Author: Paul Kornfeld

With the Energy sector attracting renewed interest this week, Marathon Oil (MRO) has returned to the Green Favored Zone of the SIA S&P500 Index report for the first time since June. The shares climbed 13 spots yesterday and are up 56 places in the last month. A long-term downtrend in Marathon Oil (MRO) shares bottomed out back in March, and since then, a bullish Ascending Triangle base had been forming. Yesterday, the shares completed the bullish triangle base with a breakout over $8.50 which confirms that a new recovery trend has commenced.

Specialty and generic pharmaceutical producer Bausch Health (BHC.TO) has returned to the Green Favored Zone of the SIA S&P/TSX 60 Index report for the first time in nearly a year. The shares climbed 11 spots yesterday in response to positive sales guidance to 12th place and have moved up 31 places in the last month.

Fertilizer producer Nutrien (NTR.TO) returned to the Green Favored Zone of the SIA S&P/TSX 60 Index report for the first time in two years last month and continues to hold steady in that range. Yesterday it moved up one spot to 12th place. This long-term weekly chart highlights the significance of the current advance in Nutrien (NTR.TO) shares. The recent rally up through $67.50 has not only carried the shares to their highest level in over five years, but it also has snapped a long-term downtrend line dating back to the 2008 peak.

After spending most of the last four years stuck in the red zone, oilfield equipment producer TechnipFMC (FTI) recently returned to the Green Favored Zone of the SIA S&P 500 Index Report for the first time since February of 2017. Yesterday, FTI moved up another 12 spots to 64th place and it is up 73 spots in the last month. A major breakout is underway after selling off in the early part of the year, the shares spent most of 2020 stuck trading sideways and base building in the $5.00 to $10.00 range. Last week’s breakout over $10.00 completed the base and signaled the start of a new uptrend.

Chemical producer DuPont de Nemours (DD) has returned to the Green Favored Zone of the SIA S&P 500 Index Report for the first time since June of 2018 after climbing 15 spots yesterday and 147 spots in the last month. After spending the summer consolidating after an initial recovery rally, the shares snapped a downtrend line and broke out over $60.00 to signal the start of a new advance. The shares haven’t looked back since then, advancing on $80.00 with recent gains coming on a jump in volumes indicating strengthening accumulation and increased investor interest.

Bank of America (BAC) has returned to the Green Favored Zone of the SIA S&P 100 Index Report for the first time since last March after climbing 2 spots yesterday and 54 spots in the last month. Back in November, price snapped out of a down trend with a breakaway gap. The start of a new uptrend was then confirmed in December when the shares completed a bullish Ascending Triangle base with a breakout over $29.00.