Category: Daily Stock Report

United Airlines (UAL) along with its competitors, has seen its relative strength weaken dramatically in recent weeks. The group outperformed through the summer boosted by strong travel demand, but since several airlines posted profit warnings earlier this month blaming high and rising fuel and labor costs, sentiment toward the sector has soured.
Over the last four months, UAL has completed a round trip within the SIA S&P 500 Index Report, climbing from the red zone to the green zone between April and July, then falling back into the Red Unfavored Zone over the course of September. Yesterday, United landed in 282nd place, down 215 positions in the last month.

Completing its rebound in the rankings from a spring slide, Chemical producer LyondellBasell (LYB) has returned to the Green Favored Zone of the SIA S&P 500 Index Report for the first time since April. Yesterday it finished in 126th place, up 6 spots on the day and up 50 positions in the last month.

Discount retailer Dollarama (DOL.TO) has been steadily climbing up the rankings in the SIA S&P/TSX Composite Index Report since March. This month it has returned to the Green Favored Zone from a short dip down into the yellow zone, boosted by stronger than expected earnings and same store sales announced last week. On Friday, DOL.TO finished in 32nd place, up 5 spots on the day and up 23 positions in the last month.

The last time we commented on WSP Global Inc (WSP.TO) was on May 29, 2023. WSP.TO initially entered the Favored Zone of the S&P/TSX Composite Index report on June 30, 2022, at a price of $145.54. It briefly dipped into the top of the Yellow Zone since then but held onto its Positive SMAX Score throughout its time in the Yellow Zone. Today we see the shares are at $195.30 representing a 34% increase. This is another perfect example of looking for names in the favored zone. The shares currently occupy the #39 spot in the TSX Comp Index report, up 6 spots in the last month.

Back in May, Mastercard (MA) returned to the Green Favored Zone of the SIA S&P 100 Index Report for the first time since October of 2020. Since then, the shares have consistently been in the lower half of the Green Zone, returning 12.9%. Yesterday, MA moved up 2 spots to 20th place.

Suncor Energy (SU.TO) has been climbing up the rankings in the SIA S&P/TSX Composite Index Report since July. Over the last two months, the shares have exited the red zone, climbed up through the yellow zone and yesterday, they returned to the Green Favored Zone for the first time since November. SU.TO is currently sitting in 56th position, up 2 spots on the day and up 87 places in the last month.

E3 Lithium (ETL.V) is the top ranked stock in the SIA S&P/TSX Venture Composite Index Report, having climbed 4 positions in the last month. Since returning to the Green Favored Zone back in July, the share price has doubled.

Google parent Alphabet Inc. (GOOG) has been steadily climbing up the rankings in the SIA S&P 100 Index Report since January. Starting deep in the red zone, by May GOOG had returned to the Green Favored Zone for the first time in a year and since then, it has gained 16.5%. On Friday, Alphabet finished in 18th position, up 6 places in the last month.

International Business Machines (IBM) spent most of a decade stuck in the Red Zone of the SIA S&P 500 Index Report between early 2013 and early 2022. In the last eighteen months, however, IBM’s relative strength has improved significantly. In the last month, IBM has broken out of a downtrend in the rankings and yesterday it returned to the Green Favored Zone for the first time since January. Yesterday it finished in 125th place, up 6 spots on the day and up 55 positions in the last month.

Capping off a year-long relative strength recovery trend that started deep in the red zone of the SIA S&P 100 Index Report, communications equipment producer Cisco Systems (CSCO) finally returned to the Green Favored Zone at yesterday’s close for the first time since August of 2019. Yesterday CSCO finished in 26th place, up 2 spots on the day and up 26 positions in the last month.