OceanaGold Corporation 

OceanaGold Corp (TSX: OGC) is engaged in the exploration, development, and operation of gold and other minerals, with a presence in the Philippines, New Zealand, and, to a lesser extent, the United States. 

Technical Outlook: OGC's prices broke a symmetrical triangle pattern by an upside on April 06, 2021 and since then, prices are trading above the breakout level, indicating an upward direction for the stock. Prices recently started to move upside with the higher volumes, indicating higher market participation.

On a weekly chart, the leading indicator RSI (14-period) is trading in positive territory at ~58.29 levels. Prices recently moved above the trend-following indicators 21-period SMA and 50-period SMA, further supporting an upside stance for the stock. The MACD line is trading above the centerline with a positive crossover. Now the next major resistance level for OGC is at CAD 2.95 and prices may test the level in the short term. On the lower side, CAD 2.18 acting as an immediate support level where 21-period SMA also rest.

As per the above-mentioned price action and technical indicators analysis, we can conclude that OceanaGold Corporation is looking technically well-placed on the chart and we have a ‘Speculative Buy’ rating on the stock. The summary of our recommendation is as follow:

*Depending upon the risk tolerance, investors may consider unwinding their positions in a respective stock once the prices touched the resistance level or if the price closes below the support level.

Chemtrade Logistics Income Fund 

Chemtrade Logistics Income Fund (TSX: CHE.UN) provides industrial chemicals and services to customers in North America and around the world. The company is organized into four main operating segments: Sulphur Products & Performance Chemicals (SPPC), Water Solutions & Specialty Chemicals (WSSC), Electrochemicals, and Corporate. 

Technical Outlook: CHE.UN's prices are sustaining above the downward sloping trend line breakout for more than two months and continuously taking support from another upward sloping trend line, indicating an upside direction for the stock. Prices broke the major resistance level of CAD 7.68 on April 28, 2021 and currently hovering around the breakout level.

On a weekly chart, the leading indicator RSI (14-period) is trading in positive territory at ~58.24 levels. Prices are sustaining above the trend-following indicators 21-period SMA and 50-period SMA and the MACD line is also trading above the centerline with a positive crossover, further supporting the upside stance for the stock. Now the immediate resistance level for CHE.UN is at CAD 8.70 and prices may test the level in the short term. On the lower side, CAD 6.39 acting as an immediate support level where the downward sloping trend line support rest.

As per the above-mentioned price action and technical indicators analysis, we can conclude that Chemtrade Logistics Income Fund is looking technically well-placed on the chart and we have a ‘Speculative Buy’ rating on the stock. The summary of our recommendation is as follow:

*Depending upon the risk tolerance, investors may consider unwinding their positions in a respective stock once the prices touched the resistance level or if the price closes below the support level. 

Extendicare Inc. 

Extendicare Inc (TSX: EXE) is a long-term care facilities company. The business has five segments including Long-term care; Retirement living; Home health care; Other Canadian operations and Corporate segment.

Technical Outlook: EXE's prices witnessed a sharp upside movement in the recent past; however, for the last few weeks, prices are consolidating on higher levels. Prices are sustaining above the downward sloping trend line breakout and for the short-term, we may expect further upside movement in it.

On a weekly chart, the leading indicator RSI (14-period) is trading in positive territory at ~65.98 levels. Prices are sustaining above the trend-following indicators 21-period SMA and 50-period SMA, further supporting an upside stance for the stock. The MACD line is trading above the centerline with a positive crossover. Now the next major resistance level for EXE is at CAD 8.85 and prices may test the level in the short term. On the lower side, CAD 6.95 acting as an immediate support level where 21-period SMA and an upward sloping trend line rest.

As per the above-mentioned price action and technical indicators analysis, we can conclude that Extendicare Inc is looking technically well-placed on the chart and we have a ‘Speculative Buy’ rating on the stock. The summary of our recommendation is as follow:

*Depending upon the risk tolerance, investors may consider unwinding their positions in a respective stock once the prices touched the resistance level or if the price closes below the support level. 

Precision Drilling Corporation 

Precision Drilling Corp (TSX: PD) is a leader in North American oil and gas services. Precision is Canada's market leader in contract drilling, and expanded in to the United States with the purchase of Grey Wolf. 

Technical Outlook: PD's prices are sustaining above a long-term downward sloping trend line breakout level and continuously taking support from another upward sloping trend line. Prices are consolidating with a positive bias for more than a month and may catch upward trend again. 

On a weekly chart, prices are continuously taking support from trend-following indicators 21-period SMA and sustaining above another trend-following indicator 50-period SMA, suggesting an upside direction. The leading indicator RSI (14-period) is consolidating above 50 and currently trading at ~56.50 levels. The MACD line is trading above the centerline with a positive crossover, further supporting a positive trend. Now the next major resistance level for PD is at CAD 39.20 and prices may test the level in the short term. On the lower side, CAD 26.60 acting as an immediate support level.

As per the above-mentioned price action and technical indicators analysis, we can conclude that Precision Drilling Corporation is looking technically well-placed on the chart and we have a ‘Speculative Buy’ rating on the stock. The summary of our recommendation is as follow:

*Depending upon the risk tolerance, investors may consider unwinding their positions in a respective stock once the prices touched the resistance level or if the price closes below the support level.

Yangarra Resources Ltd 

Yangarra Resources Ltd (TSX: YGR) is a junior oil and gas company which is engaged in the exploration, development, and production of natural gas and oil with operations in Western Canada. 

Technical Outlook: YGR's prices broke a major resistance level of CAD 1.01 on February 17, 2021 and since then sustaining above the breakout level. Prices recently moved up after testing resistance turned support level of CAD 1.01 coupled with 21-period SMA, indicating an upside direction for the stock.

On a weekly chart, the leading indicator RSI (14-period) is trading at ~58.29 levels, supporting a positive trend. Prices are treading above the trend-following indicators 21-period SMA and 50-period SMA, supporting the stock on the lower side. The MACD line is trading above the centerline but showing a negative crossover. Now the next major resistance level for YGR is at CAD 1.35 and prices may test the level in the short term. On the lower side, CAD 0.99 acting as an immediate support level.

As per the above-mentioned price action and technical indicators analysis, we can conclude that Yangarra Resources Ltd is looking technically well-placed on the chart and we have a ‘Speculative Buy’ rating on the stock. The summary of our recommendation is as follow:

*Depending upon the risk tolerance, investors may consider unwinding their positions in a respective stock once the prices touched the resistance level or if the price closes below the support level.

Disclaimer

The advice given by Kalkine Canada Advisory Services Inc. and provided on this website is general information only and it does not take into account your investment objectives, financial situation and the particular needs of any particular person. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. The website www.kalkine.ca is published by Kalkine Canada Advisory Services Inc. The link to our Terms & Conditions has been provided please go through them. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations later.