Rogers Communications Inc., Bombardier: Technical comments on equities in today’s news
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Rogers Communications, Inc (TSE: RCI.B) – $32.41 Cdn.
News event: Upgraded by RBC Capital to Outperform
Technical comment: Rogers’ intermediate technical profile has improved significantly during the past few trading days. The stock has broken above its 50 and 200 day moving averages. Today, its intermediate trend changed from down to up after the stock broke above resistance at $31.89 and $33.18. In addition, strength relative to the TSX Composite Index is trying to turn positive. Short term momentum indicators currently are overbought. Accumulation on weakness closer to its 200 day moving average is preferred.
Chart courtesy of StockCharts.com www.stockcharts.com
Bombardier (TSE:BBD.B) – $4.39 Cdn.
News event: Upgraded by Raymond James
Source: FP Trading Desk
Technical comment: Bombardier has an improving intermediate technical profile following a 22% decline during the past two weeks. Intermediate trend is up. The stock remains above its 200 day moving average. Strength relative to the TSX Composite Index has been positive since April. Short term momentum indicators are oversold and trying to recover. Resistance exists at $5.35.
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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