Category: Daily Stock Report

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.

Canada Goose shares have jumped 7.3% in the last week and 23.7% over the last month, while the benchmark TSX index was up less than 1% over the same periods. This rally has enabled GOOS.TO to jump 148 positions out of the red zone and into the Yellow Neutral Zone of the SIA TSX Composite Matrix Report.

Target Corp (TGT) has started to really breakdown this week, falling below $150.00. The shares had already been under distribution falling away from a high near $180.00 back in April. In recent weeks, the shares had snapped an uptrend line and dropped back under their 10-week moving average, both bearish signs.

Transportation stocks, particularly railroads and courier companies, have been struggling in relative strength rankings lately, which may potentially be a sign of a slowing economy. Canadian Pacific (CP.TO), for example, fell out of the green zone of the SIA S&P/TSX 60 Index Report in March, spent the last two months sliding down through the yellow zone and yesterday, it dropped back into the Red Unfavored Zone after falling two spots to 32nd place.

Restaurant Brands International (QSR.TO) has been in the Red Unfavored Zone since the beginning of April and is currently in 40th place. Since entering the Red Unfavored Zone, the shares are down 4.5% vs. 1.9% for the S&P/TSX Composite Index, as QSR’s candlestick chart completes a Bearish Descending Triangle.