Branchless bank Equitable Group (EQB.TO) has returned to the Green Favored Zone of the SIA S&P/TSX Composite Index Report from a brief dip into the yellow zone. The shares finished yesterday in 57th place up 1 spot on the day and up 11 places in the last month.
Auto parts producer Aptiv (APTV) continues its steady climb back up the rankings in the SIA S&P 500 Index Report recently returning to the Green Favored Zone for the first time since March. Yesterday, the shares finished in 92nd place, up 7 spots on the day and up 60 places in the last month.
Medical diagnostic test producer PerkinElmer (PKI) returned to the Green Favored Zone of the SIA S&P 500 Index Report yesterday for the first time since February. It’s current climb up the rankings, which started from deep in the red zone back in May, continues with the shares finishing yesterday in 120th place, up 27 spots on the day and up 112 places in the last month.
Engineering and manufacturing software producer PTC Inc. joined the SIA S&P 500 Index Report back in April. For the second time in less than a year, PTC shares have staged a major breakout. Just as they did back in November, this week the shares have rallied to a new all-time high and completed a bullish Ascending Triangle pattern to signal the start of a new advance.
For the last six months, Monolithic Power Systems (MPWR), producer of power modules for semiconductors has been stuck in a sideways trading range between $300 and $400, consolidating previous gains. Since the last successful test of the channel bottom near $300, the shares have been under renewed accumulation, consistently climbing back up to the top of their range.
In this issue of Equity Leaders Weekly, we look at the implications of the Russell 2000 passing a key technical test this week, and at what recent action in the price of wheat is telling us about inflation heading into next week’s Fed meeting.
Colliers International (CIGI.TO) shares have been under accumulation, establishing an upward trend of higher lows and completing a series of bullish Ascending Triangle breakouts as it climbs in a step pattern. recently returning to the Green Favored Zone of the SIA S&P/TSX Composite Index Report from a dip down into the yellow zone. Yesterday, Colliers finished in 44th place, up 7 spots on the day and up 18 spots in the last week.
Dover Corp. (DOV) staged a major breakout yesterday, blasting through the top of a $143 to $155 consolidation range which had been in place since April to a new all-time high. This move occurred on a spike in volume, indicating increased investor interest and the start of a new advance.
Less than a week after reporting strong quarterly results, Bank of America (BAC) has dropped out of the green zone of the SIA S&P 100 Index report into the Yellow Neutral Zone for the first time since February as traders continue to take profits against the news. Yesterday the shares finished in 26th place, down one spot on the day and down 12 places in the last month.
The recovery trend in Marathon Petroleum (MPC) shares which started with a breakaway gap last October, appears to have run out of steam for now. The shares were unable to overcome previous resistance near $65.00 last month. In the last two weeks, the shares appear to have come under distribution, falling on increasing volumes, snapping an uptrend line and diving back under $60.00.
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