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 if you want an ad-free experience.
* Price is subject to applicable taxes.
Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. The Index continued its electrifying multi-month run, when it snared a brand new 2016 high at 1094.72 on Wednesday, and then pulled back swiftly, finishing the week at 1066.98, registering a drop of just over 5 points.
The Index's momentum indicators were red hot. RSI ratcheted up to a peak of 79.06, notching a new 2016 high. Above the 70 mark is an overbought reading and one that halts many a rally, and so it was not surprising to see the Index correct decisively afterwards. RSI ended the week a hair under 60. MACD surged, as it rose from 10.65 to end the week at 13.36, for an increase of 25%.
Major support is in the area of 1055-58 and strong secondary support is at 1026. Major resistance is at 1082, while minor resistance is at 1072.
While the Index closed 30 points below its new highs, it remains above its 50-day moving average (the purple line), a key measure, which has guided it higher since mid-February.
We use cookies to tailor your experience, measure site performance and present relevant offers and advertisements. By clicking ‘Accept’ or any content on this site, you agree that cookies can be placed on your browser. You can view our privacy policy to learn more.
If you want a better viewing and privacy experience, join us as Canadian Insider Club Ultra member to eliminate third-party ads