Hey guys; not sure if anyone here is interested in a somewhat long term investment, but the TSX should drop down to 2 levels. The first one should be at the 2.618 level and the second, which should be where it terminates and decides to go long is at the 4.236. Could attain this goal anywhere between February up to Aug of 2018. If anyone has feedback let me know please!
TSX Index decisively broke the 13-month support today (visible in weekly chart) amid the US political turmoil. In a longer term, a contracting triangle pattern still holds. The all time high 15943 on 2017-02-20 is behind us. The market could be heading to 13000 at the long-term support level.
Longer term into the end of next year the TSX is attractive for bulls. Currently the index may be as much as 6% over the average analyst year end target. Were the analysts too conservative in their 2016 year end forecast? With the fall historically being bearish for markets and oil, a significant pullback ahead seems reasonable. S&P/TSX Composite...
in it's final wave up - OH CANADA!!! Real estate will lead the crash doooown!!! Still a decent long for the next year-and-a-half though.
According to investing.com, the average of 27 analysts polled in April shows year end target forecast of 13550. Weekly RSI is approaching 60, with the upper weekly bollinger band starting to level off. Technically the chart appears to indicate the price trend is now towards the upper side of the trading range and offering a less attractive 'risk-reward' ratio...
The main Canadian index shows a very nice picture telling us to expect sideways action before another upleg materialize to end the advance from the January low. A very nice rally that is running out of steam pretty much like the US market. A good target is around the 14K mark. We will keep an eye on it and we think the top is in, we will let you know. This...
The Canadian TSX Index ended the week at 12445, which is a HUGE level, historically, in terms of support and resistance We have had a significant t-line break in the past few weeks and TSX bulls will be hoping for some kind of support at 12445. However, if we observe more weakness and the Index breaks confidently below 12445, then expect another brutal down-leg...
TSX Composite Index is an index of the stock (equity) prices of the largest companies on the Toronto Stock Exchange (TSX) as measured by market capitalization. The Toronto Stock Exchange listed companies in this index account for about 70% of market capitalization for all Canadian-based companies listed on the TSX Although this index are not on the priority list...