
MY JOURNAL FOR MONDAY MORNING – JULY 20, 2020
NEWS, BREAKOUTS, MOMENTUM PLAYS, & BOTTOMS
MINING
Agnico-Eagle Mines (TSX:AEM) – Daily Chart
Agnico-Eagle Mines is pushing higher from a continuation triangle which is located right below the all-time high while the RSI momentum indicator begins to accelerate higher.
Metalla Royalty & Streaming (TSXV:MTA) – Weekly Chart
Metalla Royalty is threatening to breakout above a major volume by price resistance line after bouncing off the 200-day moving average (which is also the 40-week moving average).
Endeavour Mining (TSX:EDV) – Daily Chart
Endeavour Mining has bounced off the 50-day moving average and is now threatening to breakout above a major volume by price resistance line.
Alexco Resources (TSX:AXU) – Weekly Chart
Alexco Resources appears to be breaking out to multi-year highs from a large base while the RSI momentum indicator begins to accelerate higher.
First Majestic (TSX:FR) – Monthly Chart
First Majestic is threatening to breakout from a giant multi-year continuation triangle and above a major horizontal resistance line while the monthly PPO momentum indicator trends higher.
Mag Silver (TSX:MAG) – Monthly Chart
Mag Silver appears to be breaking out from a giant multi-year continuation pattern and above a major horizontal resistance line while the monthly PPO momentum indicator begins to accelerate higher.
Below is a video I did for StockCharts.com from May 13th where I highlighted the First Majestic and Mag Silver setups:
NexGen Energy (TSX:NXE) – Monthly Chart
NexGen Energy is threatening to breakout above a multi-year downtrend line while the monthly PPO momentum indicator beings to perform a bullish cross.
FINANCIAL
Tricon Capital (TSX:TCN) – Daily Chart
Tricon Capital is threatening to breakout from the apex of a continuation triangle and above a major horizontal volume by price resistance line.
ECN Capital (TSX:ECN) – Daily Chart
ECN Capital is now threatening to breakout above a multi-month downtrend line. A price move above the dotted horizontal resistance line would complete the technical pattern and suggest more upside price momentum to follow.
Thomson Reuters (TSX:TRI) – Weekly Chart
Thomson Reuters has formed a bullish rounded bottom pattern and has started to breakout while the weekly PPO momentum indicator attempts to curl higher near the zero line.
STAPLES
Alimentation Couche-Tard (TSX:ATD.B) – Daily Chart
Alimentation Couche-Tard pushed to a new 52-week high and a new all-time high on Friday. This price action is very bullish as the PPO momentun indicator begins to accelerate higher.
Premium Brands Holdings (TSX:PBH) – Weekly Chart
Premium Brands Holdings has started to curl higher from the middle of a multi-year continuation pattern while the weekly RSI momentum indicator starts to curl near the 50 line. Watch for a breakout as it would suggest a continuation of the prevailing uptrend.
Dollarama (TSX:DOL) – Monthly Chart
Dollarama is threatening to breakout from a multi-year continuation pattern while the monthly PPO momentum indicator starts to perform a bullish cross.
Empire (TSX:EMP.A) – Weekly Chart
After building a bull flag continuation pattern over the last 5 weeks, Empire Company is now pushing up against the underside of a major horizontal resistance line while the weekly PPO momentum indicator attempts to give a bullish sign (a move above the zero line). This technical setup is very bullish and suggests a major breakout could be near.
Loblaw (TSX:L) – Monthly Chart
Loblaw is threatening to breakout from a multi-month continuation pattern while the RSI momentum indicator starts to curl near the 50 line. Watch for a breakout as it would suggest a continuation of the prevailing uptrend.
Metro (TSX:MRU) – Monthly Chart
Metro is setup to breakout from a multi-month basing pattern to a new all-time high.
TELECOM
BCE (TSX:BCE) – Monthly Chart
BCE has started to curl higher off the bottom of a multi-month continuation pattern while the RSI momentum indicator starts to curl off the 50 line. Watch for a breakout as it would suggest a continuation of the prevailing uptrend.
UTILITIES
Algonquin Power (TSX:AQN) – Weekly Chart
Algonquin Power is threatening to breakout from a multi-month falling wedge continuation pattern while the weekly PPO momentum indicator starts to curl higher off the zero line. Very bullish.
Fortis (TSX:FTS) -Monthly Chart
Fortis has started to breakout from a multi-month continuation pattern while the RSI momentum indicator starts to curl higher.
Emera (TSX:EMA) – Monthly Chart
Emera has started to breakout from a multi-month continuation pattern and is now threatening to breakout above a major horizontal volume by price resistance line while the monthly RSI momentum indicator starts to curl higher.
OTHER SETUPS TO WATCH
Converge Technology Solutions (TSXV:CTS) – Weekly Chart
Converge Technology has begun to breakout higher from the apex of a multi-month continuation pattern which is located just below a new all-time high.
TMX Group (TSX:X) – Daily Chart
TMX Group has broken out from a continuation triangle and is now threatening to breakout above a major horizontal resistance line to a new all-time high. Very bullish chart.
Parkland Fuel (TSX:PKI) – Daily Chart
Parkland Fuel is setup to breakout from a continuation pattern. A breakout above the 36.08 price label would complete the bottoming process and suggests more upside momentum to follow.
WSP Global (TSX:WSP) – Daily Chart
WSP Global has started to breakout from a falling wedge bottoming pattern and above a major volume by price resistance line while the PPO momentum indicator begins to push higher.
MOMENTUM ALERT SIGNALS 📡
Have a great day! 🙂