Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the INK Canadian Insider Index continued its early-2019 surge and added 37.43 points to reach 1089.07 for a 3.6% gain. The Index outperformed the SPDR S&P 500 ETF (SPY) which climbed 2.6%. In all, the INK CIN is now up an impressive 10% from its December lows.
MACD edged higher to 12.54 for a 0.29 point gain. RSI shot up 12.7 points to reach 69.4, a level it hasn’t seen since last May. Support is at 1040 and 1063 (50 day moving average). Resistance is at 1089 and 1110.
The INK Canadian Insider Index continues to enjoy capital’s return to oversold and undervalued stocks. Its current RSI reading is high relative to where it has been trading for many weeks and is also nearing overbought territory; however, with bullish movement in stocks increasingly attracting the attention of investors, one cannot rule out a further sprint higher over the next week or so.
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