2
Support 1
Pivot Point
Resistance 1
Resistance 2
57.53
57.85
58.01
58.33
58.49
Support & Resistance Analysis
Neutral
MACD Analysis
Negative/Increasing
MACD
MACD vs. Signal
Bullish MA Crossover
-0.025
RSI Analysis
Bullish
RSI
Stochastic (Fast) Analysis
Increasingly Overbought
56.178
50-Day MA Analysis
Above 50-Day MA
%K (fast)
200-Day MA Analysis
Above 200-Day MA
85.950
Critical Level Analysis
NEXEN INC COM NPV (NXY.TO)
25.77
+ 0.7 (2.79%)
Support 2
Support 1
Pivot Point
Resistance 1
Resistance 2
25.34
25.56
25.73
25.95
26.12
Support & Resistance Analysis
Broke Upr Resistance (2)
MACD Analysis
Positive/Increasing
MACD
MACD vs. Signal
Bullish MA Crossover
0.247
RSI Analysis
Bullish
RSI
Stochastic (Fast) Analysis
Increasingly Overbought
63.433
50-Day MA Analysis
Above 50-Day MA
%K (fast)
200-Day MA Analysis
Above 200-Day MA
96.164
Critical Level Analysis
Broke Above Previous Trend
SAPUTO INC (SAP.TO)
26
+ 1.17 (4.71%)
Support 2
Support 1
Pivot Point
Resistance 1
Resistance 2
24.64
25.32
25.80
26.48
26.96
Support & Resistance Analysis
Broke Upr Resistance (2)
MACD Analysis
Negative/Increasing
MACD
MACD vs. Signal
Bullish MA Crossover
-0.218
RSI Analysis
Bullish Centerline Crossover
RSI
Stochastic (Fast) Analysis
Neutral
53.646
50-Day MA Analysis
Below 50-Day MA
%K (fast)
200-Day MA Analysis
Above 200-Day MA
78.261
Critical Level Analysis
YELLOW PAGES INCOM TRUST UNITS (YLO-UN.TO)
5.64
+ 0.07 (1.26%)
Support 2
Support 1
Pivot Point
Resistance 1
Resistance 2
5.55
5.60
5.62
5.67
5.69
Support & Resistance Analysis
Broke Lwr Resistance (1)
MACD Analysis
Positive/Increasing
MACD
MACD vs. Signal
Bullish MA Crossover
0.151
RSI Analysis
Bullish
RSI
Stochastic (Fast) Analysis
Increasingly Overbought
66.822
50-Day MA Analysis
Above 50-Day MA
%K (fast)
200-Day MA Analysis
Above 200-Day MA
81.081
Critical Level Analysis
Broke Above Previous Trend
Tech Talk – By The Numbers is a supplement to current offerings from TimingTheMarket.ca and will be offered by Mr. Vialoux following each trading day.
Disclosure: Mr. Vialoux does not own securities mentioned in this report.
Disclaimer: Comments and opinions offered in this report at www.timingthemarket.ca are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed
Hi Don.. For YLO-UN. TO, the analysis says it broke thru the lower resistance (1) OF 5.67. A 10-day chart using say 30 min bars shows the resistance of 5.65 which appears quite strong as it has been a wall for this time. The high today was 5.65 so how could the 5.67 be broken?
Thanks for your continuing great web site…. John
Hi John A, I think the confusion exists on the fact that the data contained within the “green” areas, the numbers, represent the support and resistance as of the close of trading. In essence they represent today’s support and resistance values and the the comments contained within the chart are based on activity that happened throughout the day (comparing one day to the previous). The calculations under the methodology I am using for support and resistance in the By The Numbers reports are as follows:
—
The calculation for the new day are calculated from the High (H), low (L) and close (C) of the previous day.
Pivot point = P = (H + L + C)/3
First area of resistance = R1 = 2P – L
First area of support = S1 = 2P – H
Second area of resistance = R2 = (P -S1) + R1
Second area of support = S2 = P – (R2 – S1)
—
That excerpt above was taken directly off http://www.pivot-point-trading.com/, so my thanks to them. The above calculation represents the easiest way to calculate these levels for the volume of stocks I am analyzing, currently at 557 securities. All of the data, both current day and prior day, is included in the CSV document attached to each report.
The calculation of these levels is very much subjective, and everyone has their own prefernce of doing it. Donny V is using alternate methods in his analysis which can be viewed in the two reports he publishes daily, Tech Talk and Technical Comments on Equities in Today’s News.
Jon
Could please write an article on how to USE all these Technical Analysis.
I like the 9 boxes that you show the numbers, but I am not 100% sure how to use them.
A simple guide will be very useful for us private investor.Thanks
NG
Hi Nirmal,
Certainly, I could definitely look into that. It looks like it would be a really useful addition to the Education section as well since this site mentions these technical indicators quite often.
Hi Roy, in the case of my calculation, using pivot points as indicated above, if a stock breaks resistance or support then new levels would be created based upon the high, low and close price for the day.
I know Donny V likes to chart it, so in that case if you have a breakout above (or below for that matter) a predeterminied level as a result of forming a new trend or reacting to market events then new levels would be formed. Calculating support and resistance levels is not an exact science, but a number of options could occur in determining the next level. The use of bollinger bands or moving averages are two such methods, or even opening up the time horizon to include levels reached during past events (eg. reverting from using 1-month data to 3-month).
Donny V would certainly be able to go into more detail than I what I’ve provided here, but I hope that helps.
Hi Jon.. Thanks for the explanation!! The website for the calcns. was very interesting. I have studied and used Tech. Analysis in various forms for a long time but never was aware of the market makers internals and the importance of these supt and res levels. Its something I shall add to my stock surveys. Also, do you know of any stats that track stock behavior after breaks above or below the res and supts?
ShareThis
October 14th, 2009 at 9:55 pm
Hi Don.. For YLO-UN. TO, the analysis says it broke thru the lower resistance (1) OF 5.67. A 10-day chart using say 30 min bars shows the resistance of 5.65 which appears quite strong as it has been a wall for this time. The high today was 5.65 so how could the 5.67 be broken?
Thanks for your continuing great web site…. John
October 14th, 2009 at 9:59 pm
Hi .. Ditto for AGU. The day high was 54.61 while the analysis says it broke resistance 1 at 54.79
October 15th, 2009 at 6:51 am
Hi John A, I think the confusion exists on the fact that the data contained within the “green” areas, the numbers, represent the support and resistance as of the close of trading. In essence they represent today’s support and resistance values and the the comments contained within the chart are based on activity that happened throughout the day (comparing one day to the previous). The calculations under the methodology I am using for support and resistance in the By The Numbers reports are as follows:
—
The calculation for the new day are calculated from the High (H), low (L) and close (C) of the previous day.
Pivot point = P = (H + L + C)/3
First area of resistance = R1 = 2P – L
First area of support = S1 = 2P – H
Second area of resistance = R2 = (P -S1) + R1
Second area of support = S2 = P – (R2 – S1)
—
That excerpt above was taken directly off http://www.pivot-point-trading.com/, so my thanks to them. The above calculation represents the easiest way to calculate these levels for the volume of stocks I am analyzing, currently at 557 securities. All of the data, both current day and prior day, is included in the CSV document attached to each report.
The calculation of these levels is very much subjective, and everyone has their own prefernce of doing it. Donny V is using alternate methods in his analysis which can be viewed in the two reports he publishes daily, Tech Talk and Technical Comments on Equities in Today’s News.
Hope this helps,
Jon
October 15th, 2009 at 7:03 am
Jon
Could please write an article on how to USE all these Technical Analysis.
I like the 9 boxes that you show the numbers, but I am not 100% sure how to use them.
A simple guide will be very useful for us private investor.Thanks
NG
October 15th, 2009 at 9:07 am
Hi Nirmal,
Certainly, I could definitely look into that. It looks like it would be a really useful addition to the Education section as well since this site mentions these technical indicators quite often.
In the meantime, you can refer to Don’s “Comining Seasonal Investing with Technical Analysis” report.
Let me see what further I can come up with.
Jon
October 15th, 2009 at 9:33 am
Jon
What happens when a stock breaks the 2nd resistance? Is there no more resistance left EG SAP.
October 15th, 2009 at 10:18 am
Hi Roy, in the case of my calculation, using pivot points as indicated above, if a stock breaks resistance or support then new levels would be created based upon the high, low and close price for the day.
I know Donny V likes to chart it, so in that case if you have a breakout above (or below for that matter) a predeterminied level as a result of forming a new trend or reacting to market events then new levels would be formed. Calculating support and resistance levels is not an exact science, but a number of options could occur in determining the next level. The use of bollinger bands or moving averages are two such methods, or even opening up the time horizon to include levels reached during past events (eg. reverting from using 1-month data to 3-month).
Donny V would certainly be able to go into more detail than I what I’ve provided here, but I hope that helps.
Jon
October 15th, 2009 at 12:23 pm
It sure helps. Thanks Jon. Much appreciated.
October 15th, 2009 at 12:34 pm
Hi Jon.. Thanks for the explanation!! The website for the calcns. was very interesting. I have studied and used Tech. Analysis in various forms for a long time but never was aware of the market makers internals and the importance of these supt and res levels. Its something I shall add to my stock surveys. Also, do you know of any stats that track stock behavior after breaks above or below the res and supts?
Thanks again… john