Category: Daily Stock Report

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.

Despite news of a positive US retail sales report on Monday, US retailers have been struggling on a relative basis for some time. Home Depot (HD) for example, failed in its latest attempt to return to the green zone in the SIA S&P 100 Index Report for the first time in over two years. Home Depot is currently only three spots away from a return to the red zone for the first time since December. Over the latest month, HD shares have fallen by 10.3%, a much steeper falloff than the 0.9% dip made by the benchmark S&P 100 Index.

Semiconductor stocks started the year off strong and were one of the top performing groups for the first part of the year. In recent weeks, capital has started to rotate out into other sectors and relative outperformance has been eroded. For some chipmakers relative performance has also weakened relative to other stocks in the group.
Advanced Micro Devices (AMD), for example, started to slide down the rankings in the SIA S&P 100 Index Report about a month ago. Starting from near the top of the relative strength rankings, it fell out of the green zone earlier this month. Since then, AMD has fallen down through most of the Yellow Neutral Zone, and it is currently only a few spots away from dropping into the red zone. AMD is currently in 50th place, down 45 spots in the last month.
AMD was in the green zone between November and April, over which time it returned 46.2%, compared with a gain of 18.0% for the S&P 100 Index over the same period. Since leaving the green zone earlier this month, AMD has lost 3.3%, while the S&P 100 Index has lost 1.1%.

With the price of Gold soaring to new all-time highs, gold and silver streaming stocks have been climbing in relative strength rankings as well. Today, we are going to look at Wheaton Precious Metals (WPM.TO) which we last commented on January 23, 2024, when the shares fell out of the Favored Zone into the Neutral Zone and further to the Red Zone on the SIA S&P/TSX 60 Index earlier this spring. Now the shares have clawed its way back into the Favored Zone of the TSX 60 Index.
Yesterday, WPM.TO finished in 15th position, up 3 spots on the week and up 36 places in the last month. Over the last month, the shares are up 18.83%, compared with a gain of 0.32% for the TSX 60 Index.

With the price of Gold soaring to new all-time highs, gold producers have been climbing in relative strength rankings. For the last two months, Agnico-Eagle Mines (AEM.TO) has been climbing back upward within the SIA S&P/TSX 60 Index Report. After falling through the first six weeks of this year, AEM.TO was deep in the red zone in February but since then, it has made its way back up into the Green Favored Zone for the first time since June.
Yesterday, AEM.TO finished in 12th position, up 2 spots on the day and up 24 places in the last month. Over the last month, the shares are up 12.5%, compared with a gain of 1.6% for the S&P/TSX Composite Index.

Energy producer Cenovus Energy (CVE.TO) has steadily been marching its way back up the relative strength rankings in the SIA S&P/TSX 60 Index Report for the last two months. Starting near rock bottom in February, the shares exited the red zone in March, and yesterday, they returned to the Green Favored Zone for the first time since November.
In the last month, CVE.TO has climbed 28 spots to 15th place. Over that time, the shares have gained 13.9% while the S&P/TSX Composite Index has moved up 2.1%.

Copper, Zinc, and Coal producer Teck Resources (TECK.B.TO) has been climbing up the relative strength rankings in the SIA S&P/TSX 60 Index Report, benefitting from a rally in energy and base metal prices.
The shares spent the late autumn and winter down in the red zone, but in recent weeks it has been on the rise, leaving the red zone in late March and returning to the Green Favored Zone this month for the first time since October.
TECK.B.TO has climbed 33 places in the last month, including a rise of 3 spots yesterday to 11th position. In the last month, the shares have rallied 19.8% compared to a gain of 2.9% for the S&P/TSX Composite Index over the same period.

Today, we are going to look at Eli Lilly & Co (LLY) which we last commented on August 16, 2023, when the price of the shares were at $546.62. Now the shares are at $777.29 representing a 42% increase since our last commentary on the stock. Furthermore, when the shares first entered the Favored Zone of the SIA S&P 100 Index back in early April of last year at a price of $354.62, the shares have gained over 112% in a year’s time versus the S&P 100’s gain of approximately 31% over the past trailing 1 year time frame. The shares currently occupy the #4 spot in the SIA S&P 100 Index, up 16 spots in the last quarter.

First Majestic Silver (FM.TO) gained 32.9% last week on a combination of factors. The Silver price has been soaring alongside Gold, attracting new interest to producers of either precious metal. Also, investors responded favorably to an earnings report and new resource estimates released by the company last week.
This combination of tailwinds enabled the stock to pop up from the red zone to the Green Favored Zone of the SIA S&P/TSX Composite Index Report and climb to its top rank in over three years. The shares finished on Friday in 13th position, up 90 spots last week and up 173 places over the last month.

With the price of oil rallying again yesterday, energy stocks continue to attract renewed interest. Suncor Energy (SU.TO) for example, has jumped from the red zone to the Green Favored Zone in the SIA S&P/TSX 60 Index Report this week, returning to the top tier for the first time since November.
In the last week, Suncor has jumped 11.8%, compared with a decline of 0.5% for the S&P/TSX Composite Index and a drop of 2.5% for the S&P 500 Index. This has enabled SU.TO to climb 25 spots in the SIA S&P/TSX 60 Index Report this week to 11th place.