Stochastic, MACD, Chaikin Money Flow (CMF)
This is a thread to discuss the TA merits of Canadian stocks.
There are two rules.
First -volume should have been a minimum of $100,000. per day for at least the past five trading days.
Second -Either or both, Stochastic and MACD should be indicating a trend, supported by CMF.
- - - Two indicators out of three ain't bad. - - -
As many of us are novices to TA, please feel free to explain your technical analysis.
For my charts, I am currently using SharpCharts.com
Here's a link to a typical chart with the above indicators.
stockcharts.com[w,a]daclyimy[dc][pb10!b50!b200!h.02,.20][vc60][iUd20!Ub14!Ll14!La12,26,9!Lp14,3,3!Lc20]
Here's a link to a stock scan at StockCharts.com that I have found provides some good TA prospects on the TSE (and other exchanges).
stockcharts.com
Here's a link to my web site where there are some TA examples, and some current charts I have looked at.
www3.sympatico.ca
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Please Note
I am a novice chart reader giving opinions that I hope will help me and others learn some more about Technical Analysis.
My opinions are not meant to influence anyone's buy or sell decisions.
Sometimes I'm right, sometimes I'm wrong.
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My typical charts now (April 20, 2001) show the following indicators:
CCI - an oscillator that often gives reliable oversold and overbought signals.
RSI - an oscillator that also gives fairly reliable oversold/overbought signals.
Candlestick Price Chart - presenting daily open, close, high and low data for a six month period.
Moving Averages (on the Price Chart) - I have been using 10, 50, and 200 day Moving Averages. Some of our threadsters use different MA's. Moving Average crosses, either of the daily price over various MA's, or of each other, are often significant.
S.A.R. - Stop And Reverse dots on the price chart are sometimes useful indicators of a change of price trend, a Stop And Reversal.
ADX - the ADX line (heavy black) is used to establish whether a strong trend (rising ADX) or a weakening, non-trending period is in effect for that particular chart.
In trending (rising) periods, trend following indicators (MACD and MA's) are perhaps more valuable.
In non-trending (flat or falling) periods, oscillating (Stochastic, CCI, RSI) indicators may be more appropriate to use.
+DI, -DI (within the ADX section) - these lines are indications of buying strength.
It may be useful to use a cross of the +DI over the -DI as a buy signal in conjunction with other indicators, and to use the opposite cross as a sell signal.
MACD - my primary indicator for buy signals. (Especially in a trending (see ADX) market.)
Stochastic - my primary indicator for sell signals. (Especially in a non-trending (see ADX) market.)
Chaikin Money Flow - an indicator of the strength of money flow into or out of a stock.
Welcome to Ahh Canada - 2 out of 3 ain't bad.
Please enjoy, learn, and contribute. |
