Skip to main content

The logo of Alimentation Couche-Tard Inc. in Laval, Quebec September 6, 2006.

CHRISTINNE MUSCHI/REUTERS/CHRISTINNE MUSCHI/REUTERS

Alimentation Couche-Tard Inc. had a rising zigzag pattern since mid-2009. It rallied to $22.24 (A), declined to $17.25 (B), rose to $27.63 (C), pulled back to support at its 40-week moving average (D) and then rose to $30.76 (E). The stock then settled into a flag pattern made up of lower highs and lower lows (dashed lines). A move above this formation would signal the resumption of the up-trend. Only a decline below about $27 would be negative.

Point & Figure measurements provide targets of $32 and $39. These are the final targets at this time.







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.

Story continues below advertisement

Chart source: www.decisionplus.com

Report an error
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

Comments are closed

We have closed comments on this story for legal reasons. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.