The Canadian Technician

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is also the author of Stock Charts for Dummies (Wiley, 2018).

Latest Posts

The Canadian Technician

Canada Is Try To Push Through - Webinar Skim 2016-09-06

by Greg Schnell

Canada keeps inching higher but the progress has been slower lately. In 4 weeks, the $TSX was up 6 whole points from the last look at this chart on August 9th. The Bullish Percent Index is still in very solid breadth territory with 80% of the stocks on a buy signal. On the $TSX chart, you can see that this level has been important in the past as a support resistance level in 2014-2015 around the topping in oil and the Canadian rail stocks. The current $TSX price is  also the level at the oil price peak in 2008. During the webinar, I demonstrated some Read More 

The Canadian Technician

Nuvo Research (NRI.TO) Breaks Above Year Long Resistance

by Greg Schnell

With all the news about EpiPen recently, the pharmaceutical industry feels more like the needles-under-cuticles industry lately. Nuvo Pharmaceuticals (NRI.TO) seems to be bucking the trend with its products. In the middle of the EpiPen controversy, this stock is able to break out to new 52-week highs and also above a serious resistance level for the stock. I like the breakout here after creating higher lows and now popping through to new highs. There is a slight level of resistance with one weekly closing high at $8.02 and one at $8.45 from a few years Read More 

The Canadian Technician

Ballard Power (BLP.TO) Kicks In The Backup Power Supply

by Greg Schnell

One of the beautiful things about technical analysis is it quickly evaluates a stock. Without a lot of debate, you can quickly understand a trend. Is it up or down? Well, this morning, Ballard (BLP.TO) crossed into one of my scans again. What used to be one of the high rolling stocks 15 years ago, is actually rising up after being in a long-term meltdown. I'll leave it to you to decide if you want to investigate a micro-cap stock of $350 Million, but it has a lot of interesting qualities that made it worthy of an article this morning. We can see the stock has popped up many times before Read More 

The Canadian Technician

Industrial Alliance (IAG.TO) Puts New 52 Week Highs In Place

by Greg Schnell

Industrial Alliance (IAG.TO) rang the new 52-week high alarm this week. It also is very close to breaking out to new 3-year and all time highs. I wrote about Canadian Insurance companies  a few weeks ago mentioning how weak they all are. The one exception was Industrial Alliance (IAG.TO). With Dr. Yellen talking the market sideways in Jackson Hole, it didn't really add fuel to anything on the interest rate sensitive picture.  This stock is showing some great leadership and the 2-year highs in momentum (MACD) are encouraging. Usually, you need a Read More 

The Canadian Technician

Canadian Banks Continue To Find All-TIme Highs

by Greg Schnell

Canadian banks have been some of the best-performing banks in North America. While that isn't a stellar statement of strength, they are doing a good job of outperforming their beaten down peers. As the market participants wrestle with the Fed Yin-Yang every day, there is a quiet strength starting to show up across the large cap banks in North America. Let's zoom in on the Canadians as they reported some earnings this week. Bank Of Montreal (BMO.TO) had a great week. The chart is breaking to new highs, moving above a consolidation range. The volume accelerated on the breakout which is nice Read More 

The Canadian Technician

Martin Pring And Greg Schnell Are Live From Pring Studios 2016-08-23

by Greg Schnell

Martin Pring and Greg Schnell are getting together in Pring Studios in Florida to do a live debate webinar. The setup is compelling as many of the major charts in the world are lining up for a major shift. I've nicknamed the webinar 'Back From The Precipice' as the charts appear to be setting up for a major trend change. Click here to Register for Back From The Precipice with Martin And Greg. Normally Martin's webinars are for members only. We are going to make this a wide open webinar and we have a series of charts that members will be able to save to their personal accounts Read More 

The Canadian Technician

Canadian Insurance Companies Are Some Of The Weakest Stocks

by Greg Schnell

Looking through the Canadian insurance companies, I was not surprised but I think it is worth noting how weak they all are. When an entire industry group makes up a very weak sector, it is good to avoid. But there is always a time to get back in. This article shows a suggested methodology for doing that. The SCTR information can also be used to help us see turnaround situations. We can set an SCTR level as a target for them to break out. When they stop being the weakest stocks as a group, we can start to look at them again. This style of investing with the SCTR is harder, but you are Read More 

The Canadian Technician

The $TSX Holds New 52 Week Highs

by Greg Schnell

The Canadian Stock Exchange ($TSX) had not made new 52-week highs for a couple of years. Finally, in August we started to hit new 52-week highs. Our last 52-week high was in September 2014. But one of the most important parts of this rally is that markets around the world are breaking trend lines, or new 52 week highs, or all time highs.  For example, Germany ($DAX) broke through a long downtrend this week. That is an important chart regarding Europe as Germany represents Europe's strongest economy. It also made the 2016 highs this week Read More 

The Canadian Technician

Is Canada's New Economic Engine A Marijuana High?

by Greg Schnell

Canopy Growth Corp (CGC.TO) just moved from the Venture to the $TSX exchange. Well, someone noticed. The stock absolutely soared to new highs. This article could be filled with puns about new highs, stimulus, kicking off a weed-end, etc. etc but I shall resist! With political developments favoring the stock and a method of investing in the cannabis trade on the main exchange, the stock couldn't be contained in old price ranges.    For old investors like me, we'll look for an entry that won't be found in the black Read More 

The Canadian Technician

Travelling Through The Montney VII.TO BIR.TO PPY.TO POU.TO

by Greg Schnell

The age old question for energy investors rocks back to the top of the stroke every day. Is this the time to get into or out of Energy stocks? Is the industry ready to speed up? This is the sixth article in a series about a 1700 Kilometre (over 1000 miles) road trip that I did three weeks ago. You can follow these links to the first five articles.  Canadian Transportation Companies Start My Tour Canadian Forestry Companies Under Review Canadian Pipeline Companies Under The Microscope Canadian Read More 

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