Category: Daily Stock Report

Diamondback Energy has been steadily climbing up the rankings in the SIA S&P 500 Index Report since July, when it exited the red zone. In August it returned to the Green Favored Zone for the first time since May and it continues to work its way up the relative strength rankings with a gain of two spots yesterday.

Walmart Inc. (WMT) has moved into the Favored zone of the SIA S&P 100 Index Report on September 25th for the first time in 3 years. It has since moved up 5 spots over the last month and currently holds the 23rd spot in the rankings.

Shares of food and beverage producer PepsiCo (PEP) continue to drift downward heading into Tuesday’s earnings report. PEP exited the green zone of the SIA S&P 100 Index Report at the beginning of July and since then, the shares are down 12.5%. Yesterday, PEP dropped into the Red Unfavored Zone for the first time since March after falling another 6 spots to 56th place.

Significant variations in Apple’s (AAPL) relative strength across a number of reports in recent months highlights the importance of the SIA Rank feature in SIA Charts, which averages a stock’s ranking across several reports. For example, although Apple is still barely clinging to the Green Favored Zone in the SIA S&P 100 and SIA S&P 500 Index Reports, it has dropped into the Yellow Neutral Zone in the SIA NASDAQ 100 and SIA Russell 1000 Index Reports along with a number of technology sector reports giving it an overall SIA rank in the Yellow Neutral Zone.
Apple has been trending downward in the SIA NASDAQ 100 Index Report since July, and it is down 5.4% since exiting the green zone. Yesterday it finished in 47th position, down 7 spots in the last month.

Caught between the negative impacts of rising interest rates and falling stock and bond markets, investment banks like Morgan Stanley (MS) have been struggling in the relative strength rankings this year. MS, for example, exited the green zone of the SIA S&P 100 Index Report back in April and spent the summer bouncing along the boundary between the yellow zone and the Red Unfavored Zone. In the last month, MS has dropped 9 spots to 59th place.

Between October of 2022 and May of 2023, Shopify (SHOP.TO) climbed all the way up the rankings in the SIA S&P/TSX 60 Index Report from dead last to top spot. Since July, Shopify has been losing relative ground, dropping out of the green zone and returning to the Red Unfavored Zone for the first time since March. Yesterday Shopify finished in 32nd place, down 28 spots in the last month.

Teck Resources (TECK.B.TO) has been bouncing along the boundary between the Green Favored Zone and the yellow zone of the SIA S&P/TSX 60 Index Report through the summer. It has started to climb more consistently recently, moving up 3 spots on Friday and 6 positions over the last month to 13th place.

Continuing a steady climb up the rankings in the SIA S&P 100 Index Report which started back in January, retailer Costco Wholesale (COST) has returned to the Green Favored Zone for the first time since November of 2022. In the last month, COST has moved up 4 positions to 23rd place.

Canadian Pacific (CP.TO) has been sliding down the rankings in the SIA S&P/TSX 60 Index Report since April. This may be seen as a sign of concern among investors that like the airlines, railroad earnings may be impacted moving forward by rising fuel and labor costs. CP.TO has dropped 6 positions within the Yellow Neutral Zone over the last month to 26th place, its lowest rank since June of 2022.

Last month, Amazon.com (AMZN) returned to the green favored zone of the SIA NASDAQ 100 Index Report for the first time since November of 2020, after spending most of the intervening three years stuck in the red zone. The party didn’t last long, however, and yesterday, AMZN dropped back into the Yellow Neutral Zone, confirming that a relative strength uptrend that started back in May has ended. AMZN finished Tuesday in 31st place, down 5 spots on the day and down 13 positions in the last month.