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Volatile times. Volatility doesn't give us a direction, but volatility runs in cycles. Be able to sell at the top, if markets are weak above a certain point. The market is running in a channel now with a top and bottom. Take your bets and accept a floor on your loss. We can see big drops as well as gains. Tech dominates U.S. markets. For Canadian oil, buy now. The potential for oil go up may be there, but have the discipline to sell off, too. Anytime you buy a stock, you're emotional. But discipline is fundamental to technical analysis. Look at price. Draw your horizontal lines--your exits--and adhere to them.
A very good small cap. They gapped up. Volume is sporadic, because it's a small cap. Had an 8% rise on March 15. Continues to rally. Would like to see more volume and it could consolidate around $23-26. There are positive signs of a break-out. Reduce around $26.75. It's now above resistance at $27, which is very positive. Consider adding to it now.
S&P 500 technical analysis: Support at 2,538. High is 2,876. The midpoint is 2,707 and we're close to it. It's holding within this range firmly and consolidating between 2,650 and 2,580. It looks like we're breaking out of that.
At 2,560 we would go towards cash which would mark a downtrend. Don't know if that's the case or if there'll be an uptrend. Can't tell right now.
Looks decent. Likes the upward trend. Earnings momentum and a strong relative performance compared to most other stocks. Good fundamentals. If it hits $128 in the fall it could mean a break-out. The recent dip saw a lot of buying from panic selling, which is a positive sign. It has since seen a good turnaround. Apply a 100-day moving average as your stop. Support level is strong at $103.
(A Past Top Pick on March 13, 2018, 3.5%) Going sideways, but holding up on a relative basis. Good earnings momentum and an asset growth play. Has peaked at $47.10 so anywhere above that is new territory and would mark a nice rally. This current pause is not unusual and is a buying opportunity.
In terms of technical analysis, a base forms after a stock decline--and this one has. Dropped from a high of $12. Formed a base around $9 for a while last fall. It's forming a new base now with a small upside. A base sees consolidation. WCP has the short-term potential to reach $8.90 when it'll hit resistance. On the downside, $7.40 would be its base and your exit point. Advantage Oil is a better oil stock. WCP is now finding a bottom. A base is 5-10% trading range.
Looks good. Support level is at the current price. Volume is okay. It's been going sideways long enough to create a support level. Exit below $27. The 5.5% dividend is great. Resistance is likely at $29. Bigger resistance at $31 possibly in the late-summer/early-fall. Next support level is $25 where you may start going through this cycle again. All mineral and energy stocks are traders, so five-year holds are not great, because you can lose money. That's why the S&P has beaten the TSX.
A small cap. Can't buy it because there's not enough volume for him to analyse. It's breaking down after holding up during market problems. If it holds above $3, that's great, but it may decline below $2.80. It's starting to come down. Be careful here. Next support level is $2.60 which is your exit point.
Last time it hit $8 was July 2015, then dropped to just over $1. Today saw a turnaround and reached an important point; yesterday, he would have sold it, but there could be a turnaround after today's gain. If this falls below $5.35 , it's an exit point. There's not much support now. It could increase 50 cents in the short-term.
Doesn't look good now. It's had many down days recently. People buy it for the yield, but you still lose if the stock price falls. The next support is $15.45 with minor support at $16.30. Look at the 30-day moving average--if it breaks above that, then it's worth looking at. Been volatile lately and its volume declining is a negative. Don't buy now, just watch it.
