Chipmaker Intel* (INTC) spent over two years stuck in the red zone of the SIA NASDAQ 100 Index Report. Since May, however, it has been steadily climbing up the rankings, starting near rock bottom, then spending the summer in the yellow zone.
This week, INTC has returned to the Green Favored Zone for the first time since April of 2020 after climbing 5 spots to 22nd place.
Ending a three-month stay and a six month run of increasing relative performance, Cenovus Energy (CVE.TO) tumbled out of the green zone within the SIA S&P/TSX 60 Index Report and dropped back into the Yellow Neutral Zone after falling 7 spots yesterday to 18th place.
A positive earnings report and a general rebound in equities, particularly previously depressed high-beta names, propelled Shopify (SHOP.TO) to a 19.3% gain last week, including a rise of 2.4% on Friday alone.
This big two-day rally brought two months of weakening relative performance to an abrupt end as the shares jumped 33 spots in the SIA S&P/TSX 60 Index Report last week, including a move up of 7 positions on Friday to 13th place.
Boosted by a positive reaction to a better than feared earnings report, athletic clothing producer Gildan Activewear (GIL.TO) rallied 14.8%. This move helped GIL.TO to jump 13 spots in the SIA S&P/TSX 60 Index Report to 14th place.
Chevron (CVX) exited the green zone of the SIA S&P 100 Index Report back in March and dipped into the red zone over the summer. Although it did manage to rebound for a few weeks in the late summer, for the last month, CVX has been drifting back down toward the bottom of the Yellow Neutral Zone finishing yesterday in 51st place down 7 spots on the day and down 20 positions in the last month with the share price down 14.6% over that time.
Nutrien has been stuck in the Red Unfavored Zone of the SIA S&P/TSX 60 Index report for nearly a year now. Over this time, they have declined in value by 33.5%, compared with a 1-year decline of 3.75% for the S&P/TSX 60 Index.
Back in August, the shares climbed up off of rock bottom where they spent May-July, but they were unable to escape from the Red Unfavored Zone, and recently they have started to tumble back downwards again. Yesterday, Nutrien finished in 46th place, down 4 spots on the day.
After a drop of 25 spots yesterday and 46 places in the last month, First Quantum is currently in 61st place in the SIA S&P/TSX 60 Index Report one spot outside of dead last.
Cable company Charter Communications finally made it back into the green zone of the SIA S&P 100 Index Report in July after spending over 18 months in the red zone. Its favored run didn’t last long, however. On Friday, after the company’s quarterly results fell short of expectations on the sales side, CHTR dropped 9.6% to cap off a 14.1% decline for the week. The shares plunged 22 spots on the day in the relative strength rankings to 35th place, exiting the green zone and dropping into the Yellow Neutral Zone.
Boeing (BA) has had a rough month since it was last featured in the September 26th edition of the Daily Stock Report. At that time, it had just fallen out of the green zone in the SIA S&P 100 Index Report. Since then, its relative strength has continued to weaken.
On the back of a positive earnings report, Microsoft (MSFT) gained 3.1% yesterday and climbed 4 spots in the SIA S&P 100 Index Report to 12th place. The software giant has been a relative outperformer for much of this year. Since entering the Green Favored Zone on March 14th, Microsoft is up 30.6%, compared with a gain of 6.8% for the S&P 500 Index over the same time frame.
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