A major breakout is underway in Western Digital (WDC) shares which recently completed a bullish Ascending Triangle base which has been forming since March with a breakout over $50.00. Next potential upside resistance appears in the $65.00 to $73.00 zone. Initial support moves up to the $50.00 breakout point from $45.00.
After climbing 4 spots yesterday and 22 spots in the last month, Manulife Financial (MFC.TO) has climbed up out of the red zone in the SIA S&P/TSX 60 Index report to 16th place, the top of the Yellow Neutral Zone, one spot away from a return to the green zone for the first time since February.
After spending all of 2016 through 2019 in the yellow or red zones of the SIA S&P 100 Index Report, American Airlines (AAL) has now returned to the Green Favored Zone for the second time this year. Yesterday, the shares climbed 35 spots to 67th place and they have now ascended 356 spots in the last month.
After climbing 4 spots on Friday and 46 spots in the last month to 22nd place, credit card provider American Express (AXP) has returned to the Green Favored Zone of the SIA S&P 100 Index Report for the first time since September of 2019.
With the Boeing 737 Max 8 returning to service after being grounded for most of the last two years, Boeing (BA) shares have recently been enjoying their longest stretch in the Green Favored Zone of the SIA S&P 100 Index Report since early 2019. Yesterday, BA climbed another 8 spots in the rankings to 7th place having now climbed 72 spots in the last month.
In this week’s issue of Equity Leaders Weekly, we take a look at the emerging recovery in real estate stocks as an example of previously lagging sectors starting to catch up and at lumber as an example of renewed interest in industrial commodities.
Bus manufacturer NFI Group (NFI.TO) has been climbing up the rankings in the S&P/TSX Composite Index Report having moved up 9 spots yesterday and 91 spots in the last month. Initial upside resistance may appear in the $24.50 to $25.50 zone and Initial support appears near the $19.00 breakout point.
A new partnership with Amazon.com sparked an 18.7% rally in the shares of Blackberry (BB.TO) which jumped 49 spots in the SIA S&P/TSX Composite Report yesterday to 21st place. The shares are also up 148 spots in the last month. Within the report, the shares have returned to the Green Favored Zone for the second time this year after spending most of 2018 and 2019 in the yellow and red zones.
Fertilizer producer Nutrien Ltd. (NTR.TO) has returned to the Green Favored Zone in the SIA S&P/TSX 60 Index Report for the first time in two years after climbing 4 spots yesterday and 15 spots in the last month to 13th place.
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