AthenaCapital

AthenaCapital

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...

AthenaCapital

Telus just released their earnings today and they were just as good as estimated but never the less the stock had no reaction and is now selling off. The chart looks real ugly if you look at the Monthly and Quarterly window we have managed no follow thru after the big move down to start the year, the bulls are running out of time to step in and take this higher....

AthenaCapital

We are just about half way thru earnings season for the TSX, with the next BOC meeting in September 7th and another hike of minimum 50bps is already guaranteed I think it opens up a great period for the TSX to make a new low. Earnings have been better than expected for a lot of the bigger companies in all sectors from industrials, utilities, staples and of course...

AthenaCapital

Seems like a pretty good spot for a quick buy with a tight stop

AthenaCapital

If you're into typical patterns it doesn't get much cleaner than this.

AthenaCapital

I am buying this here with a stop loss around $45 right around the 200 daily ma. if it breaks below I will wait and try to re enter. Next earnings in May, last quarter estimates were 40 cents they reported 65 cents, this quarter estimates are 24 cents and I am willing to bet they will come well over that again.

AthenaCapital

After making a high of 87.32 in may 2021 we had a pullback of exactly 20% to 69.42 low in October Now at $75 and only down 15% since that may high the chart is looking good for a reversal. The action on the monthly window is quite positive now that it has broken to the upside forming an outside candle in the process which is bullish That being said we have 23...

AthenaCapital

Second test of the 200 dma for the utilities and what comes next ? Obvious prior tests of 200 dma have led to nice rallies will we see the same this time ? Utilities are notoriously defensive stocks held as last resort for safety and yield My thoughts are stay patient and don't be a cowboy for now lots of stocks in this sector are showing a lot of weakness...

AthenaCapital

Always important to keep in mind the bigger picture Textbook patterns. Test of 200 dma again most likely in the short term. Good opportunities to add more exposure to this sector just be patient for now

AthenaCapital Updated 

Seems to be only a matter of time before we hit ATH and probably go straight thru it given how software plays have behaved lately. Not much else to be said

AthenaCapital Updated 

We have been going sideways since march, I am leaning bullish here given we haven't broken any significant levels to the downside pointing more to an accumulation period / profit taking, no signs the sellers are gaining over hand Quarter setting up nice hammer to the upside potentially and the yearly can still go 2 to the upside with 3 months left.

AthenaCapital Updated 

Nice breakout to the upside on the monthly and weekly here We want to see that follow thru over the rest of the week I am looking at some monthly calls at $16 for November New James Bond October 8th you already know I will be there

AthenaCapital Updated 

I see no reasons why this won't go back to test 2018 highs of 14.84 and go beyond that into the end of the year. Positive macro around oil and canadian producers right now Lots of calls for $90 even $100 wti from goldman sachs 2018 WTI made a high of $76 before getting slaughtered all of 2019. I believe this time around we have the inverse scenario.

AthenaCapital Updated 

After making ATH in April this index has spent the last 5 months going sideways. I am looking for the month to break 2 to the downside and to inevitably hit the 200 dma at the very least. 20 days left on the monthly candle so lots of time left Be patient

AthenaCapital Updated 

Looking for $35 to break out the quarterly candle to the upside Monthly already 2-2 to the upside which is the strength we wanted to see ATH for this stock is 36.48 set in early 2018 Looking at some monthly calls for Nov 19th strike at 35/36

AthenaCapital

One of the largest dividend payer on the TSX set to increase that dividend by the end of year/early 2022 They move 25% of nat gas in canada and us on top of solid portfolio of renewable assets Doesn't get more blue chip stock than this. I like to focus my portfolio on companies that are leaders in whatever field they operate in and have shown clear outperformance...

AthenaCapital

We are currently only - 4% from ath of 4545 Looking at the quarterly time frame at the top right corner we can see a clear shooting star formed On the monthly (bottom left) we are already 2 to the downside after a 3 candle which is something important to pay attention to. Look at previous 3 (outside candle) on the monthly and you will see they usually signal a...

AthenaCapital

Bullish thesis around this company revolves around the continuing pick up in drilling and well activities throughout alberta, saskatchewan leading to increases demand for their services which they have already talked about in most recent earnings filed. They also highlighted having issues finding enough workers to fill all of the demand they are getting.