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Late to the Game For those who are interested in my TSX watches: DOL is one that I play frequently as a swing trade whenever a long opportunity presents. However, the TSX seems pretty late to the game in terms of the world dramas (recession, interest hikes, etc.) however the TSX Index has fallen quite a lot, with XIC (TSX Index ETF) falling 14.8% from its recent ATHs. As is the style in Canada, we should soon be following the US's lead in terms of its massive bear market shortly and DOL will likely succumb to that reality. DOL Currently: - Neutral on daily RSI - Forming a bull pennant/symmetrical triangle on daily and 1 hour time frames: - Trending very close to ATHs - Has two major ascending supports located immediately underneath it, one currently around 66 to 65$ range (in gren) and the other, the MAJOR one that will make or break the stock (in red), sitting at around 61. You can see why this is the make or break support in the chart below: Verdict: - I really do anticipate the TSX to follow the NYSE in the bear market. Historically every time NYSE went into a bear market, TSX followed shortly after and the writing is on the wall with XIC. - I am short biased here; however, I would wait for confirmation. Let us see a break down of this bull pennant before taking a short position. Possible scenarios shown below: Is it possible this breaks to new ATHs? Yes! WMT, COST and retail in general were doing well. DOL has amazing fundamentals and is technically a staple of the Canadian economy. We did see a sort of sector rotation into these necessity markets on the NYSE during the start of this bear market with WMT, COST, etc. making ATHs while everything else was tanking. HOWEVER, if we look at other Canadian retailers such as Loblaws we can see the writing on the wall: My thoughts and opinions! Feel free to comment, question and/or critique! Interesting posting a TSX idea haha, would to hear from fellow TSX traders! Take care
TSX:DOL
by Steversteves
G2 Technologies Canada Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series Focus: Worldwide By Sun Storm Investment Research & NexGen Wealth Management Service A Profit & Solutions Strategy & Research Trading | Investment | Stocks | ETF | Mutual Funds | Crypto | Bonds | Options | Dividend | Futures | USA | Canada | UK | Germany | France | Italy | Rest of Europe | Mexico | India Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision. #debadipb #profitsolutions
CSE:GTOO
by Sunstorminvest
Telecure Technologies Canada Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series Focus: Worldwide By Sun Storm Investment Research & NexGen Wealth Management Service A Profit & Solutions Strategy & Research Trading | Investment | Stocks | ETF | Mutual Funds | Crypto | Bonds | Options | Dividend | Futures | USA | Canada | UK | Germany | France | Italy | Rest of Europe | Mexico | India Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision. #debadipb #profitsolutions
CSE:TELE
by Sunstorminvest
VEGA.CN Pulls Away from Plant-Based PeersNotwithstanding the broader downturn in both global markets and the plant-based sector, PlantX (CSE: VEGA) has been steadily tracking gains over recent weeks that leave the stock +100% over the past month as of 10:30AM Monday June 13th. Both today and Friday VEGA volume was >1M, i.e. an order of magnitude above its avg 3mo volume. From what I can see, two major catalysts may be behind this dramatic jump in SP: -Last week the Future Markets Research Tank released an equity research report that focused in on PlantX in a broader comparison with its sectoral peers. The day following the release saw a significant jump in volume, indicating that the equity research may have exerted a strongly bullish influence on retail and institutional plant-based investor alike, in particular as liquidity contracts and investors are searching for safer plays to hedge risk to the extent possible in today's bear market. -Today PlantX released revenue metrics for last month which are overwhelmingly positive. In May the company generated $1.5M CAD in revenue. Quoting directly from the PR, "PlantX's gross revenue for May 2022 increased by $823,842 compared to May 2021, when the Company achieved gross revenue of $717,944 net of wholesale revenue, representing year-over-year gross revenue growth of approximately 115%." Not too shabby, especially given the contraction of consumer spending power amidst sky-high inflation and worsening macro-economic conditions. We'll see how global markets perform this week and what VEGA's trajectory forward will look like, but its safe to say that PlantX has been leading the sector in recent weeks in terms of price action gains and emerging profitibility. MACD poked its head across the x-axis today for a bullish breakthrough, and I personally am feeling optimistic.
V
by EagleEyeAnalytics