This is the time to exercise your patience guys!
Last week I thought that TD was breaking out of the resistance of $77.46 which it did.... FOR ONLY LIKE 2 DAYS!!
Then it retraces back to the 20/50 EMA. TD is playing it safe and so are the investors.
Can we expect future events from the chart? Maybe.
I see that the MACD is also moving sideways and it has no...
TD showing strength compared to the other Toronto based financial institutions like CIBC, HCG, LB, etc., but may present a good opportunity to add to our "short Canada" trade.
TSX:TD Nearing the 200EMA on the weekly chart. Acted as a nice bounce spot every encounter in the last decade. Considering market environment I will be playing this very safe and waiting for some kind of confirmation before entering a long position. Any kind of daily closes under that range will be enough for me to pass on this trade.
Entry - $65.24
StopLoss -...
Looking at a daily close under $69.20 for a short opportunity. Price is testing a horizontal that acted as strong support twice recently. Coupled with a 100/200EMA cross and current market situation will lead to a break in my opinion.
Entry: Would like to see a strong break of support and take the first retest to the $69 area.
Stop-Loss: $70.10
Take-Profit: $67.66
This trade is based off of a relative valuation using P/B (50% weight), P/E, P/S, EV/EBITDA (all 16.67% weight) and here are my findings, all prices in CAD:
Overvalued:
RY with a target of $94.30 (-4.00%)
TD with a target of $70.95 (-3.10%)
RY and TD also have the largest amount of Home Equity Lines of Credit on their balance sheets and these will perform poorly...
Ended the day off with a huge hammer signalling a move up, MACD is also making moves for a crossover, TD could possibly be making a move up to test the strong resistance @ $75.
Be careful though, TD is currently in a bearish state, the resistance has already been tested a total of three times, forming a triple top. However, I think a scalp here is certainly...
Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses. The U.S. Retail segment consists of its retail and commercial banking operations operating under the brand TD Bank, and wealth management services in the United States. The Wholesale Banking segment provides a range of capital markets, investment banking, and corporate banking products and services, including underwriting and distribution of new debt and equity issues, providing advice on strategic acquisitions and divestitures, funding and investment needs of its clients. The Corporate segment provides centralized advice and counsel to its businesses.
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TD
