SYS Research – Canadian Daily Setups – Monday, October 16, 2023

Notice: The Daily Setups are provided for informational purposes only and are not intended as a stock-picking service. The charts and information provided are intended to aid research and analysis and should only be used as indicators. They should not be considered as a direct trigger to buy or sell any security. The creator assumes no responsibility for any actions readers take and strongly advises each individual to fully understand the risks and potential consequences before making any investment decisions. Please note that the charts shared are not intended as signals to buy or sell but as a tool to add to your watchlist and analyze according to your trading ability. Remember that not all charts will result in buy or sell actions at any time.

Just a friendly reminder: We update the sector chartists every weekend. We highly recommend that you take some time to browse and create your watchlist. Please pay close attention to the Daily Setups and Workspace scan results for potential future additions to stay ahead of the game.

If you’re facing challenges understanding the Daily Setups or need help crafting a trading strategy, don’t hesitate to ask for assistance. You can contact me via email at info@setyourstop.com or reach me through the Workspace. Let’s schedule a meeting to address your specific requirements and provide you with the guidance you need.

Sample Trading System

The following trading system is presented as an educational example and should not be interpreted as financial advice. Past performance does not guarantee future results, and trading involves inherent risks. Please consult with a qualified financial advisor before implementing any trading strategies.

Canadian Daily Setups

ENGH.TO – Enghouse Systems Ltd.

Enghouse Systems appears to be forming a rounded bottom pattern, and there’s potential for a breakout as price action inches closer to surpassing the horizontal resistance line. Monitor for signs of upside momentum.

LINK TO CHART – https://schrts.co/SHJdRCrK

 

FOM.TO – Foran Mining Corp.

Foran Mining is exhibiting a consistent pattern of higher highs, suggesting the formation of a substantial ascending triangle continuation pattern. Watch for indications of sustained upside momentum, which could potentially result in a breakout.

LINK TO CHART – https://schrts.co/uNCqtZnV

 

GLXY.TO – Galaxy Digital Holdings Ltd.

Galaxy Digital has surfaced on momentum scans as its price action curves higher from the lower trendline within a consolidation area. Consider adding it to your watchlist and closely monitor for signs of continued upside momentum.

LINK TO CHART – https://schrts.co/fabvyarv

 

HWX.TO – Headwater Exploration Inc.

Headwater Exploration is attempting to trend higher from a bullish pennant continuation pattern. Monitor for a potential breakout.

LINK TO CHART – https://schrts.co/AFifwymF

 

MEG.TO – MEG Energy Corp.

MEG Energy has just achieved a new multi-year high as price action continues to trend higher above its moving averages. Monitor for a potential continuation of the uptrend.

LINK TO CHART – https://schrts.co/mSStgIvs

 

PKI.TO – Parkland Fuel Corp.

Parkland Fuel is indicating a potential breakout as it breaks free from its recent consolidation, reaching a new 52-week high. Watch for a potential continuation of upside momentum.

LINK TO CHART – https://schrts.co/aVJKskIt

 

TOU.TO – Tourmaline Oil Corp.

Tourmaline Oil is positioned just below the upper trendline of a significant multi-year consolidation/continuation pattern. Keep a watchful eye for the potential of a breakout.

LINK TO CHART – https://schrts.co/wGvhIjgu

 

Canadian Scanner Results

Click on the CandleGlance chart to view it in full size. Find a chart that matches your criteria or interests. You can easily save it to your watchlist on StockCharts.com for further analysis and tracking or copy and paste the ticker list into your chart provider.

 

SetYourStop Blog Request

Enter your name and email to be alerted with new ideas.

Please wait...

Thank you for sign up!

Scroll to Top