Yesterday, Stella Jones moved up 6 spots to 58th place, two spots away from a return to the Favored Green Zone. The last time Stella-Jones was in the Green zone (Mar 23- Feb24), it gained 34.9% vs. 5.9% for the S&P/TSX Composite Index over the same time period.
DR Horton (DHI) reached the top 5 in the SIA S&P 500 Index Report back in January. Since then, it has been steadily sinking in the relative strength rankings, and yesterday it dropped back down into the Yellow Neutral Zone for the first time since October. A breakdown below $139.50 would complete a bearish pattern and confirm the start of a new downtrend.
MEG Energy Corp. (MEG.TO) has dropped out of the green zone into the Yellow Neutral Zone of the SIA S&P/TSX Composite Index Report and is currently sitting in 65th place. Its drop of 53 positions in the last month is the second worst out of the 35 Energy stocks in the index, and its 9.5% price decline over the last month is the worst of the bunch.
After remaining highly ranked from August through April, Badger Infrastructure has seen its relative strength erode over the last month. Yesterday, BDGI.TO returned to the Red Unfavored Zone after falling 54 positions in the last month to 120th place.
A big winter rally in Salesforce.com (CRM) shares peaked back in March and since then they have been under distribution. Following an initial April decline, bulls were only able to muster up a small bounce before bears took over again.
Fortuna Silver Mines (FVI.TO) finished in 2nd position up 8 spots on the month and up 208 places in the last quarter. Since entering the Favored Zone back on April 3 at a price of $6.16 the shares have appreciated by 38% based on the closing price of $8.50. The TSX Composite Index has been basically flat in the same time frame.
Mondelez International (MDLZ) has been steadily sinking down the rankings in the SIA S&P 100 Index Report for over a year. It left the green zone in July of 2023 bounced around the yellow-red zone boundary for a few months but has consistently been in the Red Unfavored Zone since March. Since leaving the green zone last summer, Mondelez is down 5.5% while the S&P 100 Index is up 22.8%.
TD Bank is currently the lowest ranked of the Big Six banks in the SIA S&P/TSX 60 Index Report. In 52nd place, down 5 spots in the last month, TD.TO is in the lower half of the Red Unfavored Zone where it has been since March of 2023. TD Bank has been out of the green zone since April of 2022.
WSP Global spent over a year in the green zone of the SIA S&P/TSX 60 Index Report, during which time it returned 18.5% compared with a 9.1% gain for the S&P/TSX Composite Index. In the last month, WSP.TO has slipped -2.0%, while the index has gained +1.8%.
We last featured Shopify (SHOP.TO) in the March 7th edition of the Daily Stock Report. At that time, it had just dropped out of the green zone in the SIA S&P/TSX 60 Index Report into the yellow zone and was testing $100.00 round number support. Since then, the shares have continued to tumble down the rankings falling from 25th place to 48th place and dropping into the Red Unfavored Zone.
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