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A Rogers Communications store in Ottawa

CHRIS WATTIE/CHRIS WATTIE/REUTERS

From the high of $52.20, Rogers Communications Inc. declined to $25.40 (A-B), settled in a trading range between $27 and $33 (dotted lines), rallied above a falling trendline (dashed line) and above the trading range and then settled into another trading range between $34 and $39 (C-D; dotted lines). Recent price action (D) suggests the start of a new up-leg and a sustained rise above $40-41 would confirm the breakout. Only a decline below about $37.50 would be negative. A sustained rise above $40-$41 would signal Point & Figure targets of $44 and $49.

Monica Rizk is the senior technical analyst for Phases & Cycles Inc. Ron Meisels is a contributor to the www.NA-marketletter.com website. They may hold shares in companies profiled. Please see the site for a glossary.

Chart source: www.decisionplus.com

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About the Authors
Senior Technical Analyst at Phases & Cycles Inc.

Monica Rizk, Senior Technical Analyst, has a Bachelor's degree in Business Administration and completed the Canadian Securities Institute course. She has been with Phases & Cycles since September 2000 and specializes in the research of Canadian and US stocks using Point & Figure as well as bar chart analysis. More

President of Phases & Cycles Inc.

Ron Meisels, President, Phases & Cycles Inc., has been active as an Analyst since 1971. He was Vice President and Director of Technical Research of Nesbitt Thomson (now BMO Nesbitt Burns) from 1982 to 1990. He was ranked among the top three technical analysts by Canadian Institutions for six consecutive years (Brendan Wood Survey). More

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