We last reported on Paycom Software (PAYC) in the October 5th, 2020 edition of the DSR. At that time PAYC had returned to the Green Zone for the first time since July after moving up 200 places and rising from the red zone to the Green Favored Zone. In the last few days, they have come under renewed accumulation, forming an unconfirmed Bullish Double Top pattern.
Power Corp (POW.TO) first entered the Green Favored Zone of the SIA TSX Composite Index report earlier this year on April 13th at a price of $34.29. After Friday’s close the shares were at $41.44 representing a 20.85% price appreciation since first entering the favored zone. A brief and shallow pullback occurred earlier this summer but now we see a significant breakout occur at its previous high near $40.00 with a another potential new upleg forming. Support can be found at the prior high near $40.00 while resistance is near the $48.00 area.
Back in February, a breakaway gap on volume signaled a positive shift in sentiment toward Thomson Reuters (TRI.TO) shares. Since then, the shares have been under steady accumulation, completing two bullish Ascending Triangle patterns, closing every day above their 50-day moving average and establishing an uptrend of consistently higher lows.
Boosted by a 4.9% one-day gain, clothing producer Under Armor (UAA) popped up into the Green Favored Zone of the SIA S&P 500 Index Report from the red zone in a single day. The shares finished in 127th place, up 165 spots on the day and 200 spots in the last month.
Signs of accumulation resuming have started to emerge with Nucor Corp (NUE) shares as they regained its 50-day average near $98.75 and the $100.00 round number, which has reversed polarity to become a new initial support range. It would take a breakout over $110.00 to signal the start of a new upleg.
A major breakout is underway in Advanced Micro Devices (AMD) shares. After staging a strong rally in the summer of 2020. In the last few days, the shares have blasted through the top of the range on high volume, indicating a surge in investor interest, and have confirmed the breakout with a move above $100.00, signaling the start of a new advance.
Logistics software producer Descartes Systems Group (DSG.TO) recently returned to the Green Favored Zone of the SIA S&P/TSX Composite Index Report for the first time since last October. The shares continue to climb up the rankings, having moved up 2 spots yesterday and 35 places in the last month to 39th place.
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.
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