TORONTO-DOMINION BANK (TD) Stock Technical Analysis
USA - NYSE:TD - CA8911605092 - Common Stock
Taking everything into account, TD scores 10 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, TD is showing a nice and steady performance.
Besides having an excellent technical rating, TD also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 81.23. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 80.03, a Stop Loss order could be placed below this zone.
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When analyzing the support we can see 3 important areas.
- A support zone ranging from 78.13 to 80.03. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 72.55 to 73.45. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @65.41 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 81.23 to 81.23. 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 TD is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for TD is up. |
| ChartMill Relative Strength | 84.62 | POSITIVE | TD has a high relative strength, it outperformed 84.62% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of TD is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of TD is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of TD is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 60.02 | NEUTRAL | The RSI value for TD is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.23 | NEGATIVE | The MACD value suggests TD has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 47.51 | NEUTRAL | The Stochastics value for TD is a neutral value. |
| Average True Range in percent/ATR (20) | 1.55 | LOW VOLATILITY | The low ATR as a percentage value for TD suggests low volalility. |
| Average Directional Index/ADX (14) | 36.19 | POSITIVE | The high ADX value value for TD suggests a strong trend. |
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 |
|---|---|---|---|
| 81.24 | 78.12 | 3.12 (3.84%) | 25.00% |
| An entry @81.24. This is a Buy Stop order right above the resistance zone. | An exit @78.12. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 3.12 points, which is 3.84%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.96%. |
- 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.
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