Skip to main content

Our initial report (October 27, 2018 - $20.98) identified a large trading range (dashed lines) and suggested that a rise above $20.50-21.00 would signal a breakout.

Gibson Energy Inc. (Friday’s close $xx.xx) had a breakout and rose to a high of $23.32 in November, 2018 (A). Then, after a quick correction toward the 40-week Moving Average (40wMA – B), it resumed the up-trend (C). A sustained move above ±$24 will signal the beginning of the next up-leg.

Behaviour indicators including the rising 40wMA and the rising trend-line (solid line) confirm the bullish status. Only a decline below ±$22 would be negative.

Story continues below advertisement

Point & Figure measurements provide targets of $27 and $29. The large trading range (dashed lines) supports significantly higher targets.

rb-gi-meisels-0727

stock

Monica Rizk is the senior Technical Analyst and Ron Meisels is the president of Phases & Cycles Inc. (www.phases-cycles.com). And he tweets at @Ronsbriefs. They may hold shares in companies profiled.

Chart source: www.decisionplus.com

Report an error Editorial code of conduct
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

Cannabis pro newsletter