Category: Daily Stock Report

Stantec Inc, which has been a solid contributor to the SIA 5-Stock Equity Income model’s returns, is now being replaced due to its recent drop to the Neutral Yellow Zone and a declining SMAX score. Although it provided steady performance with a 60% return since purchase, its recent underperformance suggests a shift is necessary. We are replacing Stantec with Agnico Eagle Mines, ranked #3 in the SIA Combined Dividend Index Report, to enhance the overall portfolio’s returns and maintain its high performance.

Canadian Imperial Bank of Commerce (CM.TO) has recently moved into the Favored Green Zone of the SIA S&P/TSX 60, reflecting a strong 28.16% YTD gain and a perfect SMAX score of 10. The stock has broken out of a two-year consolidation range, with support levels at $57, $66.54, and $73.47, and resistance at $89.56 and $100.86. It is noteworthy that major Canadian banks had been absent from the SIA S&P/TSX 60 Index Report for some time, so CM.TO’s inclusion is significant, aligning with earlier movements observed in other banking names in the SIA S&P 100 Index Report.

Bank of Nova Scotia (BNS) continues to languish in the Unfavored Red Zone of the SIA S&P/TSX 60 Index, where it has been for 804 days. Despite a 10.37% year-to-date rally, its 3-year return is only 1.75% and its 5-year return is 5.43%. Especially on a relative basis, compared to National Bank of Canada (NA.TO), which is in the Favored Green Zone with a YTD return of 24.99%, BNS’s performance highlights a significant disparity.

In today’s report, we highlight GE Aerospace’s impressive performance, with its share price surging 92.50% over the past year. Currently holding the #2 position in the Favored Green Zone of the SIA S&P 100 Index Report and boasting an SMAX score of 9 out of 10, GE Aerospace is well-positioned for another breakout. This update offers a detailed look at GE’s recent gains, its significant impact on portfolio performance, and its potential for continued growth.

Dollarama, a top pick in the SIACharts Hypothetical Canadian 5-Stock Model, has surged 67% since being purchased at $80.67. Its continued presence in the Favored Green Zone of the SIA S&P TSX 60 Index Report underscores its exceptional performance. The model itself has delivered a YTD return of 36.58%, significantly outperforming the TSX 60’s 14.48%, highlighting Dollarama’s critical role in driving these returns.

Brookfield Corporation (BN.TO) is showing strong recovery, with its shares climbing to new highs and a year-to-date return of 25.97%, significantly outperforming the Equal Weight S&P/TSX 60 Index Fund. The stock is breaking out of a consolidation phase, setting up for a potential catapult formation on the Point and Figure chart, which suggests a sustained price advance. As it approaches key resistance levels, BN.TO is poised for further gains, supported by a perfect SMAX score and strong relative strength.

Nvidia Corp. has consistently led the market, maintaining its top position despite fluctuations following its stock split in May. The stock faced some volatility during the summer but has demonstrated notable resilience. As we approach the pivotal binary earnings event, Nvidia’s enduring strength and performance remain crucial for investors navigating this key moment.

This edition of the daily stock report highlights Rolls-Royce Holdings PLC (RYCEY), a standout in the SIACharts Hypothetical International 5 ADR Model. Since its addition on March 13, 2023, Rolls-Royce has delivered an impressive 277.91% gain, significantly boosting overall portfolio performance. Discover how this top performer has driven exceptional returns and elevated the performance of this star-studded SIA hypothetical model portfolio.

Intact Financial Corp. (IFC.TO), a major player in property and casualty insurance and a leader in commercial lines in the UK and Ireland, is currently ranked #14 in the SIA S&P-TSX 60 Index Report. Recently, its shares have transitioned from the Yellow Neutral Zone to the Favored Green Zone, indicating a potential for renewed market leadership and growth.

Cameco Corp. (CCO.TO) has been a notable performer among Canadian large caps, frequently positioned in the Green Favored Zone of the SIA S&P/TSX 60 Index Report. Recently, fluctuations in its relative strength have introduced volatility. With Kazatomprom scaling back its production forecast amid supply chain disruptions, Cameco’s relative strength remains a key area of focus. This report analyzes the stock’s shifting relative strength, examining current support and resistance levels and offering insights on its potential trajectory as market conditions evolve.