Spin Master Corp. - (TOY.TO) - June 25, 2021
Toymaker Spin Master (TOY.TO) recently embarked on a new upswing within the Green Favored Zone of the SIA S&P/TSX Composite Index Report. Yesterday it finished in 17th place, up 10 spots on the day. Since we last mentioned Spin Master in the March 3rd issue of the Daily Stock Report, the shares are up $36.01.
A major breakout is underway in Spin Master (TOY.TO) shares, which cleared $46.00 for the first time since 2018. This move signals the start of a new upleg and confirms that the uptrend which started with the snapping of a downtrend line back in March continues.
Initial resistance appears possible near $50.00, followed by $56.00 based on a measured move from a previous trading range, and then the 2018 peak near $60.00. Initial support moves up toward $43.50 which had been a recent minor resistance point.
With another bullish Double Top breakout underway, Spin Master (TOY.TO) shares have rallied to their highest level since 2018, confirming that the advance which started back in March continues.
Initial upside resistance appears near the $50.00 round number, then a previous column high near $52.15, followed on trend by $56.45 and $62.30 based on vertical counts, with the 2018 peak near $59.90 in between them. Initial support appears near $43.60 based on a 3-box reversal.
With a perfect SMAX score of 10, TOY.TO is exhibiting strength across the asset classes.
Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.