Toronto (TORONTO.NDX)
Close: 22 244.00 (+20.30), Jul 4, 2024
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Liquidity risk: | Volatility risk: |
Short term
Toronto is within an approximate horizontal trend channel in the short term. This indicates that investors are uncertain and waiting for signals of further direction. A break upwards will be a positive signal, while a break downwards will be a negative signal. The index is approacing resistance at 22370 points, which may give a negative reaction. However, a break upwards through 22370 points will be a positive signal. The short term momentum of the index is strongly positive, with RSI above 70. This indicates increasing optimism among investors and further price increase for Toronto. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The index is overall assessed as technically slightly negative for the short term. Recommendation one to six weeks:
Medium term
Toronto has broken through the floor of a rising trend channel in the medium long term. This indicates a slower rising rate at first, or the start of a more horizontal development. The index is approacing resistance at 22460 points, which may give a negative reaction. However, a break upwards through 22460 points will be a positive signal. The index is assessed as technically slightly negative for the medium long term. Recommendation one to six months:
Long term
Toronto has broken up from an approximate horizontal trend channel in the long term after investors have paid ever more. A positive signal has been triggered and further increase for the index is indicated. The index has marginally broken up through resistance at points 22000. An established break predicts a further rise. The index is assessed as technically positive for the long term. Recommendation one to six quarters:
Period |
Vol.bal. |
Volatility |
Liquidity |
+/- % |
1 day | - | 0.52% | 69.90 | +0.09% |
5 days | -47.66 | 1.82% | 191.24 | +2.07% |
22 days | -8.91 | 4.65% | 230.48 | +0.19% |
66 days | -8.66 | 7.99% | 225.86 | +0.90% |
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