Canadian Pacific Railway (TSE:CP) – $47.69 Cdn.

News event: Reported better than expected third quarter earnings

Technical comment: Canadian Pacific currently has a negative intermediate technical profile. Intermediate trend is down. The stock confirmed its downtrend this morning by breaking support at $47.81. Short term momentum indictors are trending down. Strength relative to the TSX Composite Index has been negative since the end of August. Downside risk is to its 200 day moving average currently at $43.82.

Chart courtesy of StockCharts.com www.stockcharts.com

USX-US Steel Group, Inc (NYSE:X) – $38.14

News event: Reported a smaller than consensus third quarter loss.

Technical comment: U.S. Steel currently has a negative intermediate technical profile. This morning, traders took advantage of better than expected third quarter results by selling on news. Selling quickly caused the stock to fall below support at $40.40. The breakdown completed a head and shoulders pattern with a downside technical target of $29.15 where support is indicated. Strength relative to the S&P 500 Index has been negative during the past two months. Short term momentum indicators are oversold, but continue to trend lower.

Chart courtesy of StockCharts.com www.stockcharts.com

Rogers Communications, Inc (TSE:RCI.B) – $30.27 Cdn.

News event: Reported better than expected third quarter earnings

Technical comment: Rogers Communications currently has a mixed intermediate technical profile. On the positive side, the stock moved nicely above its 50 and 200 day moving average this morning following release of third quarter results. In addition, short term momentum indicators are recovering from oversold levels. On the other hand, intermediate trend is down and resistance exists at $31.88 and $33.18. Strength relative to the TSX Composite Index has been negative since February, but is showing early signs of improving.

Chart courtesy of StockCharts.com www.stockcharts.com

Texas Instruments, Inc (NYSE: TXN) – $24.10

News event: Upgraded by a U.S. investment firm from Market Perform to Outperform.

Technical comment: Texas Instruments currently has a positive intermediate technical profile. Intermediate trend is up. The stock moved above its 50 day moving average this morning. Strength relative to the S&P 500 Index has been negative, but is showing early signs of turning positive. Short term momentum indicators are recovering from oversold levels. Seasonal influences turned positive at the first week in October. Resistance exists at $25.35. A break above resistance implies a technical target of $28.85.

Chart courtesy of StockCharts.com www.stockcharts.com

Don Vialoux

Director of the Canadian Society of Technical Analysts

Comments offered in this report are for information only. They should not be considered as advice to purchase or to sell mentioned securities. An attempt to provide accurate data has been made, but accuracy is not guaranteed. Comments are from Don Vialoux and not from the Canadian Society of Technical Analysts.

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Tags - Previous posts for stock ticker: CP, RCI.B, TXN, X

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