This is the time to exercise your patience guys! Last week I thought that TD was breaking out of the resistance of $77.46 which it did.... FOR ONLY LIKE 2 DAYS!! Then it retraces back to the 20/50 EMA. TD is playing it safe and so are the investors. Can we expect future events from the chart? Maybe. I see that the MACD is also moving sideways and it has no...
With XLF looking strong time to start watching some banks.
Look's like Wave 4 is complete and heading for Wave 5, potential $90 is coming.
TD showing strength compared to the other Toronto based financial institutions like CIBC, HCG, LB, etc., but may present a good opportunity to add to our "short Canada" trade.
For one of my long term dividend holds, this might signal a new entry to pick up a short term swing to collect some capital gains and offset the original cost of my long term position.
Maybe setting up for a right shoulder like it did back in 2007. I don't see how banks can outperform now.. housing is slowing down.. the fed's have distorted the markets with their rate schemes. Even customers don't even know what to do but complain, lose debit cards, and try to dispute fees. That's today's banking. I don't see what would cause to break to record...
RSI looks terribly consistent with no confirmed supports... just a bubble going up and down without any form or structure. CMF is negative and in black. Stochastic is armed for Knock Out. - this bank holds major mortgages of rich ppl - rich houses are going DOWN across multiple continents as we speak. Why ? their owners have no more liquidity to pay for...
TSX:TD Nearing the 200EMA on the weekly chart. Acted as a nice bounce spot every encounter in the last decade. Considering market environment I will be playing this very safe and waiting for some kind of confirmation before entering a long position. Any kind of daily closes under that range will be enough for me to pass on this trade. Entry - $65.24 StopLoss -...
Looking at a daily close under $69.20 for a short opportunity. Price is testing a horizontal that acted as strong support twice recently. Coupled with a 100/200EMA cross and current market situation will lead to a break in my opinion. Entry: Would like to see a strong break of support and take the first retest to the $69 area. Stop-Loss: $70.10 Take-Profit: $67.66
Biggest Canadian Bank with highest exposure to CAD mortgages. Has hit the long term hagopian line .
This trade is based off of a relative valuation using P/B (50% weight), P/E, P/S, EV/EBITDA (all 16.67% weight) and here are my findings, all prices in CAD: Overvalued: RY with a target of $94.30 (-4.00%) TD with a target of $70.95 (-3.10%) RY and TD also have the largest amount of Home Equity Lines of Credit on their balance sheets and these will perform poorly...
TD Bank has found support around 69-70. If breaks above 70.75 it could push back up to 76. If it breaks this current support, it may head back to 64.