Ottawa Investment Advisor John Bruce

Technical Analysis Report week ending July 3, 2009

July 6, 2009 · Print This Article


  • Ended a short week of trading sitting on the lows of the previous previous week and closed below 14 day and 21 day moving averages. It also remained below the 200 day and the 50 day moving average. Price action has turned negative and now that the 50 day moving average has been broken , the near term is clearly negative. Relative Strength Index (RSI) is weakening but still has a fair distance it can fall without becoming over sold.


  • The previous week’s reversal weakened and prices drifted lower all week. The 50 day moving average held out and was not penetrated and has become the next level of support . The up trend has gone from positive to negative , short- term trend moving lower. Relative Strength Index (RSI) has started to weaken but is still in neutral territory.

*To find out how Technical Analysis can be used in your portfolio, call John Bruce 866-860-4190.

John S. Bruce
Investment Advisor
Mackie Research Capital
Direct Line- 613-425-3732
Toll Free- 866-860-4190

The opinions, estimates and projections contained herein are those of the author as of the date hereof and are subject to change without notice and may not reflect those of Mackie Research Capital Corporation (“MRCC”). The information and opinions contained herein have been compiled and derived from sources believed to be reliable, but no representation or warranty, expressed or implied, is made as to their accuracy or completeness. Neither the author nor MRCC accepts liability whatsoever for any loss arising from any use of this report or its contents. Information may be available to MRCC which is not reflected herein. This report is not to be construed as an offer to sell or a solicitation for an offer to buy any securities. Member-Canadian Investor Protection Fund / member-fonds canadien de protection des ├ępargnants.

Mackie Research Capital Corporation (MRCC) makes no representations whatsoever about any other website which you may access through this one. When you access a non-MRCC website please understand that it is independent from MRCC and that MRCC has no control over the content on that website. The content, accuracy, opinions expressed, and other links provided by these resources are not investigated, verified, monitored, or endorsed by MRCC.


Comments are closed.

Copyright © 2018 · Ottawa Investment Advisor John Bruce · All rights reserved · Mackie Research