US drugstore chain Walgreens Boots has jumped up out of the red zone into the Yellow Neutral Zone of the SIA S&P 100 index report, suggesting a rotation into defensive names may be starting. The shares climbed 14 spots yesterday to 41st place and they are up 51 places in the last month.
Marijuana producers Canopy Growth (WEED.TO) re-entered the Green Favored Zone of the SIA S&P/TSX 60 Index Report and has continued to climb up the rankings. Yesterday it moved up another two places into top spot.
Base Metal miner Hudbay Minerals (HBM.TO) dropped out of the green zone of the SIA S&P/TSX Composite Index Report for the first time since June yesterday. The shares now find themselves in the Yellow Neutral Zone after dropping 29 spots in one day and 51 spots over the last month to 59th place. A bearish trend change appears to be underway as back in December shares had become overbought on the RSI indicator at bottom suggesting they were getting due for a pause or a correction, and they encountered resistance near the $10.00 round number just as they had back in early 2019.
Household products producer Newell Rubbermaid (NWL) continues to climb within the Green Favored Zone of the SIA S&P 500 Index Report. Currently sitting in 40th place, NWL climbed 6 spots on Friday and is up 47 spots in the last month. A classic recovery breakout is underway since bottoming out with a bounce up off of the $10.00 level, the shares have been under renewed accumulation.
Base metal miner Teck Resources* (TECK.B.TO) has returned to top spot in the SIA S&P/TSX 60 Index Report. The shares have been in the Green Favored Zone since May. Since bottoming out last March, shares have been under accumulation, steadily recovering lost ground, advancing in a rising channel of higher highs and higher lows. *Shares of Teck Resources are held in portfolios managed by SIA Wealth Management
Ford Motor Company’s (F) relative strength has improved dramatically over the last six months, ending a six-year run in the red zone and driving back up into the Green Favored Zone of the SIA S&P 100 Index Report for the first time since 2014. Ford shares continue to climb up the rankings, rising another 9 spots yesterday to 8th place. Since we last mentioned Ford in the October 23rd issue of the Daily Stock Report, the shares have gained 32.2% and continue to climb.
A 9.3% gain propelled the shares of used car retailer Carmax (KMX) to a one-day jump of 120 spots in SIA S&P 500 Index to 90th place, returning it to the Green Favored Zone for the first time since October. Yesterday, the shares staged a major breakout, blasting through the $110.00 top of the channel to a new all-time high on increased volume, signaling the start of a new uptrend.
Corus Entertainment (CJR.B.TO) is once again on the rise within the Green Favored Zone of the SIA S&P/TSX Composite Index Report. Yesterday the shares moved up 2 spots to 20th place and are up 12 places in the last month. In the latter part of 2020, the shares completed a bullish Ascending Triangle base with a breakout over $4.00. Following a successful retest of the $4.00 breakout point as new support, the shares have accelerated upward, recently snapping a long-term downtrend line to confirm that a new uptrend has commenced.
Since we last mentioned bus producer NFI Group (NFI.TO) December 3rd issue of the Daily Stock Report, a lot has happened. A 55.0% gain for the share price since then has propelled the shares up from 67th place in the SIA S&P/TSX Composite Index Report, to 3rd place, along the way returning to the Green Favored Zone for the first time since May of 2018.
With the Energy sector attracting renewed interest this week, Marathon Oil (MRO) has returned to the Green Favored Zone of the SIA S&P500 Index report for the first time since June. The shares climbed 13 spots yesterday and are up 56 places in the last month. A long-term downtrend in Marathon Oil (MRO) shares bottomed out back in March, and since then, a bullish Ascending Triangle base had been forming. Yesterday, the shares completed the bullish triangle base with a breakout over $8.50 which confirms that a new recovery trend has commenced.
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