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 January 25th 2006
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| STOCK: GREAT CANADIAN GAMING GCD |
WEBSITE: www.gcgaming.com |
| CURRENT PRICE: 14.84 |
TREND: DOWN TREND STILL INTACT |
| TARGET PRICE: N/A |
RECOMMENDATION: 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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This is the third gaming stock we have evaluated this year, the others being Las Vegas From Home and Chartwell Technology. You can view the analysis on both of these stocks by visiting THIS YEARS TA from the menu. All of the gaming stocks evaluated seem to be in the same down trend, with the previous two beginning to look promising, but the same cannot be said with GCD. The long term chart clearly shows a declining channel, with the price currently at the high, therefore, things may go down from here. The MACD is also beginning to cross over into negative territory, and money flow is also still negative, all adding up to probable further declines from here. On the short end, the price closed near the low of the day yesterday, and the MACD is also heading down from here.
Confirmation is required before any positive signs show up technically, both on the short term and the long term, so we’ll take a pass on this one. We still think LVH and CWH offer better prospects technically; you may want to take a look at those instead.
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If our technical analysis was of value to you:
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| STOCK: MICROTUNE TUNE |
WEBSITE: www.microtune.com |
| CURRENT PRICE: 4.74 |
TREND: POSSIBLE TREND REVERSAL |
| TARGET PRICE: N/A |
RECOMMENDATION: WAIT FOR CONFIRMATION |
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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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This Nasdaq listed stock has been in a steady down trend for about six months now, and the charts suggest that this may soon end in the coming weeks. The long term trend continues to be down, and seems like it is completing the symmetrical triangle, which usually means the trend prior to the triangle forming will continue, which was upward. The MACD is not heading any lower as the price drops, which is extremely bullish, but the lack of new money flowing in keeps holding the stock down. On the short term chart, the evidence of the down trend is magnified, and the price is shown near the 50 DMA, and just below the 200 DMA, which is a bit concerning. The MACD is also heading down from current levels, and if it turns negative, the short term trend should be down.
On the whole, this stock is very interesting. The long term trend may be showing signs of a MACD divergence to the price, which is bullish, yet on the short end, the trend may be down. You can try to take advantage of the short term volatility to take a small position, since the long term trend is looking good, but it may be wise to wait a bit as the price drops to the $4.20 range. If it breaks below $4, things may get nasty.
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If our technical analysis was of value to you:
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| STOCK: SUNCOR ENERGY SU |
WEBSITE: www.suncor.com |
| CURRENT PRICE: 85.83 |
TREND: UP TREND INTACT |
| TARGET PRICE: N/A |
RECOMMENDATION: STAY LONG |
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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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This energy stock has been on a tear for a few years now, with no signs of slowing down at all. The long term trend is very healthy, and continues to go higher, since there isn’t any resistance showing up on the charts at all. The MACD is charging forward, but has it reached a pit stop, and needs to rest? This is possible, but no concrete evidence is showing up yet. The cash flows have been positive for a while, and continue to show money coming in, but not with the force it was before, a slight negative if you want to knit pick on the details. On the short term chart, you can clearly see the solid up trend for over a month now, and the MACD is heading into overbought territory, so maybe its time to take a rest here, but again, no solid evidence is available here, other than the RSI heading down, which cannot be relied on as a stand alone indicator for a single days performance.
Overall, things still look good here, with some weak signs of a possible rest period coming up. Can’t say anything negative with this stock, just no evidence pointing in that direction, but you should be cautious as its run up a lot without any consolidation.
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