TCKRF trade ideas
Teck long opportunityHello everyone, we are back with yet another technical analysis. I hope you guys have enjoyed the past week, whether it be trading crypto, stocks, or currencies. The technical analysis today will be centered around the idea of TECK hitting 17.09.
Elliottwave analysis: My elliott wave analysis is kinda cluttered, some I'll try my best to break it down for you. The move to the 17.09 mark, I believe will be the wave 5, of the wave C, or the greater wave 3. The reason why I don't believe this will be the wave 5 of the greater trend, is because then we would have to assume that the wave C ended at the 15.70 range, which wouldn't make much sense since there are no fibonacci ratios there. Instead, I see this as the 3rd wave of the wave c, the retracement being the 4th wave of the wave C, and this next move up being the 5th wave of the wave C. Taking a projection from the start of the wave c, to the wave 3 top, to the wave 4 bottom, we can anticipate the wave 5 hitting the 0.8 fib range, which is around 17.50$. A break below the recent swing low is a bad sign and would mean I am wrong.
On the 1 hour chart, we can see some bullishly diverging rsi and macd, meanig the we are probably going to being the 5th wave sometime soon.
Keep in mind that this trade might take a couple of weeks to be completed, so position yourself accordingly.
I wish you all the best this trading week, and have a great day.
long here? but what kind of long ?small little uptrend channel id get some here with a 12.2 stop, another one that looks better for shares! but still a solid investment
TECK Technical analysis -- Is it a good time to jump in?In this video, we take a look at how TECK is performing and answering the question of if it is an excellent time to buy in? Or is it time to go short?
BIG Potential for TECK RESOURCES LIMITED Hey guys, TECK RESOURCES LIMITED is in a bullish configuration with strong buying volume during the session and on a bullish hammer candle. Despite large number of volume its still looking to rise, we are in a stabilization zone with more than half tinned. So we have a great potential to breakout the area to go to the next one. And go to higher next which is on the top of the stabilization zone See the 4H or Daily.
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TECK.TO: Ascending Triangle, awating confirmation, possible 50% Ascending Triangle, May confirm next week
Pros:
Descending volume during formaton
Volume Spike at break out
Crossed above 200MA at Break out
PPS above 50Ma and 200MA
RS above 0 and climbing
R/R above 11, high
Cons:
200MA still descending
250RSI below 50
ATR flat
If confirmed:
PT = 24,96$
TECK - 8.06% Potential Profit - Corridor BreakoutCorridor breakout. New support confirmed multiple times yesterday.
Target price set at new Resistance bounce.
- 5-month uptrend with a 2-month correction
- RSI and STOCH above 50
- MACD above Signal
Suggested Entry $12.01
Suggested Stop Loss $11.72
Target price $12.85
Note that I tend to adjust stop losses in order to secure profits early and preserve capital. This means that the target price is going to be achieved as long as there are no strong pullbacks that trigger my new adjusted stop loss.
TECK Asending Triangle LongTECK is setting up for a nice long here as it trends up into monthly support trend line. Looking for more consolidation before breakout - colored broken arrows represent two possible paths - but looking for breakout nonetheless. TECK should make for a nice mid-term swing trade here, 77delta Sept18 $10c provides a nice risk reward to current share price if we get breakout over next couple weeks.
Interestingly, daily TTM squeeze is releasing. If TECK doesn't move over the next two weeks and break out above $11.75 then the daily release up may be a bearish divergence. Let's see how this plays out but I am looking for the breakout.
TECK - Ready for a bull fight ?
In last 24 hours both the news for deal with Deep-South and new credit facilities are strongly in favor of TECK.
Earnings reports due in July and price dipping below the channel makes it little unpredictable. Beware!
Kepping my Stop Loss tight. Fingers crossed!!
TECK.B : UpdateA technical update on TSX:TECK.B . Let me know what do you think in the comment section below.
Rock Bottomed for the Non-energy Mineral Company - Take 2!** Likes and Comments are appreciated! May the new Subscribers' next trade be super profitable! **
What I see...
+ Found Support after another >50% loss this year
+ Moved side way since mid-March with a rising Support line
+ Earnings in mid-April confirms Support
+ Prices is retesting the $9 resistance line since early May with contracting vol.!
+ Bullish RSI at 51 and rising
+ MACD is in positive territory
+ Prices found support at 50MA
+ Hammer off of a downtrend with high vol.
- Still under the 10MA
- Overall, a very weak stock
- Both 10 and 50 MA are below 100MA
What I setup...
+ Long entry at high-$8
- Stop at under the bottom of the Hammer
+ Target at $11 - next obvious resistance level
Time for bounce back (finally)? So here we are, the panic price drop caused by COVID-19 is settling down and the shareholders already realized how much they lost during the crisis (the realization is completely tangible after the previous earnings report (the arrow)).
It seems like the downtrend is slowing down and probably looking for reliable support to start its way north. We are seeing higher lows and if the price stays the same over the weekend (or opens up higher on Monday), moving toward future resistant bands is expected.
From the fundamental standpoint, the company is already limiting its production (and thus its costs) because of the lower demands. Many of their smaller sites are closed. However, this won't be the case for a long time. Even if no vaccine or treatment is found in the next months, the governments will find a way to start the economy engine (sooner or later) even if it means playing Russian roulette with people's lives. More liberal governments (like Canada) will probably postpone the opening as far as possible (to protect its people), but at some point (assuming no treatment/vaccine is found), a change of plans (such as deploying herd immunity, like Sweden) is expected. In that case, it may take months (not forever) for the market to bounce back.
Let me know what do you think about this subject in the comments below:
P.S. Expected Earning for June is already negative (unlike the past two). This means that there is a possibility that the actual earnings will be higher (because it already lost big in the past months), and thus an uptrend may start soon.
Short term long positionLooking for a short term bull market in the following weeks triggered by the aid.
"Trudeau announces aid for struggling energy sector, including $1.7B to clean up orphan wells": financial-aid-covid19-trudeau
Teck Resources down and out by enough.The company's cancellation of the mega Frontier Oil Sands project put downward pressure on the stock, but it will improve cash flow in the future. Trading at roughly 3X cash flow (using terrible 2019 as cash flow estimate) with little debt and $1 billion of cash on the balance sheet, the company could be a target.
