INK Canadian Insider Index turned back by resistance

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 INK CIN Index snapped a multi-week losing streak, albeit with a small weekly gain. The Index rose 2.27 points as it closed at 1664.20. The Index now finds itself about 53 points or 4.3% off its February highs.

Among positives to report is that the Index bounced off its 1150 support level. From there it bounced 2.5%, however it then ran into its 20-day moving average at 1179 and dropped as the week ended.

Resistance is currently at 1179 and 1185. Support is at 1150 and 1142 (its lower Bollinger band).

Momentum indicators showed some signs of improvement. The Index's short-term momentum indicator (RSI) rose 3.4 points. MACD rose 1.4 points to -6.5.

One thing to watch is whether MACD turns up for a buy signal (it's a hair from doing so) and rallies, or whether the Index continues back down to retest its support at 1150.

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).