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 March 24 2006
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| STOCK: TRANS AMERICAN ENERGY (TAE) |
WEBSITE: |
| CURRENT PRICE: 0.16 |
TREND: TREND REVERSAL |
| 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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TAE Technical Analysis
Trans American Energy is a micro cap Canadian listed company whose stock has been in the dumps for quite some time now, but we think that better days may be ahead. After looking at both charts, things are looking fairly positive on both the long and short term here, and we have added this stock to one of our top Canadian picks because of this outlook. On the long term chart, you can the stock pretty much crashed from a high of $0.37 to $0.06, after which it recovered some what, but still continued its downward slide. As the price has moved down, the MACD has been moving up, thus causing a bullish divergence. Also note how the money flows have levelled off, and are approaching positive territory, another big plus. On the short end of things, you can see the down trend line being broken, as well as a close at the 50 day moving averages, two other positive notes, but a follow through in todays trading will be required as confirmation. The second major notable is the positive cross over on the MACD, which should propel the stock forward in the short term as well.
Overall, things are looking very good here, and it may be an opportune time to take a position here.
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