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 30th 2006
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| STOCK: BREAKWATER RESOURCES BWR |
WEBSITE: www.breakwater.ca |
| CURRENT PRICE: 0.86 |
TREND: RESISTANCE BREAKTHROUGH |
| TARGET PRICE: N/A |
RECOMMENDATION: SPECULATIVE BUY |
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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 Canadian resource stock is showing some very interesting signs on a technical basis. On the long term chart, the price is currently at its resistance level, which is passed last week, only to retreat back to this level. The MACD is very extended here, without any signs of heading down, but it should be watched carefully in the coming weeks. The cash flow has also been very positive on this stock, and bodes well for this stock as well. On the short term chart, it broke through a yearly resistance level nicely, but the MACD is showing signs of heading lower from here, so the breakthrough might not occur immediately.
Bottom line, this stock is looking very good here, and a follow through above long term resistance would be key to going long on this stock, and short term profit taking may occur in the coming days.
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If our technical analysis was of value to you:
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| STOCK: CANWEST PETE CORP CWPC |
WEBSITE: |
| CURRENT PRICE: 4.48 |
TREND: RESISTANCE BREAKTHROUGH |
| TARGET PRICE: N/A |
RECOMMENDATION: WAIT |
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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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Yet another resource request from one of our members, do you see a pattern developing here, yes, there is a bull market in resource stocks. According to the charts, the long term trend looks very good, as it has broken through its resistance, and has treaded up steadily since. The MACD looks like it wants to take a breather here, and it heading down, but the RSI doesn’t believe it. This type of conflicting indicators is what makes technical analysis difficult, but when in doubt, we tend to go with the MACD. On the short term chart, the trend is very positive, as the price increases steadily in an ascending channel. The MACD is very extended, but isn’t showing any signs of slowing down in the short term.
Bottom line, things look good here in the short term, but the long term needs to be re-evaluated with time.
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If our technical analysis was of value to you:
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| STOCK: QUEENSTAKE RESOURCES QRL |
WEBSITE: www.queenstake.com |
| CURRENT PRICE: 0.38 |
TREND: SHORT TERM DOWN |
| 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 Canadian resource based company has been on a tear this calendar year, but how long will it last? On the long term charts, there may be some resistance near the mid $0.40’s, so this price needs to be watched carefully. The price closed off the highs, so sellers came in to unload stock, which brought it lower. The money flows show that some money has come out, but this is by no means a suggestion that there will be a massive exodus. The MACD is also showing some premature signs of turning, so these notables need to considered carefully. On the short term chart, the MACD is clearly heading down, yes the price is not falling very much at all.
This stock, as well as many other resource stocks, all seem to be showing excellent resilience in the wake of profit taking. As the MACD heads down, the price does not follow. Technically, things are not looking extremely bright, on the other hand, any positive technical action usually causes these stocks to gather significant upward momentum.
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If our technical analysis was of value to you:
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