HSE Archives - the patient investor

February 22, 2012

Canada: Potential breakouts

A quick follow-up on the three stocks mentioned earlier in the week.

You can run the screen yourself on Incredible Charts:

Open the Stock Screener
Click the Shared tab
Click the Edit link next to #48895 TMX Potential Breakouts
Review the filters then click the Run Screen button.

Here is what to look for:

Husky Energy (HSE) broke through resistance at 26.00. 63-day Twiggs Momentum oscillator rises above zero, confirming a primary up-trend. 21-day Twiggs Money Flow holding above zero indicates buying pressure.

HSE: Husky Energy

Crew Energy (CR) broke resistance a few weeks ago and is now retracing to test the new support level. Respect of support would confirm the primary up-trend.

CR: Crew Energy

Bank of Nova Scotia (BNS) is testing resistance at 55.00. Breakout would confirm the strong buying pressure and 63-day Twiggs Momentum recovery above zero.

BNS: Bank of Nova Scotia

February 21, 2012

Canada: TSX 60 and potential breakouts

The TSX 60 index is consolidating in a narrow band between 700 and 715. Upward breakout is likely and would signal a primary up-trend. Recovery of 63-day Twiggs Momentum above zero would strengthen the signal. Target for the initial advance is 790.

TSX 60 Index

* Target calculation: 720 + ( 720 – 650 ) = 790

A screen of stocks with low Momentum but high buying pressure, as indicated by 21-day Twiggs Money Flow, reveals a list of 93 potential breakouts (after filtering out stocks with daily Value/Turnover traded of less than $1 million). Husky Energy [HSE], Crew Energy [CR] and Bank of Nova Scotia [BNS] are three that look interesting.