Big US banks have been climbing their way up relative strength rankings tables, and in many cases, moving up into the Green Favored Zone. Citigroup (C), for example, returned to the Green Favored Zone of the SIA S&P 100 Index Report, for the first time since June of 2021 after climbing 4 spots yesterday and 9 positions in the last month to 26th place.
Earlier this month, COP exited the red zone and has been moving up within the Yellow Neutral Zone, closing Friday in 32nd place, up 39 positions in the last month. Over that time, COP has gained 6.0%, while the S&P 100 Index has declined by 4.3%.
Restaurants have been struggling in relative strength rankings lately. McDonalds Corp. (MCD), for example, dropped back into the Red Unfavored Zone of the SIA S&P 100 Index Report earlier in April. Over the last three months, MCD has declined by 7.4%, significantly underperforming the 5.4% gain made by the S&P 100 Index
In this edition of Equity Leaders Weekly, we look at the relative performance of equity markets around the world and conduct our monthly review of Sector Scopes.
BCE Inc. (BCE.TO) has been a perennial relative cellar dweller within the Canadian equity universe. The shares have been stuck in the Red Unfavored Zone since July of 2022, and they have been outside of the green zone since April of 2020. Currently BCE.TO is at rock bottom of the SIA S&P/TSX 60 Index Report, and fourth from the bottom in the SIA S&P/TSX Composite Index Report.
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