Chart of the Day

CotD - RNW - SM
Chart-of-the-Day

Chart of the Day – TransAlta Renewables

February 11, 2022 Bob Weir

Shares of companies in the renewable energy space have been under pressure lately as they are expected to be negatively impacted by rising interest rates. We believe that the share price declines have been overdone, and that long-term recovery prospects are attractive. We highlight TransAlta Renewables (TSX: RNW) in this report. [more]

Chart-of-the-Day

Chart of the Day – Update on Canadian Utilities Limited

January 13, 2022 Bob Weir

Since April 2020, CU has been trading in an extensive rectangle between $30 and $37. One year later, in April 2021, the stock began its assault on its upper parameter, but the stock failed to overcome resistance at $37. It seems that some kind of catalyst is needed to get CU “over the hump”. [more]

Chart of the Day - Suncor
Chart-of-the-Day

Chart of the Day – Suncor Energy Inc.

September 21, 2021 Bob Weir

The Energy sector has not performed well over the past ten years. One of the laggards in the last few years is Suncor. This can be attributed to its almost singular focus on its oil sands projects. But, Suncor is now seriously evaluating non-fossil fuels opportunities. If Suncor can break above the Chart’s declining down trend-line, this would be very favourable for the stock, with greater expectations for further appreciation. [more]

Chart of the Day - S&P 500
Chart-of-the-Day

Chart of the Day – Has the S&P 500 Peaked?

September 17, 2021 Bob Weir

The S&P 500 Index might have reached a near-term peak. The index is struggling to stay above its rising trend-line. It has also experienced a near-perfect, albeit short, “roll-over”. Is this the start of a pull-back? [more]

Chart-of-the-Day

Is Now a Suitable Entry Point to Buy Gold or a Gold Stock?

June 25, 2021 Bob Weir

For intermediate- to longer-term investors, it might be propitious to take a position in a gold ETF before the seasonal strength for gold starts in July. Looking at the short-term for gold ETFs, the June break-down, particularly with the gap lower, suggests bearish tendencies. [more]

Chart-of-the-Day

Technical Analysis – Chart-of-the-Day – Spotlight on the S&P/TSX Composite Index

June 4, 2021 Bob Weir

The S&P/TSX Composite Index (“S&P/TSX” or the “Index”) has reached a milestone. For the first time ever, it has closed above 20,000! From the March 2020 low, the Index has gone almost parabolic, with just a brief pause in September – October last year. This kind of relentless upward move usually ends with a pull-back, often resulting in a significant retraction. Downside support sits at 18,000. [more]