Read the entire StockScores Perspective Newsletter titled Opening Hour Research
STRATEGY OF THE WEEK
Today I ran a Market Scan with the following settings:
- Exchange = All Canadian
- Gain/Loss > 1%
- Number of Trades > 1000
- Candle = Bullish Candle
My aim was to look at the stocks that were moving higher on the TSX today so I could then judge the chart pattern. I want to see a break through resistance from a rising bottom, which is a show of optimism.
What stood out today was that there was a lot of stocks from the Energy sector making a move higher, breaking pull backs from a rising bottom. This is a good short term trade signal for these stocks. Keep in mind that the Energy sector is still in a long term Bearish trend so these trade ideas are only for short term moves at this point.
STOCKS THAT MEET THAT FEATURED STRATEGY
1. T.PWT
T.PWT is making a nice break higher from a rising bottom today. Support at $1.40.
2. 2. 2. T.TOG
T.TOG pulled back to its short term upward trend line and bounced off of it, a good sign that it will move higher over the next week or two. Support at $6.25.
Read the entire StockScores Perspective Newsletter titled Opening Hour Research
