Turquoise Hill Resources Ltd (TRQ.CA) Stock Technical Analysis
TSX:TRQ - Toronto Stock Exchange - CA9004352071 - Common Stock - Currency: CAD
Taking everything into account, TRQ 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, TRQ is showing a nice and steady performance.
Besides having an excellent technical rating, TRQ also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 43.02. Right above this resistance zone may be a good entry point. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- 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
36.79
3 important support areas can be observed.
- Support @39.14 from a trend line in the weekly time frame.
- Support @38.27 from a horizontal line in the weekly time frame.
- Support @37.16 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 43.02 to 43.02. 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 TRQ.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for TRQ.CA is up. |
| ChartMill Relative Strength | 96.16 | POSITIVE | TRQ.CA has a high relative strength, it outperformed 96.16% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of TRQ.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of TRQ.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of TRQ.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 66.18 | NEUTRAL | The RSI value for TRQ.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests TRQ.CA has a negative trend. |
| Stochastics (14,3) | 98.48 | OVERBOUGHT | The high Stochastics value suggests TRQ.CA may be overbought. |
| Average True Range in percent/ATR (20) | 0.53 | LOW VOLATILITY | The low ATR as a percentage value for TRQ.CA suggests low volalility. |
| Average Directional Index/ADX (14) | 18.41 | NEGATIVE | The low ADX value for TRQ.CA suggests a weak or negative 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 |
|---|---|---|---|
| 43.03 | 42.34 | 0.69 (1.60%) | 25.00% |
| An entry @43.03. This is a Buy Stop order right above the resistance zone. | An exit @42.34. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.69 points, which is 1.60%. | For a 0.40% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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:TRQ (12/19/2022, 7:00:00 PM)
42.99
-0.02 (-0.05%)