INK Canadian Insider Index working hard to bottom

Nicholas Winton
Mon, 03/27/2017 1:19

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. The Index managed to steady itself for a second week in a row, though it did shed a miniscule 0.34 points, closing at 1163.86.

Resistance is currently at 1166 (its 20-day moving average) and above that at 1183 (its 50 day moving average). Support remains at 1150 and 1147 (its lower Bollinger band).

The Index's momentum indicators appear to have stabilized following the Index's sell-off from its late February highs. The Index's short-term momentum indicator (RSI) rose for the second week in a row gaining 2 points, while MACD slipped 0.5 points to -7.

Last week, MACD came close but did not generate a buy signal. However, it has begun to build a base of support at its lows over the last couple of weeks and now finds itself within a strong day or two of generating a buy signal once again. The best news for the bulls is that RSI is revealing an upward tilt which may telegraph a new uptrend. A move above 50 will be key in getting the Index's engine up and revving once again.

affiliate tracking url | Nike Air Max 270

Category: 

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).

No Comments


Top