Category: Daily Stock Report

Qualcomm (QCOM), a producer of semiconductors for wireless communications, recently returned to the Green Favored Zone of the SIA S&P 100 Index Report for the first time since March. Yesterday, QCOM finished in 18th place, up 7 spots on the day and up 46 positions in the last month.

This three-year weekly chart highlights the strength of Friday’s big rally and massive breakout in Canada Goose (GOOS.TO) shares. After soaring 19.3% on a spike in volume, a signal of strong new bullish investor interest, the shares closed above $60.00 for the first time since May of 2019 and completed a 2 ½ year bullish Ascending Triangle base to signal the start of a new uptrend.

Since bottoming out with the market in March of 2020, Nike (NKE) shares have been steadily advancing in a step pattern of rallies followed by periods of consolidation at higher levels. In recent weeks, the shares have started to climb again, regaining their 50-day average near $160.00 (which reverses polarity to become initial support) and breaking out to a new all-time high above $175.00 yesterday. Next potential upside resistance on trend appears in the $200.00 to $205.00 area where a round number and a measured move converge.

Throughout this year, ATS Automation Tooling Systems (ATA.TO) has been under accumulation, steadily advancing in a rising channel of higher highs and higher lows. This week the shares snapped a downtrend line, and rallied to a new all-time high on a jump in volume, indicating increased investor interest.

Asset manager Franklin Resources (BEN) has soared up the rankings in the SIA S&P 500 Index Report since reporting positive earnings and announcing an acquisition, returning to the Green Favored Zone for the first time since July. The shares kicked off this week with a breakaway gap that snapped a downtrend line and have continued to rally, blasting through the top of their previous range to trade at their highest levels since early 2018.

Throughout 2021, KLA Corp. (KLAC) has been under accumulation with most corrections and downswings being contained at consistently higher lows, including one a few weeks ago, which helped to confirm the current uptrend. In the last few days price gains have accelerated on higher volume indicating increasing investor interest. Yesterday, the shares broke through $375 to a new all-time high, signaling the start of a new upleg.

After soaring to start the year, Broadcom (AVGO) shares spent May to September in consolidation mode, trending sideways in two ranges first between $410 and $485, then between $475 and $510. Starting with a successful retest of $410 support in June, the shares had quietly come under renewed accumulation. This has become more apparent in the last two months with the shares completing two bullish Ascending Triangle breakouts, breaking out and holding above $500, plus their recent acceleration to new all-time highs.

Suncor Energy staged a major breakout yesterday, gapping up on the open, regaining $30.00, and blasting through the top of the $21.50 to $31.50 trading range that had been in place since June, all on a spike in volume, indicting a surge of renewed bullish interest from investors and signaling the start of a new upleg within a larger recovery trend.

Accumulation in Hilton Worldwide (HLT) shares continues to accelerate. Yesterday, the shares staged a major breakout, rallying up off of $135.00 support, which had previously been resistance, on a spike in volume, driving to a new all-time high, and forming a Bullish Engulfing candlestick pattern, all signaling the start of a new upleg.

Nvidia Corp. (NVDA)* staged a major breakout yesterday. For the last two months, the shares have been trending sideways between $200.00 and $230.00, consolidating a spring/summer advance. Yesterday, the shares gapped through resistance to a new all-time high on a jump in volume, competing a bullish Ascending Triangle pattern, signaling a surge in investor interest, and confirming the start of a new advance.