Verdict⚡ Bias: Cautiously Bullish — but patience is everything here.
📌 Rules:
Daily close ABOVE $67 + strong volume = 🟢 go long
Daily close BELOW $63 + strong volume = 🔴 risk off
Don't front-run the triangle. Let price & volume do the talking.
Not financial advice. DYOR. 🙏
Hook🧵 $CNQ (Canadian Natural Resources) — Full Technical Breakdown
A classic chart pattern is forming on the daily TSX chart and a big move is coming. Here's everything you need to know 👇
#CNQ#TSX#TechnicalAnalysis#CanadianStocks
Volume📦 Volume has been declining inside the triangle — totally normal during compression.
But here's the key: ✅ Breakout on HIGH volume = confirmed move ❌ Breakout on LOW volume = likely fakeout
The $58 May low had massive buy volume — that's your floor. 👀
Q1 GDP came in weak (-0.3% QoQ).
💡 Consumers outperformed, esp. in services.
📈 Business investment strong.
📉 Trade & gov spending dragged.
🔥 Inflation still running hot (GDP deflator +3.7%)
Pre-tariff distortions lead to wider trade gap.
#USEconomy#GDP#Inflation4o
Chinese purchases of American oil are down -90% Y/Y, while Chinese purchases of Canadian oil are up +700% Y/Y.
That’s a $20B annual loss for the United States at $60/barrel.
This is truly insane:
On February 20, JP Morgan CEO Jamie Dimon sold $234 million worth of $JPM stock.
On February 22, Warren Buffett disclosed a record $334 BILLION cash balance.
30 trading days later, the Nasdaq 100 crashed -24%.
How did they know?
(a thread)
📉 Exports to the U.S. fell 3.6% in Feb (-$2.1B) after 3 months of gains & a record Jan
📈 Imports from the U.S. rose 2.5%
🇨🇦🇺🇸 Canada’s trade surplus with the U.S. dropped from $13.7B (Jan) to $10.6B (Feb)
#CanadaUSTradeWar#Canada#CanadaStrong
Wall Street opened sharply down after weak jobs data, raising fears of a downturn.
🔴Tech stocks took a hit, with Nasdaq down 3.1%.
🔴Japan's market saw its largest point drop in history.
🔴Markets in Taiwan, South Korea, India, Australia, Hong Kong, and Shanghai also tumbled.
Breaking : More than $1.93 trillion has vanished from the US stock market today as the Nasdaq plunged by over 1,000 points. Reports indicate that the Nasdaq and The Dow has hit an all-time low, even intraday. Is the US heading to The Great Depression 2.0. 😳👀
“We have never been down 1,000+ points ever…not even intraday—on the NASDAQ.”
Dell’Oro estimates that the global RAN equipment market will decline by -5% to -8% (-4%) in 2024. North America is expected to grow by 5% to 15% (10% to 20%), Europe to decline by -5% to -15% (0% to -5%) and Mainland China to decline by -5% to -10% (-5% to -10%).
#telecom
Ericsson 24 Q2 Report Review @ericsson
🔵Sales declined -7% YoY. Reported sales were SEK 59.8 (64.4) b.
🔵Net income (loss) was SEK -11.0 (-0.6) b, including a SEK -11.4 b. impairment impact.
🔵Employees on June 30, was 97,985 (99,140 on Mar 31)
#telecommunications#telecom
On May 28, 2024, oil prices stood at $84.23 for Brent crude, $79.83 for WTI, and $84 for the OPEC basket. These benchmarks are key for traders. The rise since March is due to growing geopolitical tensions in the Middle East. #OilPrices#BrentCrude#WTI#OPEC
In 2024, global telecommunication services spending is expected to amount to 1.55 trillion U.S. dollars, an increase of over 4 percent on the previous year. This would amount to the highest annual spending figure since 2012.
#Telecom#telecomoperators#investment
Congratulations RBC iShares on the launch of 6 RBC U.S. Target Maturity Corporate Bond ETFs on #TSX!
These new U.S. target maturity bond #ETFs will invest in U.S. corporate bonds with maturities ranging from the year 2025 to 2030. Learn more: https://t.co/WT2tb2h6Pj
@rbcgamnews@BlackRockCA
Suncor Energy : SU | YTD 2024 Analysis
🔹Cumulative Return: 22.31%
🔹With a Sharpe Ratio exceeding 3, this stock has delivered strong returns relative to its risk.
🔹In over 50% of days in 2024, the stock has shown positive gains.
#TSX#Canada#Oil#energy#suncor
Suncor Energy : SU | YTD 2024 Analysis
🔹Cumulative Return: 22.31%
🔹With a Sharpe Ratio exceeding 3, this stock has delivered strong returns relative to its risk.
🔹In over 50% of days in 2024, the stock has shown positive gains.
#TSX#Canada#Oil#energy#suncor