TSX Composite Index (GSPTSE.CA)

Short term

TSX Composite Index is in a rising trend channel in the short term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 24800 points. 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 TSX Composite Index. 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 positive for the short term.

Recommendation one to six weeks: Positive (Score: 93)

Medium term

TSX Composite Index is in a rising trend channel in the medium long term. This shows that investors over time have bought the index at higher prices and indicates good development for the market. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 22500 points. The index is assessed as technically positive for the medium long term.

Recommendation one to six months: Positive (Score: 93)

Long term

TSX Composite Index has broken the rising trend up in the long term, which indicates an even stronger rising rate. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 22000 points. The index is assessed as technically positive for the long term.

Recommendation one to six quarters: Positive (Score: 91)