Our analysis is based on long term trends, and if they are promissing, short term analysis. First, we view the
3 year weekly charts, followed by a 1 year daily chart. This analysis allows you to view the larger picture and trend,
rather than just looking at a short term prospective. This way, you can use short term volatilty to your advantage, if the
long term trend is positive.
You will see a summery of the stock we are analyzing, followed by the 3 year and 1 year charts. At the end, you will see a technical analysis summery. That's it,
to the point technical stock market analysis daily!
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Technical Analysis for April 6 2006
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| STOCK: TYLER RESOURCES (TYS) |
WEBSITE: |
| CURRENT PRICE: 0.95 |
TREND: POSSIBLE BREAK DOWN |
| TARGET PRICE: N/A |
RECOMMENDATION: WAIT/PASS |
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Long Term Chart (Weekly 3yr) - To view the bigger picture
Charts Courtesy of StockCharts.com
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Short Term Chart (Daily 1yr) - Where to take a position
Charts Courtesy of StockCharts.com
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TYS Technical Analysis
Tyler Resources is a Canadian listed resource stock, which has been on our watch list as a possible break out candidate, and quite frankly, this has been a disappointment (so far anyways). All right, lets take a look at the long term chart to begin with. When we first analyzed this stock, the MACD was looking like it was gearing up for a breakout, but since then, things have changed here a bit, in fact, is has treaded lower here. The money flows are also another indicator that is displaying negative characteristics here, with outflows continuing to occur, especially after the false upward momentum a couple of weeks back. Zooming into the daily chart, you can see the price breaking down below support here, which the next level of support around $0.90. The price did spike up as the MACD was approaching positive territory, but it failed to have any sort of follow through, which was not encouraging at all. Both the MACD and the RSI are heading lower here as well.
Bottom line, this stock is not looking very encouraging here. The stock may be playing games here to shake out weak investors here, but its not something you want to use as a trading vehicle. Its best to watch from the sidelines for now.
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