Bank of Montreal (BMO) has climbed back up into the Green Favored Zone of the SIA S&P/TSX 60 Index Report after rising two spots in the relative strength ranking yesterday to 12th place. Shares have been under accumulation since bottoming out nearly a year ago, stringing together a series of positive technical signals.
Steelmaker Nucor (NUE) recently returned to the Green Favored Zone of the SIA S&P 500 Index Report for the first time since early 2017. The shares finished Friday in 96th place, up 18 spots on the day and up 159 spots over the last month.
US Bancorp (USB) has returned to the Green Favored Zone of the SIA S&P 100 Index Report for the first time since 2012. The shares recently overtook their 2017 peak and finished yesterday in 25th place, up 1 spot on the day and up 28 spots over the last month. Since completing a bullish Ascending Triangle breakout back in November, US Bancorp (USB) shares have been under increased accumulation, as shown by the steepening of their uptrend support line. Last month, the shares broke out over $50.00 and yesterday they cleared $55.00 to confirm that their current uptrend continues.
Chemical producer Dow Inc. (DOW) has consistently been in the Green Favored Zone of the SIA S&P 100 Index Report since June, and is currently on the rise once again. Yesterday the shares finished in 12th place, up 2 spots on the day and up 13 spots over the last month. Since we last mentioned DOW in the August 11th edition of the Daily Stock Report, the shares have climbed 47.3%.
Since we last mentioned Intertape Polymer Group (ITP.TO) in the November 18th edition of the Daily Stock Report, the shares have climbed 48.0%, and have remained within the Green Favored Zone of the SIA S&P/TSX Composite Index Report. Yesterday the shares finished in 6th place, up 1 spot on the day and up 47 spots over the last month.
Bouncing back from a brief dip into the red zone, Boeing (BA) recently returned to the Green Favored Zone of the SIA S&P 500 Index Report and continues to climb up the rankings. The shares finished yesterday in 36th place, up 30 spots on the day and up 242 spots over the last month, boosted by an 8.2% gain in the share price. Shares continue to accelerate to the upside this week, gapping up toward $60.00 as they build on last month’s big breakout over $50.00, which completed a large, bullish, Ascending Triangle base and signaled the start of a new uptrend.
Recovering from a brief dip into the red zone, Boeing (BA) has returned to the Green Favored Zone of the SIA S&P 100 Index Report for the first time in about two months. The shares finished Friday in 21st place, up 11 spots on the day and up 45 spots over the last month.
Integrated oil producer Imperial Oil (IMO.TO) continues to climb within the Green Favored Zone of the SIA S&P/TSX 60 Index Report. The shares finished yesterday in 8th place, up 2 spots on the day and up 8 spots over the last month. Back in the fall, Imperial Oil (IMO.TO) completed a bullish Ascending Triangle Base with a breakout over $25.00, and then consolidated its gains for a few weeks retesting the breakout point and its 50-day average.
Benefitting from renewed interest in airlines, Air Canada (AC.TO) recently returned to the Green Favored Zone of the SIA S&P/TSX Composite Index Report and continues its climb up the rankings which started down in the red zone. The shares finished yesterday in 24th place, up 8 spots on the day and up 118 spots over the last month.
Altus Group (AIF.TO) a provider of software and consulting services to the commercial real estate industry, returned to the Green Favored Zone of the SIA S&P/TSX Composite Index report yesterday for the first time since November. The share finished yesterday in 46th place, up 11 spots on the day and up 120 spots over the last month.
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