Power Corp (POW.TO) first entered the Green Favored Zone of the SIA TSX Composite Index report earlier this year on April 13th at a price of $34.29. After Friday’s close the shares were at $41.44 representing a 20.85% price appreciation since first entering the favored zone. A brief and shallow pullback occurred earlier this summer but now we see a significant breakout occur at its previous high near $40.00 with a another potential new upleg forming. Support can be found at the prior high near $40.00 while resistance is near the $48.00 area.
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