The technical outlook for Monday for the Toronto Stock Exchange was for the market to be weak but turn sideways and attempt once more to break through the 200 day exponential moving average (EMA).
By the end of the day though stocks were down over 70 points and the 200 day moving average was still not taken. Stocks continue to remain weak and few investors seem interested in holding many of the commodity stocks the TSX is dominated by. Banks however held their own while telecommunications stocks advanced.
Telecommunications Stocks
In particular BCE Stock was back at $50.40 intraday getting ready to challenge its 52 week high of $51.09. Rogers communications (RCI.B) was up 1% but Telus which is already resting around $40.43 closed up just 4 cents. Meanwhile Fortis Stock hit another new all-time high at $37.34 before closing at $37.23.
The rest of this TSX market direction outlook article is for Canada Members.
TSX Market Direction Outlook for Nov 3 2014
FullyInformed Canada Members can login directly through this link to read the market direction outlook for the Toronto Stock Exchange for Nov 4 2014 or members can sign in to the full Canada members site here. Investors can join FullyInformed’s Canada section or read about the benefits of being a member through this link.
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