Yesterday stock markets, particularly in Europe rebounded, while gold and oil dropped back. It remains to be seen if this was a dead cat bounce or the start of a larger reversal of fortune. In this issue of Equity Leaders Weekly, we take our monthly look at sector scopes and at inflation in grain prices.
For nearly two years, Dollarama (DOL.TO) has been under accumulation, steadily advancing in a rising channel of higher highs and higher lows. This week, the shares have broken out to a new all-time high, confirming that their upward trend remains intact. Measured moves from previous trading ranges suggest potential upside resistance near $74.50 then $80.00. Initial support appears near $65.00 then $60.00.
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