Category: Daily Stock Report

Mercadolibre (MELI) jumped 37 spots in the SIA Nasdaq 100 Index report in the last week, including a gain of 8 positions yesterday. In doing so, it has popped up out of the Unfavored zone, driven through the Neutral zone, and returned to the Favored zone for the first time since May.

SNC Lavalin (SNC.TO) has been steadily working its way up in the SIA S&P/TSX Composite Index Report since the start of this year, after spending all of 2022 stuck in the Red Zone. In March, it returned to the Green Favored Zone for the first time since September of 2021, and has gained 37.1% since then. Yesterday, SNC.TO climbed another 9 spots to 3rd place, and it is up 29 positions in the last month.

For the first time since joining the SIA S&P 500 Index Report back in March, grain trading and food processing company Bunge (BG) has entered the Green Favored Zone. This continues an upward trend which started in July and suggests that within yesterday’s broad market selloff there may have been some rotation into commodity and/or defensive sectors. Bunge currently sits in 111th place, up 64 spots yesterday and up 195 positions in the last month.

Drugmaker Merck (MRK) has been slipping down the rankings in the SIA S&P 100 Index Report since March. In July it fell out of the green zone into the Yellow Neutral Zone for the first time since last September and has continued to trend downward. Yesterday, Merck finished in 33rd position, down 2 spots on the day and down 17 places in the last month.

Tourmaline Oil (TOU.TO) has been steadily climbing up the rankings in the SIA S&P/TSX 60 Index Report since May. In June it exited the red zone and in July it returned to the Green Favored Zone for the first time since January. TOU.TO continues to rise up the relative strength rankings, finishing in 12th place yesterday, up 1 spot on the day and up 16 places in the last month.

Intuit (INTU), a producer of tax preparation and accounting software for individuals and small businesses, has been steadily climbing back up the rankings in the SIA S&P 500 Index Report since January of 2023. On Friday, it returned to the Green Favored Zone for the first time since January of 2022, finishing in 110th place, up 17 spots on the day and up 78 positions in the last month.

Semiconductor equipment producer Lam Research (LRCX) has consistently been in the Green Favored Zone of the SIA S&P 500 Index Report since February, returning 32.3% since we last mentioned it in the February 2nd edition of the Daily Stock Report. Yesterday, LRCX rallied 9.25% on the back of a positive earnings report and jumped 10 positions to 19th place.

Bouncing back from a spring dip down into the yellow zone, Copper producer First Quantum Minerals (FM.TO) returned to the Green Favored Zone of the SIA S&P/TSX 60 Index Report earlier this month and since then the shares have gained 17.5%. In the last month FM.TO has climbed 12 positions to 4th place.

With the exception of two dips into the yellow zone, most recently in May-June, steelmaker Nucor (NUE) has spent the last year in the Green Favored Zone of the SIA S&P 500 Index Report, reflecting robust economic conditions.
Nucor has been climbing up the rankings in the last month moving up 107 positions to 64th place. Yesterday, with the shares rallying 3.75% on the back of a positive earnings report, NUE moved up 10 spots.

With the exception of two short dips into the yellow zone, Prairiesky Royalty* (PSK.TO) has been in the Green Favored Zone of the SIA S&P/TSX Composite Index Report since the start of 2022. Over that time, PSK.TO has returned 63.3%. With crude oil and natural gas prices bounding back recently, Energy stocks have been attracting renewed interest and PSK.TO is the highest ranked Energy stock in this report currently sitting in 6th place, up 12 positions in the last month.