Daily Stock Report

TFI International Inc. - (TFII.TO) - August 5, 2022

TFI International Inc. (TFII.TO) has returned to the Green Favored Zone in the SIA S&P/TSX Composite Index Report back on July 12, 2022, at a price of $112.69. Today, the price of the shares are at $133.30 which is already representing an 18.3% return in 3 weeks since entering the Favored Zone. Currently the shares occupy the 8th spot in the TSX Composite Index, up 1 spot in the last day and up 92 spots in the past month.

In looking at the attached Candlestick chart, the shares found a bottom at approximately the $95.00 area back earlier in June. Since that time, the shares have rallied, and we now see the shares have broken above a key resistance point when the price closed above the $110.00 area.

Next potential resistance can now be found at the $140.00 level. Support can be found at the $116.00 level.

In the attached Point and Figure chart at a 2% scale, we see the shares experienced a very strong uptrend from April 2020 all the way until October of 2021 when the shares topped out at the $148.00 area. Since that time, the shares have pulled back and was in distribution phase before finally finding a bottom earlier in June at approximately the $94.00 range. Now we see a strong move to the upside so far this summer with the shares quickly approaching its peak of $148.00 it reached back in October 2021. 

There is upcoming resistance at the $140.00 area and, above that, next resistance is at the $148.00 peak. Support can be found at the 3 box reversal of $121.91 and, below that, the $100 psychological level. 

With an SMAX of 8 out of 10, TFII.TO is showing near term strength against all asset classes.

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