Back in October, asset manager Invesco (IVZ) returned to the Green Favored Zone of the SIA S&P 500 Index Report for the first time since 2013. Since then, the shares have continued to climb toward the top of the rankings, moving up 2 spots yesterday and 30 spots in the last month to 4th place.
Aurora Cannabis (ACB.TO) has benefitted lately from a rally in marijuana stocks on speculation that the new Democratic regime in the US could be friendlier to the pot sector. ACB.TO shares recently returned to the Green Favored Zone of the SIA S&P/TSX Composite Index report having climbed 175 spots in the last month. Yesterday, a 12.8% rally propelled the share up 30 spots to 25th place.
Uranium miner Cameco (CCO.TO) has returned to the Green Favored Zone of the SIA S&P/TSX Composite Index Report after climbing 46 spots yesterday. Cameco also moved up 9 spots in the SIA S&P/TSX 60 Index Report to 6th place.
Renewed interest in silver stocks last week propelled the shares of silver producer First Majestic Silver Corp. (FR.TO) to a 29.6% gain, driving it up 87 spots in the SIA S&P/TSX Composite Index Report over the week to 5th place near the top of the Green Favored Zone.
American Airlines (AAL) has returned to the Green Favored Zone of the SIA S&P 500 Index report after a 9.3% rally off earnings propelled the shares up 141 spots in one day to 85th place. A recovery trend continues to emerge in American Airlines (AAL) shares. Back in November, the shares completed a bullish Ascending Triangle patter with a breakout over $15.00 which has since reversed polarity and been established as current support. Yesterday, the shares rallied up off of $15.00 on volume, a sign of renewed interest.
US drugstore chain Walgreens Boots has jumped up out of the red zone into the Yellow Neutral Zone of the SIA S&P 100 index report, suggesting a rotation into defensive names may be starting. The shares climbed 14 spots yesterday to 41st place and they are up 51 places in the last month.
Marijuana producers Canopy Growth (WEED.TO) re-entered the Green Favored Zone of the SIA S&P/TSX 60 Index Report and has continued to climb up the rankings. Yesterday it moved up another two places into top spot.
Base Metal miner Hudbay Minerals (HBM.TO) dropped out of the green zone of the SIA S&P/TSX Composite Index Report for the first time since June yesterday. The shares now find themselves in the Yellow Neutral Zone after dropping 29 spots in one day and 51 spots over the last month to 59th place. A bearish trend change appears to be underway as back in December shares had become overbought on the RSI indicator at bottom suggesting they were getting due for a pause or a correction, and they encountered resistance near the $10.00 round number just as they had back in early 2019.
Household products producer Newell Rubbermaid (NWL) continues to climb within the Green Favored Zone of the SIA S&P 500 Index Report. Currently sitting in 40th place, NWL climbed 6 spots on Friday and is up 47 spots in the last month. A classic recovery breakout is underway since bottoming out with a bounce up off of the $10.00 level, the shares have been under renewed accumulation.
Base metal miner Teck Resources* (TECK.B.TO) has returned to top spot in the SIA S&P/TSX 60 Index Report. The shares have been in the Green Favored Zone since May. Since bottoming out last March, shares have been under accumulation, steadily recovering lost ground, advancing in a rising channel of higher highs and higher lows. *Shares of Teck Resources are held in portfolios managed by SIA Wealth Management
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