Category: Daily Stock Report

Microchip Technology Inc. (MCHP), in the dynamic Electronics and Semiconductors sector, is lagging behind its peers. Despite the sector’s overall strong performance, highlighted by giants like Nvidia and Broadcom, MCHP’s growth has been muted. Since falling from the SIA Charts NASDAQ 100 Index Report’s Favoured Zone in August, its shares have climbed only 3.7%, underperforming the NASDAQ 100 Index’s 15.6% gain. Recently, MCHP slipped into the Unfavored Zone, further descending 16 spots in just a month to 67th place in the SIA rankings.

West Fraser Timber (WFG.TO) is underperforming in the SIACharts’ relative strength rankings, hinting at the risks associated with the Materials sector, particularly forest products. Exiting the green zone early August , WFG.TO has remained flat, contrasting sharply with the S&P/TSX Composite Index’s 4.4% gain. Over the last month, West Fraser lost 8.9%, further lagging behind the benchmark index’s 0.9% decline. Now in the SIA Neutral Zone and ranked 103rd –a 26 spot drop– it signals a cautionary stance for the sector.

Railroad Canadian Pacific (CP.TO) drifted down the rankings in the SIA S&P/TSX 60 Index Report over the last eight months of 2023, sliding out of the green zone and falling down into the red zone. In the last month, the stock’s relative strength has started to improve and the shares have climbed back up out of the red zone into the Yellow Neutral Zone.
In the last month, CP.TO has climbed 14 positions to 23rd place. Over that time, the shares have climbed 9.15% while the S&P/TSX Composite Index has fallen 0.75%.

Mattr Corp. (MATR.TO) has seen a notable resurgence, climbing 51 spots in the SIA S&P/TSX Composite Index Report to 54th place, marking its return to the Green Favored Zone. With a 5.2% increase in share value year-to-date, outperforming the S&P/TSX Composite’s 0.1% gain, Mattr presents a compelling piece in the energy sector.

Wesdome Gold Mines (WDO.TO) surged 25.2% in a month, outpacing the S&P/TSX Composite Index and gold prices, thanks to strong exploration, earnings, and recent acquisition. Climbing 123 spots to rank 38th, Wesdome re-enters the Green Favored Zone of the SIA S&P/TSX Composite Index Report for the first time since July 2022.

Stelco Holdings (STLC.TO) recorded a notable 17.0% drop in the last month, sharply contrasting with the S&P/TSX Composite’s 1.0% gain. The company’s recent exit from the green zone of the SIA S&P/TSX Composite Index Report, plunging 22 spots to 88th, underscores the urgent reassessment of stocks in the cyclical sectors.

Meta Platforms Inc (META) soared in premarket this morning after impressing on earnings and announcing a quarterly dividend. Since joining SIACharts’ Green Favored Zone in March 2023, META’s shares have surged 103.4%, with an 11.5% increase year-to-date.

2023 saw Intel Corp (INTC) soar in the SIA S&P 100 Index Report, gaining 94.56% vs. the S&P 100’s 30.83%. 2024 tells a different story: INTC dropped 30 ranks in a month, now 36th and in the SIACharts Yellow Neutral Zone, with a 14.2% YTD decline, while the S&P 100 is up 2.3%.

PDD Holdings Inc. (PDD), better reconized as the owner of temu.com, faces a sharp decline, dropping 15 ranks to 43rd in the SIA NASDAQ 100 Index Report amid a broader market selloff. Recently exiting the green zone into the Yellow Neutral Zone, PDD’s performance echoes last year’s pattern, suggesting potential volatility ahead.