INK Canadian Insider Index bases above 1190

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following two offers if you want an ad-free experience.

Canadian Insider Club
$299/ year*
Daily Morning INK newsletter
+1 year archive
Canadian Market INK weekly newsletter
+1 year archive
3 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
No requirement to accept commercial emails from us
30-day money back guarantee*
JOIN THE CLUB
Canadian Insider Ad-Free
$49/ year*
All benefits of basic registration
No 3rd party display ads
No requirement to accept commercial emails from us
30-day money back guarantee*
GO AD-FREE

* Price is subject to applicable taxes. Money back guarantee: For bona fide Ad-Free or Canadian Insider Club subscribers, if you cancel with-in 30 days of first subscribing, we will refund your payment upon request. After cancelling, using the same email that is associated with your account, request a refund via our Contact Us form at the bottom of the page. We will only consider one refund request per household or organization. We cannot accommodate refund requests where an account holder has not provided verifiable address and billing information.

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the Index made an initial 14 point stab, up to the 1209.7 level, placing it just 8 points off its 2017 intraday highs. However, the INK CIN could not hold its gains, and by week's end, it shed 3.8 points to close at 1191.70.

 

 

The Index's momentum indicators took a breather, as RSI dipped 7.4 points to 54.48 and MACD slipped from 4.56 to 1.25. As we've noted in the past, RSI needs to move back into the 60s for the Index to continue its recent upward trend.

As we mentioned last week, the 1200 resistance level remains a tough nut to crack. Above that, the 1210 level provides further challenge. 1190 provides initial support. Below that, the 1180 area provides strong support as both its 50- and 20-day moving averages converge just above at 1182-83.

I project we are likely to see stocks and miners rally over the next month at least into mid-May, so it will be interesting to see how strongly the Index performs if my forecast proves correct.

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