Toymaker Spin Master (TOY.TO) recently embarked on a new upswing within the Green Favored Zone of the SIA S&P/TSX Composite Index Report. Yesterday it finished in 17th place, up 10 spots on the day. Since we last mentioned Spin Master in the March 3rd issue of the Daily Stock Report, the shares are up $36.01.
Paypal Holdings (PYPL) has returned to the Green Favored Zone in the SIA S&P 100 Index Report for the first time since March, having rallied back up out of the red zone in recent days. Yesterday PYPL finished in 23rd place, up 4 spots on the day and up 31 places in the last month. Recently, the shares broke out of this range to the upside on volume, completing a bullish Ascending Triangle.
Concert promoter Live Nation (LYV) recently returned to the Green Favored Zone of the SIA S&P 500 Index Report and continues to rise up the rankings. Yesterday it finished in 77th spot, up 30 places on the day and up 137 places in the last month.
Like many stocks, Dream Office REIT (D.UN.TO) fell off a cliff when stock markets crashed in early 2020. Dream then spent 15 months building a base for recovery. Recent trading suggests that accumulation has finally resumed. Earlier this month, the units broke out over $22.50 completing a bullish Ascending Triangle pattern and signaling the start of a new uptrend.
Generac Holdings (GNRC), a producer of household backup power generators, joined the SIA S&P 500 Index Report back in March. Recently, the shares broke out of the $285 to $365 area where they had been consolidating since February, signaling that resistance has been overcome and a new advance has commenced.
A significant breakout is underway in Lightspeed POS (LSPD.TO) shares. For the last three months, the shares have been trending sideways between $67.00 and $93.50, digesting gains made in a previous rally. Yesterday, the shares broke out over $93.50 completing a bullish Ascending Triangle pattern and signaling the start of a new advance.
A significant breakout is underway in Shopify (SHOP.TO) shares. Last month, a downswing in the shares was contained by an underlying longer-term uptrend support line. Since then, the shares have been recovering and this week they cleared $1,600 on an uptick in volume, indicating renewed accumulation and confirming the start of a new upswing.
Diamondback Energy (FANG) has broken out over $85.00, signaling the start of a new upleg within a recovery trend that started in earnest last fall and was confirmed by the snapping out of a downtrend back in January.
Adobe Systems (ADBE) spent the last nine months stuck in a sideways trading range between $420 and $535. In the last few days, the shares have come under renewed accumulation, climbing on increasing volumes and have broken out to the upside, rallying to new all-time highs. This breakout has signaled the end of the recent consolidation phase and the start of a new rally phase.
The relative strength trend of advertising and marketing company Interpublic Group (IPG) has improved dramatically over the last year. Shares have been under steady accumulation, breaking through $22.50, a multi-year resistance level to confirm the start of a new uptrend, and consistently advancing from there. On Friday, they closed at a new all-time high, confirming ongoing investor interest.
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