Author: Natalie Sorkilmo

SIA Charts’ relative strength rankings assist investors in identifying stocks that are outperforming or underperforming their peers or index benchmarks. To illustrate this, let’s review the shares of TFI International Inc. (TFII.TO). On September 13, 2024, the SIA Platform issued an unfavored signal for the stock at a price of $194.42. While the shares made a brief attempt to recover into the neutral zone, the move lacked sufficient momentum. Today we detail what has occurred since that time, as a reflection of the power of SIA Charts’ software solutions.

Here’s an analysis of Citibank (C), examining its recent price pullback, technical support, and resistance levels, along with insights from the SIA S&P 100 index report. The stock’s performance against the broader financial sector, coupled with its Point and Figure chart data, highlights potential areas to monitor for future price movements. This analysis provides advisors with key technical factors to consider when evaluating Citibank’s position in the market.

Nutrien Ltd. (NTR.TO) has moved from the unfavored red zone into the neutral zone within the SIA S&P/TSX Composite Index Report, signaling potential stabilization following a prolonged downtrend. SIA’s relative strength rankings identified its weakness early, with an unfavored signal in November 2022 at $97.93, and have since tracked its attempted recovery from a September low of $60.74. The Point and Figure (P&F) chart now indicates a potential rally, with a rising column of X’s and key support at $67.75, while a break above $77.00 resistance may suggest a shift in trend. With a SMAX score of 8 out of 10, Nutrien is exhibiting short-term strength across asset classes, warranting ongoing observation for potential entry into the favored zone.

Progressive (PGR) remains a leader in the insurance sector. Demonstrating strength in both absolute returns and technical performance, the stock has shown resilience amid market fluctuations. PGR has a perfect SIA SMAX score of 10 and it currently holds the #1 spot in the SIA S&P 500 index report, maintaining a favored ranking for the past year. As investors seek data-driven insights, SIACharts provides the tools to navigate market trends with confidence.

In today’s Daily Stock Report, we highlight Loblaw Companies (L.TO), which has shown notable strength amid market uncertainty, moving into the Favored Zone of SIA’s S&P/TSX 60 Index Report in January 2024 at $129.82 and gaining 44% since. As defensive sectors attract capital, the SIA Platform identified this trend early, reinforcing its power to provide timely, actionable insights ahead of market shifts. Even during recent volatility, Loblaw’s +5.38% one-month return significantly outperformed the S&P/TSX 60’s -3.75% decline, highlighting its resilience. Technical analysis, including Candlestick and Point & Figure charts, confirms a strong uptrend, with support near $175.00 and potential resistance at $200.00. With a SMAX score of 7/10, Loblaw continues to demonstrate broad-based strength, showcasing the value of SIA’s methodology in identifying opportunities before they become widely recognized.

This quick technical analysis examines Goeasy (GSY.TO), focusing on its recent decline in both absolute and relative terms. With shares down 15.45% YTD, we highlight key support levels and the stock’s negative SMAX score, indicating a lack of relative strength in the market.

Today, we continue building on our Daily Stock Report by examining two important data sets, focusing on the recent developments within the SIA platform. This week, we highlight the shift in the SIA Asset Class Rank, with CAD Equity now in the #1 position, surpassing U.S. Equity. We also dive deeper into the Insurance sector, where we identify opportunities, including Power Corp. (POW.TO), which may be showing strong SIA technical attributes. Through several charts, we’ll explore the growing strength of POW.TO and its potential moving forward.

In today’s analysis, we build upon the previous exploration of the SIA Sector Scope methodology by diving deeper into the SIA Insurance sector report. Instead of simply selecting the top performer, we focus on identifying stocks that are rising through the ranks, using Erie Indemnity Company (ERIE) as a case study. This examination highlights how to apply technical analysis and SIA rankings to uncover potential emerging leaders in the market.