Category: Daily Stock Report

With Silver attracting new interest from investors lately as a defensive haven alongside Gold, Pan American Silver (PAAS.TO) has rocketed up the ranks in the SIA S&P/TSX Composite Index Report, soaring up from deep in the red zone back into the Green Favored Zone for the first time since the summer of 2020.

Business software producer Oracle Corp.* has been steadily working its way up the rankings in the SIA S&P 500 Index Report. Starting deep in the red zone last March, Oracle returned to the Green Favored Zone in December and has been there since, returning 12.0%.

Two years of relative weakness for IT consulting and service provider CGI Inc. (GIB.A.TO) came to an end about a year ago. Starting last April, GIB.A spent the rest of 2022 slowly clawing its way back up the relative strength rankings in the SIA S&P/TSX 60 Index Report, a process which has accelerated since the start of this year.
CGI Inc. recently returned to the Green Favored Zone for the first time since January of 2020, and finished in 10th position on Friday, up 9 spots in the last month.

When we last looked at Shopify (SHOP.TO) in the February 22d issue of the Daily Stock Report, its shares were under pressure following a disappointing earnings report. Relative strength continued to weaken afterward and the shares dipped down into the red zone of the SIA S&P/TSX 60 Index Report. In recent weeks, however, the shares have rebounded and returned to the Green Favored Zone for the first time since early February.
Shopify has moved up 23 positions in the last month, including a gain of 2 spots yesterday, and it is currently in 7th place.

Royalty company Wheaton Precious Metals (WPM.TO) has been trending up the rankings in the SIA S&P/TSX Composite Index Report since September and with the exception of a short dip into the yellow zone earlier this month, it has consistently been in the Green Favored Zone since November.
Since we last mentioned WPM.TO in the December 8, 2022 edition of the Daily Stock Report, the shares are up 17.1%. Currently, WPM.TO is in 5th place, up 3 spots in the last month.

Franco-Nevada Corp (FNV.TO) has moved up 20 spots in the last week in the SIA S&P/TSX 60 Index Report and now ranks in the 16th position, just on the edge of entering the Favored zone. The last time it has ranked this high in the Report was in August of 2020. FNV.TO is up 6.17% over the last week and up 11% over the last month.

Since bottoming out in the red zone back in January, Apple (AAPL) has been steadily working its way back up the relative strength rankings in the SIA S&P 100 Index Report. Last week it returned to the Green Favored Zone for the first time since October, and today it returned to the Green Favored Zone of the SIA S&P 500 Index Report. In the SIA S&P 100 Index Report, Apple currently sits in 16th place, up 31 positions in the last month.

The relative strength chart for Bank of New York Mellon (BK) within the SIA S&P 500 reminds us of just how fast sentiment toward a sector can change, in this case, financial services. BK spent the last nine months of 2022 stuck in the red zone but started to work its way back up the rankings starting in September. In January it climbed into the yellow zone and by February it had returned to the green zone for the first time in nearly a year.
Since peaking on March 9th, however, BK has quickly tumbled back down the rankings, falling back into the Yellow Neutral Zone, Currently in 45th place after falling 11 spots on Friday, BK has dropped 24 positions in the last month and it is currently 8 spots away from a return to the red zone.

Chipmaker Advanced Micro Devices entered the Green Favored Zone in the SIA S&P 100 Index Report at the start of February for the first time since it joined that index last summer. Since then, the shares have remained in the Green Zone gaining 9.4% over the last six weeks.

Software giant Microsoft’s (MSFT) relative strength has improved significantly in the last two months. Starting in the red zone, Microsoft has steadily climbed back up the rankings in the SIA S&P 100 Index Report, recently returning to the Green Favored Zone for the first time since January of 2022.