Tricon Residential Inc (TCN.CA) Stock Technical Analysis
TSX:TCN - Toronto Stock Exchange - CA89612W1023 - Common Stock - Currency: CAD
Taking everything into account, TCN scores 8 out of 10 in our technical rating. Both in the recent history as in the last year, TCN has proven to be a steady performer, scoring decent points in every aspect analyzed.
The long and short term trends are both positive. This is looking good!
TCN is part of the Real Estate Management & Development industry. There are 27 other stocks in this industry. TCN outperforms 100% of them.
TCN is currently making a new 52 week high. This is a strong signal. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
In the last month TCN has a been trading in the 13.54 - 15.57 range, which is quite wide. It is currently trading near the high of this range.
Prices have been consolidating recently, this may present a good entry opportunity.
When comparing the yearly performance of all stocks, we notice that TCN is one of the better performing stocks in the market, outperforming 83% of all stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
Volume is considerably higher in the last couple of days.
TCN has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 15.28, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
14.62
15.62
We found 1 important support area.
- A support zone ranging from 14.77 to 15.28. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 15.37 to 15.47. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for TCN.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for TCN.CA is up. |
| ChartMill Relative Strength | 83.74 | POSITIVE | TCN.CA has a high relative strength, it outperformed 83.74% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of TCN.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of TCN.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of TCN.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 58.57 | NEUTRAL | The RSI value for TCN.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests TCN.CA has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 85.17 | OVERBOUGHT | The high Stochastics value suggests TCN.CA may be overbought. |
| Average True Range in percent/ATR (20) | 1.34 | LOW VOLATILITY | The low ATR as a percentage value for TCN.CA suggests low volalility. |
| Average Directional Index/ADX (14) | 40.54 | POSITIVE | The high ADX value value for TCN.CA suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 15.48 | 15.07 | 0.41 (2.65%) | 25.00% |
| An entry @15.48. This is a Buy Stop order right above the resistance zone. | An exit @15.07. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.41 points, which is 2.65%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.66%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
TSX:TCN (5/2/2024, 7:00:00 PM)
15.34
-0.12 (-0.78%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorReal Estate
GICS IndustryReal Estate Management & Development
Performance
% Chg-0.78%
1 Week0.07%
2 Weeks0.72%
1 Month1.52%
3 Month3.37%
6 Month54.02%
12 Month42.57%
2 Year-2.17%
3 Year18.18%
5 Year48.21%
10 Year101.84%
15 YearN/A
Volatility
ATR(14)0.13
ATR(20)%1.34%
ATR Inc-34.98%
Range Today0.23
ADR(20)0.19
ADR(20)%1.24%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS83.74
Mansfield1.33
10 Day High15.57
10 Day Low15.08
20 Day High15.57
20 Day Low13.54
52 Week High15.57
52 Week Low9.03
CS1 End15.28
CR1 Start15.37
Volume & EV
DER(3)1.33%
DER(5)2.99%
Volume177.02K
Volume Incr96.42%
Vol(5)996.26K
Vol(50)707.48K