Since we last mentioned concert promoter Live Nation (LYV) as a potential reopening play in the October 4th edition of the Daily Stock Report, the shares have gained 26.0%. Boosted by a positive quarterly sales report and strong advance ticket sales, Live Nation jumped 23 positions to 19th place within the Green Favored Zone of the SIA S&P 500 Index Report.
A big upswing is underway in Wesdome Gold Mines (WDO.TO) with the shares breaking through resistance in the $13.00-$13.50 area (which has reversed polarity and become initial support) to blast through the top of a sideways trading range that had formed above $10.00 over the last nine months, and to complete a bullish Ascending Triangle pattern.
With capital returning to defensive havens, even generally unloved sectors like tobacco have attracted renewed interest lately. Phillip Morris spent most of the last 5 years stuck in the red zone of the SIA S&P 100 Index Report. It started to climb back up the rankings last year and in the last few days it has returned to the Green Favored Zone for the first time since September of 2017. Yesterday, PM rose one position to 14th place and it is up 19 spots in the last month.
Since joining the SIA S&P/TSX Composite Index Report in December, Topaz Energy (TPZ.TO) has been steadily working its way up the rankings in the Green Favored Zone. On Friday, it climbed another two positions to 42nd place.
A major upturn is underway in Newell Rubbermaid (NWL) shares. Last May, a long-term uptrend topped out and the shares fell under distribution which continued until October. The shares then spend the last four months building a base for recovery in the $20.00 to $24.50 range. In the last month, NWL has come under renewed accumulation with the shares climbing on higher volumes. The shares have broken out their base, cleared the $25.00 round number hurdle, and continue to advance.
Following its big rally up off of the 2020 market bottom, Booking Holdings (BKNG) spent most of 2021 stuck in a sideways trading range between $2,000 and $2,500 consolidating its gains. A November breakout turned to be false, but underlying support held through the ensuing correction, which occurred on falling volumes. Since December, accumulation has resumed with the shares climbing on increasing volumes. Yesterday, Booking broke out to a new all-time high above $2,700, signaling that the recent pause has ended and a new uptrend has commenced.
For over 18 months, Marriott International (MAR) has been under accumulation, climbing a step pattern of rallies followed by pauses at higher levels and establishing an uptrend of consistently higher lows. Yesterday, the shares staged a major breakout, gapping up and soaring to a new high on strong volume, a sign of renewed investor interest kicking off a new advance.
Travel booking company Expedia Group (EXPE) has been steadily climbing back up the rankings in the SIA S&P 500 Index Report since December and advancing toward the top of the Green Favored Zone since January. Yesterday, Expedia finished in 28th place, up 6 positions on the day and up 67 spots in the last month.
New Gold (NGD.TO) shares staged a major breakout on Friday over $2.25, a move that snapped a long-term downtrend line and completed a bullish Ascending Triangle pattern, combining to signal that base building is over and a new uptrend has commenced. All of this happening on a spike in volume confirms renewed investor interest.
Lundin Mining (LUN.TO) shares have turned decisively upward this week, breaking out over $11.50 to complete a bullish Ascending Triangle base which formed over the four months since a summer 2021 selloff bottomed out near $8.50 last September.
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