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Canada

USD/CAD -15/07/2022-• Falling oil prices, massive USD strength underpins the pair's bullish move • Following recession fears, oil prices are trading sharply lower in the recent days and are now back to pre Russia-Ukraine war • Higher demand for safe haven USD, is putting pressure on all the pairs across the board • As a result, Loonie is losing strength against the Greenback, trading back above 1.30 • Hawkish BOC rate hike failed to convince bears, which surrendered shortly after reaching levels near mid 1.29s • In my recent posts, I highlighted a bullish ascending triangle pattern and stated that a successful, clear break above it would trigger a massive rally of the pair • So far, the breakout is successful thus I am expecting further rally towards 1.3630 level, a previous resistance that held prices twice in 2018, which also coincides with the 61.8% retracement level of the 2020-2021 major decline • Bullish trend remains intact as long as above 1.2950
Long
by RamziAbouAbdallah-CMT
TSX trend channel CHAOSA quick follow up to my previous posts about the TSX or the colony of Canada, if you prefer. Quick observations on a long timeline weekly chart: We bounced off the top of the channel top for over a year Major roll over into a recession/depression/stagflation ... take your pick at this point Commodity super cycle talk seems to be done for now as we can assume the markets are generally manipulated (research gold) My expectations: We will at least hit the middle of the channel (middle line) and if things continue to get bad (nukes anyone), look for an overshoot to the downside. BUT... if the volatility shoots up in the the highs of the year, I can guarantee big ass bear market bounces. So go long on vix highs before you get back to the bear side. Hope that helps?
TSX:TSXShort
by coremonster
1
CPG Quality mid-cap energy, 15-20% near-term 1W upsideCrescent Point Energy Fundamental Analysis Price to earnings ratio is around 1.4X (substantially lower than the sector and equities broadly) Q1 Revenues were $950 Q1 Margin was 95% income to revenue Following a 25% decline in recent price from $10.25 per share to below $7, $CPG appears to technically bullish on a long-term (6-9 months). Energy equities has a recent pull-back following the June inflation reports, however, upward momentum has just built up with the latest price now trading higher than the price 10 bars ago. The Commodity Channel Index on longer trading scales (4H) shows that $CPG has been oversold. There is significant support channels at $6.90 (-5%) and resistance above at $7.95 (+9.42%). Above this, the next channels are $8.72 (+18.8), and $9.18 (25.1%) Risks: Exposed to global crude oil supply levels. Crescent Point Energy primarily is involved in the extraction of crude oil from Western Canada. Demand remains roughly around pre-COVID 2019 levels and therefore $WTI pricing is driven predominantly by supply. Currently, the price closed to below the 3-month mean, while the fundamentals of global crude supply have not changed significantly. There are reports that the conflict in Europe may advance to various possible scenarios, which may (a) see the Russian Federation limiting and stopping export of oil to its current trading partners in Europe, bringing $WTI to above $300 USD based on current supply and demand figures, and (b) the G7 and EU may cap the price they may pay for Russian oil. Competitors and related stocks in sector: $VET Vermillion Energy $OBE Obsedian Energy $WCP Whitecap Resources
C
by kelmokca
PlantX (CSE: VEGA)(OTCQB: PLTXF) Undergoes A Bullish BounceAfter tracking a multi-week downtrend amidst notable levels of background volatility both on the CSE and global exchanges as a whole, PlantX is riding upwards on a burst of bullish investor sentiment. VEGA.CN is trading +66% and PLTXF +45% since market open 5/19. While the plant-based sector as a whole has seen gains in recent days, PlantX's double digit gains outpace the competition by a significant factor (see VEGN, CSE Comp Index, and TTCF for examples of sectoral peer performance). VEGA.CN has likewise seen a surge in trade volume, as reflected in the PVT below and testifying to an uptick in investor engagement. Meanwhile, momentum indicators from the MACD point to the initiation of a bullish reversal. While a technical pullback is to be expected after such rapid gains, PlantX's share price gains in the past week are a sign that the market is responding positively to robust MoM revenue growth and an aggressive M&A strategy that is quickly transforming the company into a plant-based ecommerce giant serving an international consumer base.
VLong
by dave_kellr85