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.
Engineering and manufacturing software producer PTC Inc. joined the SIA S&P 500 Index Report back in April. For the second time in less than a year, PTC shares have staged a major breakout. Just as they did back in November, this week the shares have rallied to a new all-time high and completed a bullish Ascending Triangle pattern to signal the start of a new advance.
For the last six months, Monolithic Power Systems (MPWR), producer of power modules for semiconductors has been stuck in a sideways trading range between $300 and $400, consolidating previous gains. Since the last successful test of the channel bottom near $300, the shares have been under renewed accumulation, consistently climbing back up to the top of their range.
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