Category: Daily Stock Report

Five years to the day from the last time 3M (MMM) dropped into the red zone, and over six years since it fell out of the green zone of the SIA S&P 100 Index Report, MMM finally climbed back up into the Yellow Neutral Zone after moving up 40 spots in the last month.

Automaker General Motors (GM) spent most of 2022 and 2023 stuck in the red zone of the SIA S&P 100 Index Report and as recently as November, it was pretty much at rock bottom. Since moving up into the Yellow Neutral Zone, GM has gained 11.3% compared with a 4.9% return for the S&P 100 Index.

Big US banks have been climbing their way up relative strength rankings tables, and in many cases, moving up into the Green Favored Zone. Citigroup (C), for example, returned to the Green Favored Zone of the SIA S&P 100 Index Report, for the first time since June of 2021 after climbing 4 spots yesterday and 9 positions in the last month to 26th place.

Earlier this month, COP exited the red zone and has been moving up within the Yellow Neutral Zone, closing Friday in 32nd place, up 39 positions in the last month. Over that time, COP has gained 6.0%, while the S&P 100 Index has declined by 4.3%.  

Restaurants have been struggling in relative strength rankings lately. McDonalds Corp. (MCD), for example, dropped back into the Red Unfavored Zone of the SIA S&P 100 Index Report earlier in April. Over the last three months, MCD has declined by 7.4%, significantly underperforming the 5.4% gain made by the S&P 100 Index

BCE Inc. (BCE.TO) has been a perennial relative cellar dweller within the Canadian equity universe. The shares have been stuck in the Red Unfavored Zone since July of 2022, and they have been outside of the green zone since April of 2020. Currently BCE.TO is at rock bottom of the SIA S&P/TSX 60 Index Report, and fourth from the bottom in the SIA S&P/TSX Composite Index Report.

Despite news of a positive US retail sales report on Monday, US retailers have been struggling on a relative basis for some time. Home Depot (HD) for example, failed in its latest attempt to return to the green zone in the SIA S&P 100 Index Report for the first time in over two years. Home Depot is currently only three spots away from a return to the red zone for the first time since December. Over the latest month, HD shares have fallen by 10.3%, a much steeper falloff than the 0.9% dip made by the benchmark S&P 100 Index.

Semiconductor stocks started the year off strong and were one of the top performing groups for the first part of the year. In recent weeks, capital has started to rotate out into other sectors and relative outperformance has been eroded. For some chipmakers relative performance has also weakened relative to other stocks in the group.
Advanced Micro Devices (AMD), for example, started to slide down the rankings in the SIA S&P 100 Index Report about a month ago. Starting from near the top of the relative strength rankings, it fell out of the green zone earlier this month. Since then, AMD has fallen down through most of the Yellow Neutral Zone, and it is currently only a few spots away from dropping into the red zone. AMD is currently in 50th place, down 45 spots in the last month.
AMD was in the green zone between November and April, over which time it returned 46.2%, compared with a gain of 18.0% for the S&P 100 Index over the same period. Since leaving the green zone earlier this month, AMD has lost 3.3%, while the S&P 100 Index has lost 1.1%.

With the price of Gold soaring to new all-time highs, gold and silver streaming stocks have been climbing in relative strength rankings as well. Today, we are going to look at Wheaton Precious Metals (WPM.TO) which we last commented on January 23, 2024, when the shares fell out of the Favored Zone into the Neutral Zone and further to the Red Zone on the SIA S&P/TSX 60 Index earlier this spring. Now the shares have clawed its way back into the Favored Zone of the TSX 60 Index.
Yesterday, WPM.TO finished in 15th position, up 3 spots on the week and up 36 places in the last month. Over the last month, the shares are up 18.83%, compared with a gain of 0.32% for the TSX 60 Index.

With the price of Gold soaring to new all-time highs, gold producers have been climbing in relative strength rankings. For the last two months, Agnico-Eagle Mines (AEM.TO) has been climbing back upward within the SIA S&P/TSX 60 Index Report. After falling through the first six weeks of this year, AEM.TO was deep in the red zone in February but since then, it has made its way back up into the Green Favored Zone for the first time since June.
Yesterday, AEM.TO finished in 12th position, up 2 spots on the day and up 24 places in the last month. Over the last month, the shares are up 12.5%, compared with a gain of 1.6% for the S&P/TSX Composite Index.