The Canadian Technician

Will The Loonie Be Rejected A Beaver Short Of A Buck?

by Greg Schnell

One thing about the Canadian Currency; we have managed to find fun names for just about every coin and note. We have had the toonie (bear), the loonie (Loon), the caribou, the bluenose schooner, the beaver and the Maple Leaf. We have now killed the penny (maple leaf). Looking at the Canadian Loonie chart half way through the year, it looks like it went down Cascade Falls in Banff National Park and splashed in a pool at the bottom. Here is Cascade Falls if you have not made it to Banff National Park yet. Here is the chart of the Canadian Dollar. The similarities are Read More 

The Canadian Technician

The Value Line Geometric Index Tests Both Of The Old Major Highs

by Greg Schnell

The Valueline Geometric Index ($XVG) is approaching the previous high again. It has been up here before in 2014 only to slide back. We can see the two previous peaks in the zoom box on the right around 490. The two previous major peaks on $XVG of 1998 and 2007 are the month end closes. The Intra-month highs are slightly higher at 508 and 509. On the chart, the indicators are all based on the geometric index, not on the $SPX. The SP500 ($SPX) is shown in gray, the Value Line Index ($XVG) is shown in blue. First of all, what is a geometric index? Why would Read More 

The Canadian Technician

Is Cara Therapeutics Good IPO Behaviour Or Not?

by Greg Schnell

Cara Therapeutics (CARA) started trading in late January 2014. The IPO priced at $11.00 with 5,000,000 shares for float. The stock rocketed out of the gate and went on to double by March 1, 2014 trading. After that, CARA sold off over the next two months all the way back down to the mid $12 range. The chart then went almost horizontal for 2 months, only to jump 4% Thursday on news and 20% on no additional news Friday. What is an investor to think? First of all, this may be physically impossible to trade on fundamentals as an early stage lab. I read the Read More 

The Canadian Technician

LULU's Stock Fabric Is Also Looking A Little Thin

by Greg Schnell

Lululemon (LULU) has been a great Canadian success story. Today we'll answer the question "Is It Still A Success Story?" Going back and looking through my old blog on the stock, here is a link to follow the history of LULU since I blogged about it on October 25, 2012. Lululemon October 25, 2012 - In Love with a LULU or in love with a Lemon? Let's post a current chart in Lululemon colours. Now we have the beauty of hindsight.The optimal place to sell Lululemon with hindsight was the brief spurt to new highs that ended up being a failed double top a year ago in June 2013. Read More 

The Canadian Technician

$TSX Tries To Break Out To New Highs

by Greg Schnell

Currently, the $TSX sits just below the all time high. I have posted a short video to discuss the $TSX chart. I hope to post more chart videos if you like them. Let me know what you think, and most importantly, let me know what  I can do better.  Good trading, Greg Schnell, CMT Read More 

The Canadian Technician

Amaya Gaming Goes All In With PokerStars.net

by Greg Schnell

Wow! What a move on the Amaya Gaming (AYA.TO) stock today! Amaya offered $4.9 Billion cash.  We can see the stock started to break above resistance in late May but the SCTR fired off an early warning signal in early May when the stock was still around $8. I think they were holding aces! Usually the buyer does not soar on the news of spending almost $5 Billion. Google Finance shows the market cap of Amaya at $1.87 Billion after - yes after the 40% pop in the stock! I think making a purchase at 5 times your market cap (around $1 Billion Read More 

The Canadian Technician

Energy and Precious Metals Sectors Take Over The SCTR Rankings

by Greg Schnell

The Energy Sector has been hot this year and it continues to power higher. With the breakout in crude oil yesterday, the energy sector has a massive number of stocks leading the SCTR rankings. The top five companies are in healthcare, biotech, and software. After that the list is dominated by energy and precious metals stocks. Two things are amazing. One is that seasonality for the oil stocks is usually out of favour till early July. Yet they dominate the SCTR rankings. The second amazing concept is that Gold has been pulling back for months and recently bounced this week. But these gold Read More 

The Canadian Technician

$SILVER - Is The Tarnish Coming Off Or Is This Melting Down?

by Greg Schnell

Silver has lead/followed  $COPPER and $GOLD lower since the 2011 highs. What makes the $SILVER chart interesting today is the silver market has made seasonal lows in June before and $SILVER is near support. Reviewing the chart, any buyer at the current level is buying based on where support has been before. When looking at a chart with price action going from top left to bottom right means you are either the consummate against the trend trader, or you have decided that the $18.50 floor that has been established over the past year will hold once again.  More Read More 

The Canadian Technician

Air Canada - Is This Flight Over?

by Greg Schnell

Air Canada had been given up for dead back in the lows of 2012. A few years later, it is 1000% higher and the flights to Europe are very full. I think the summer season looks strong but the chart is at an interesting place. The reason the timing on this chart is interesting is the current attempt to make new highs. In the next few weeks we will find out if Air Canada investors can push the stock to new heights. The moving averages of 10 WMA and 40 WMA are sloped upward in a very positive formation. So what's the worry? Starting with the RSI, the line is reaching 70 which Read More