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S&P/TSX Composite

The TSX is forming a rare Head & Shoulders top reversal patternA head and shoulders top is a common chart pattern in technical analysis that signals a potential reversal from an uptrend to a downtrend. Here’s how it works: The Setup: The price of an asset is rising in an uptrend. The pattern forms as the price creates three peaks (or highs) with two valleys (or lows) in between. The Pattern: Left Shoulder: The price rises, then dips slightly. Head: The price rises again, this time higher than the first peak, and then dips. Right Shoulder: The price rises once more, but the peak is lower than the head. This is often close to the height of the left shoulder. The Neckline: Imagine drawing a line connecting the two dips (valleys) beneath the peaks. This is called the neckline. The neckline can be flat, sloping upward, or downward. The Signal: When the price drops below the neckline after forming the right shoulder, it’s considered a breakout or a confirmation of the pattern. This breakout suggests that the uptrend has ended, and the price may now move downward. Why It Matters: Traders often use this pattern to predict that the price will fall after the head and shoulders top forms. The distance between the head and the neckline can help estimate how far the price might drop. In simple terms: A head and shoulders top looks like a person’s head with two shoulders on either side. It’s a warning sign that the price might stop going up and start heading down.
TSX:TSXShort
by ChristieCapital
Trade Idea | AQN | Algonquin Power & Utilities Corp NYSE:AQN is a Canadian investment holding company that engages in energy generation and water distribution facilities. We are starting to buy shares that are trading at TSX between $6.00 - $6.96 as we think that this will base on this level. Our stop on this long position is at $5.08 if our bull thesis won't work. We think the company will benefit from the rising of electric demand and renewable energy transition. NYSE:AQN will improve it current asset from LS Power recent acquisition of renewable energy segment that will be use to further increase its cash flow to be used for company development.
TSX:AQNLong
by blue039
XIU / TSX (Toronto Stock Exchange)The TSX / XIU (ETF) is going down over the next 8 months, no doubt in my mind as a Canadian. Housing is not selling, starts are being cancelled / going bankrupt, we are over-populated and our infrastructure can not handle it. The rate decreases won't save our over-leveraged banks (real-estate, mostly residential, down 20% in many areas and still barely any buyers and many looking to exit - investors primarily). No way this holds these levels. I bought Feb 2025 $34 puts for $0.65 CAD. I expect this could be a ten bagger, especially if they finally admit Canada and USA and the world is in a massive recession. It is undeniable here. Foodbanks are empty and people are too strapped to donate (or are sick of seeing "students" from India eating "free food" meant for Canadians - many of whom are struggling). This stock price is a joke. Good luck to all!
TSX:XIUShort
by mraso30
3
Aurora: Electrified ⚡Aurora continues its electrifying trajectory. The price dipped further into its inactive target zone during the last trading week and is now visibly striving to resume the primarily expected uptrend. These efforts should soon yield bullish results. Aurora’s next target, the resistance at C$1.59, lies approximately 60% away. This resistance must be surpassed to grant wave (1) in magenta, its well-deserved peak a bit higher. An intermediate correction is expected to pull the price back slightly.
TSX:ACBLong
by MarketIntel
2
TSX, Setting Up To For Possible A Alteration In Perspective!Hello Traders Investors And Community, Welcome to this analysis where we are looking at TSX 4-hour timeframe perspective which is showing up some quite interesting signals at the moment. As the main market has recovered from the corona-breakdowns seen this year the meaningful question is now if these recoveries are fundamentally backed to follow-up into a healthy market environment or if the bear-market-pressure will increase again similar to those price-actions contributed this year, as the bear-market is still not confirmedly over and many major indices trading below all-time-high conditions as well as the stock market, in general, we should not keep the bearish scenario by side not mentioning the huge divergences between real economy and stocks as the rallies aren't necessarily backed while smart-money is staying out retail is rushing in which can reverse the environment also in the other direction. Looking at my chart now you can watch there that the index is moving in this preliminary important ascending-channel marked in grey where it consolidates more or less to the upside forming some uptrends. Furthermore, the index has still a major gap at the upside within the 17000 levels marked in orange waiting to be filed the next time. This gap-fill will be highly possible as others have shown similar formations and such gap-fills are likely to be filled shown in past price-action evidently, but what is also a fact is that after such gap-fills often supply enters the market and the price firstly makes a smaller when not bigger pull-back to the downside when bulls aren't strong enough in this level, such a mechanism can also happen here as it is marked in my chart. When the index shows bearish pressure right after the gap has been filed and tests the lower boundary of the ascending-channel it needs to bounce there and confirm it as support when considering further bullishness otherwise when this does not happen and the price moves below this boundary the possibility for bearish pressure to the downside increases heavily this will show up also with a confirmation below the 60-EMA in black and continued bearish movement, overall this will form a bearish environment till there is solid support found which can reverse the situation and back the index up when this happens we will see how the dynamic is playing out and if there can be a reversal to the upside, taking these factors into consideration we should not ignore the bearish perspective as also new corona-fears can hit the market, therefore, it is important to be read on it to not fall apart when it is showing up. In this manner, thank you for watching the analysis, support for more market insight and all the best. "There are many roads to prosperity, but one must be taken." Information provided is only educational and should not be used to take action in the market.
TSX:TSX
by VincePrince
1
Shopify - It's Bear *and* Bull Hunting SeasonBefore Shopify's 10:1 split, it was trading for $1,800 USD. Notable because it was the Toronto Stock Exchange's biggest stock, trading over $2,000 CAD. This was the kind of stock that all the eyes used to be on. The company processes payments on the Internet and the work from home lockdown glory days are gone. The next time we're all under house arrest will be because the governments want to act like the Chinese Communist Party; the priority won't be keeping people stable and placated like it was in 2020. Things will be scary, and so the fundamentals for this company will never be as good as they were before. That being said, it looks like we're about to head/already heading into what I believe is a tech bear trap before Nasdaq goes big or goes home, a two-sided move which I outlined a few weeks ago: Nasdaq NQ QQQ - Reality Will Be a Tough Pill for Permabears Shopify is something to keep on your radar because, no matter how they file shelf offerings to dilute their share count and how that ought to affect share price because it's a really a function of marketcap, Shopify is the kind of thing that likes to go up and down 10 or 15 percent in a day, and when it does go, it has significantly major upside potential, which you can see on weekly bars: And look, I get it, $45 --> $30 --> $115 is a real too good to be true sort of call, but it's not without its principled rationality. After 179 trading days and 263 real days of consolidation, Shopify finally started to take out highs in the earliest part of '23. This comes after it took out significant long term lows in the October Low of the Year for indexes. These two factors combine to tell you that the algorithms no longer point down, but point up. It's only that there is the risk that the "up" peaked when the stops over $50 were taken and everything is going down for real now. I'm only partially psychic. You'll have to get Jamie Dimon and Ken Griffin to tell you the concrete manifestation of what's going to happen. But Shopify's price action is not that significantly different from what Netflix has done, except Netflix just never bothered to run the bottom and never really liked to go down, and has already gone up significantly. What bears are missing from their doom thesis is this: The markets will crash when the Federal Reserve pivots, not before. It's a "buy the rumor, sell the news" equation, my friends. They've been hiking for over a year, and long term, none of the big 3 indexes are actually bearish on monthly or weekly candles. What people don't realize is that everything is setting up for a situation where inflation appears to be waning and will continue to appear to be waning for the next few months, and it's because we're in winter. This apparently deflationary environment will set the stage for the narrative that leads us to Nasdaq 14,500+. Natural gas, oil, and gasoline will all supermooncycle in the summer because of significantly increased societal demand, and that means food, goods, services all go up too. And in the meantime, the Fed is going to continue to hike at least 25 bps a session. So they're going to hike and hike and we're going to walk right back into big inflationary numbers starting in late May and through July while the FFR is already too high. The Fed won't be able to start hiking 50 and 75 bps when we're already at 5.5% because the national debt is so super bloated thanks to the U.S. socialists spending trillions and trillions of dollars on so-called "stimulus," which really just amounts to raiding the Treasury and the future generations like pirates. And so, the Fed is going to be forced to pivot at the worst time: in the middle of inflation that was worse than 2022, and the two factors combined is what is really going to cause the big gap downs. And the gaps are going to run, because the Fed obviously won't be able to bail out the market this time, so there won't be any hopium for retail to huff. There are other things that can unfold geopolitically around the same time, like the collapse of Xi Jinping and his Chinese Communist Party, Russia defeating NATO in Ukraine, and large scale environmental disaster and significant genuine pandemic diseases that are beyond the control of the globalists and their technology. All of this combines to tell you that the dumpster the bears dream of is far away, which means that much higher prices are coming. It presents a death trap for people who are obediently following Discord signal groups, Zerohedge, Fintwit, and CNBC, instead of thinking for themselves, and an opportunity for the "few" who understand that "The Big Short" is being set up, and that "The Big Short" inherently means a run back towards high levels. So buy this coming dip, don't capitulate, and enjoy the fruit of the moon mission that is the biggest exit pump of all time. Just make sure you get out, take profit, and keep your risk light. You have to keep your eye on the Chinese Communist Party. It's been two weeks since the Lunar New Year and all the resulting travel stimulus from hundreds of millions of people being freed from months of house arrest have finished, and now there are reports that there are multiple significant mutations of Omicron SARS-CoV-2 emerging all over the world. Meanwhile, if you check Our World in Data or the other aggregators, you'll see that the CCP claims there have been 0.00 new COVID cases or deaths since roughly Jan. 6. This is obviously totally impossible. Not to mention the Communist Party is a chronic liar that only cares about its "stability" and isn't one bit concerned with how many people might die as it lies to the world and the Chinese people. All of this should tell you that the pandemic situation is volatile outside of China, and extremely dangerous inside of China. The situation could devolve at any time, and at any time you can be stuck on the wrong side of a gap. What you have to understand about the Communist Party and the globalist factors who have cultivated its methods and ways, who seek to export them globally for the unveiling of the One World Government/New World Order, is that the Specter of Communism's life's work is to destroy your life and to destroy humanity. No joke. Its fundamental wish and its fundamental goal is to ruin each and every person and each and every thing. And so, the test for all of Creation is whether you can evidence, with both your words and deeds, that you don't want the Devil Red, and instead you want to enter the future that is the resurrection of China's 5,000 year-old culture of Heavenly Dynasties. The choice is yours. It's your job to choose. It's my job to tell you these words.
SLong
by LordWrymouth
2
BNS Momentum Trade " After Earnings"TSX:BNS After we are clear of earnings, I'll be looking for the price to pull back to the Nov 28 resistance of 71.50 near the 50 SMA and 50 EMA (old resistance becoming new support). If we can get confirmation with a reversal pattern double/ triple bottom or inverted Head and Shoulder, I'll be looking to enter with Real Life Tradings momo indicator. Stop loss will be placed just below the reversal pattern and the target will be at 100 WMA near $79.00. I have a few concerns with hitting our target: 1) We might have the 200 SMA as resistance. 2) If The 50 WMA backs up the current resistance at 74.30. If we are able to break through both resistances this could be a good 2.5r - 3 r trade. If we fall through the 71.50 level, I'll be looking for a similar setup at the 69.00 and 65.00 areas. Remember to always manage your risk when trading and have a stop loss. Happy trading!
TSX:BNSLong
by DustinL89
TSX Energy XEG 12.66 2022 Low and more ?I was overweight energy for most of 2022 selling my exposure around the summer and the remaining in the fall. It was not and easy decision but the trend in WTI and Brent prices was too bearish to ignore. Seems to me now It's only a matter of time we take out the 2022 low of 12.66, the more intriguing question is where we go once we get there ? On the weekly timeframe top left we can see the 50 weekly ma acting as support for most of 2022 now we appear to be losing it. The Daily timeframe top right we can see the 20 day ma the black line has finally crossed below the 200 day ma you have to go back to January 2020 the last time this took place and before that fall 2018. Seems obvious it's only a matter of time before all moving averages are below the 200 on the daily. I am a long term energy bull due to the supply constraints we are facing and lack of investment but for the beginning of 2023 first quarter at least with calls for a recession growing I don't see the upside for Oil or energy stocks, yes I know they pay great dividends but I don' t think this will save them from a market downturn. I am patiently waiting on my cash to re enter this sector ideally in the spring
TSX:XEGShort
by AthenaCapital
A very comfortable time to buy in - short termVery beautiful chart from Toronto Exchange Market these days. If you have TSX tickets it is now time to buy in and hold for the uptrend. TSX broke out of the downtrend channel and I have no reason to believe it is a "fakeout". Good indicator support and good trend lines. I'm expecting a small amount of correction between 19400 and 19200 since the RSI index is still very high, but it would not be back in the downtrend channel. Level 0.236 Long Term Trend-based Fibonacci is where I would be expecting a correction. As far as the scope of this analysis goes, I will be adding to my portfolio aggressively. I will do analysis of major tickers affecting TSX in the ext month or so, so make sure to follow me to not miss my analysis on the Canadian tickers!
TSX:TSXLong
by soheilsdgh