TECHNICAL ANALYSIS: Canadian Stocks Move Lower; Healthcare Drives Loses; TSX Breaks Support


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The TSX is lower in afternoon trading down slightly more than 100 points. Most sectors are lower, led by Metals and Mining along with Healthcare, but Telecomm bucked the trend.

The TSX moved through support levels near 14,205 and are now poised to test target support near the 50-day moving average near 14,037. Resistance is seen near the 10-day moving average at 14,288.

Momentum on the TSX is negative as the MACD (moving average convergence divergence) index prints in negative territory with a downward sloping trajectory. The relative strength index (RSI) moved lower with price action reflecting accelerating negative momentum.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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