Breakout Stocks of Week 27 @ TSX
NASDAQ was up last week (week 26) by 0.244% ending at 17,732.60 points after gaining 43.24 points during the week. Our system has detected some possible breakout stocks for the following week and these should be on your watchlist. These are the stocks that are bouncing up with good increase in volume and are likely to do good in short term. One of these stocks are Canadian Tire Corporation Limited Class A TSX:CTC-A. This stock has had a buy signal since Jun 25, 2024 when the price was $135.70 and is so far up 0.0295% to $135.74. Some other companies are on our watchlist to, among these are Sandstorm Gold Ltd. TSX:SSL Vanguard FTSE Developed All Cap ex North Amer Idx ETF TSX:VIU Fortis Inc. TSX:FTS and Osisko Gold Royalties Ltd TSX:OR which all got a breakout pattern emerging.
| Date | Company | Price | Change |
|---|---|---|---|
| Canadian Tire Corporation Limited Class A | $135.74 | $135.94 ( 2nd Jul 2024 ) | 0.147% |
| Sandstorm Gold Ltd. | $7.44 | $7.50 ( 2nd Jul 2024 ) | 0.81% |
| Vanguard Ftse Developed All Cap Ex North Amer Idx... | $33.99 | $34.06 ( 2nd Jul 2024 ) | 0.206% |
| Fortis Inc. | $53.17 | $53.00 ( 2nd Jul 2024 ) | -0.320% |
| Osisko Gold Royalties Ltd | $21.32 | $21.34 ( 2nd Jul 2024 ) | 0.0938% |
The Canadian Tire Corp Ltd Class A stock price gained 0.526% on the last trading day (Friday, 28th Jun 2024), rising from $135.03 to $135.74. During the last trading day the stock fluctuated 0.87% from a day low at $135.00 to a day high of $136.17. The price has risen in 6 of the last 10 days and is up by 0.44% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 374 thousand more shares were traded than the day before. In total, 501 thousand shares were bought and sold for approximately $67.95 million.
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
About Canadian Tire Corporation Limited Class A:
Empire Company Limited, together with its subsidiaries, engages in the food retail and related real estate businesses in Canada. It operates through two segments, Food Retailing, and Investments and Other Operations. The company owns, affiliates, and franchises approximately 1,600 retail stores under various retail banners, including Sobeys, Safeway, IGA, Foodland, FreshCo, Thrifty Foods, Farm Boy, Longo's, and Lawtons Drugs; and approximately 350 retail fuel locations, as well as operates grocery e-commerce stores under the banners, such as Voilà, Grocery Gateway, IGA.net, and ThriftyFoods.com. It also owns interest in the Crombie Real Estate Investment Trust, an open-ended real estate investment trust to own, operate, and develop a portfolio of grocery and pharmacy-anchored shopping centers, freestanding stores, and mixed-use developments; and various equity accounted interests in Genstar partnerships that develop residential real estate properties in Ontario, Western Canada, and the United States. The company was founded in 1907 and is headquartered in Stellarton, Canada.
The Sandstorm Gold Ltd. stock price gained 0.405% on the last trading day (Friday, 28th Jun 2024), rising from $7.41 to $7.44. During the last trading day the stock fluctuated 2.45% from a day low at $7.34 to a day high of $7.52. The price has been going up and down for this period, and there has been a -0.4% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 225 thousand more shares were traded than the day before. In total, 420 thousand shares were bought and sold for approximately $3.13 million.
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Sandstorm Gold Ltd. stock to perform well in the short-term period.
About Sandstorm Gold Ltd.:
Sandstorm Gold Ltd. operates as a gold royalty company. The company focuses on acquiring royalties and gold and other metals purchase agreements (streams) from companies that have advanced stage development projects or operating mines. It offers upfront payments for companies to acquire a stream or royalty and receives the right to purchase a percentage of a mine's production for the life of the mine at a fixed price per unit or at a fixed percentage of the spot price. The company has a portfolio of 230 streams and royalties. It primarily has operations in Canada, Mexico, the United States, Mongolia, Burkina Faso, Ecuador, South Africa, Ghana, Botswana, Cote D'Ivoire, Argentina, Brazil, Chile, Peru, Egypt, Ethiopia, Guyana, Paraguay, French Guiana, Turkey, Sweden, Fiji, and Australia. The company was formerly known as Sandstorm Resources Ltd. and changed its name to Sandstorm Gold Ltd. in February 2011. Sandstorm Gold Ltd. was incorporated in 2007 and is headquartered in Vancouver, Canada.
Vanguard FTSE Developed All Cap ex North Amer Idx ETF
TSX:VIUThe Vanguard FTSE Developed All Cap ex North ETF price gained 0.0883% on the last trading day (Friday, 28th Jun 2024), rising from $33.96 to $33.99. During the last trading day the ETF fluctuated 0.620% from a day low at $33.86 to a day high of $34.07. The price has risen in 6 of the last 10 days but is still down by -1.11% for this period. Volume fell on the last day by -13 thousand shares and in total, 67 thousand shares were bought and sold for approximately $2.27 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Vanguard FTSE Developed All Cap ex North holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
The Fortis Inc. stock price fell by -0.449% on the last day (Friday, 28th Jun 2024) from $53.41 to $53.17. During the last trading day the stock fluctuated 1.04% from a day low at $53.02 to a day high of $53.57. The price has fallen in 7 of the last 10 days and is down by -0.97% for this period. Volume has increased on the last day by 26 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 861 thousand shares were bought and sold for approximately $45.78 million.
Fortis Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About Fortis Inc.:
Fortis Inc. operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 438,000 retail customers in southeastern Arizona; and 100,000 retail customers in Arizona's Mohave and Santa Cruz counties with an aggregate capacity of 3,485 megawatts (MW), including 53 MW of solar capacity and 252 MV of wind capacity. The company also sells wholesale electricity to other entities in the western United States; owns gas-fired and hydroelectric generating capacity totaling 65 MW; and distributes natural gas to approximately 1,065,000 residential, commercial, and industrial customers in British Columbia, Canada. In addition, it owns and operates the electricity distribution system that serves approximately 577,000 customers in southern and central Alberta; owns 4 hydroelectric generating facilities with a combined capacity of 225 MW; and provides operation, maintenance, and management services to five hydroelectric generating facilities. Further, the company distributes electricity in the island portion of Newfoundland and Labrador with an installed generating capacity of 143 MW; and on Prince Edward Island with a generating capacity of 130 MW. Additionally, it provides integrated electric utility service to approximately 68,000 customers in Ontario; approximately 272,000 customers in Newfoundland and Labrador; approximately 32,000 customers on Grand Cayman, Cayman Islands; and approximately 16,000 customers on certain islands in Turks and Caicos. The company also holds long-term contracted generation assets in Belize consisting of 3 hydroelectric generating facilities with a combined capacity of 51 MW; and the Aitken Creek natural gas storage facility. It also owns and operates approximately 90,200 circuit Kilometers (km) of distribution lines; and approximately 50,500 km of natural gas pipelines. Fortis Inc. was founded in 1885 and is headquartered in St. John's, Canada.
The Osisko Gold Royalties Ltd stock price gained 0.188% on the last trading day (Friday, 28th Jun 2024), rising from $21.28 to $21.32. During the last trading day the stock fluctuated 1.65% from a day low at $21.21 to a day high of $21.56. The price has fallen in 6 of the last 10 days and is down by -5.16% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 165 thousand more shares were traded than the day before. In total, 289 thousand shares were bought and sold for approximately $6.17 million.
Osisko Gold Royalties Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About Osisko Gold Royalties Ltd:
Osisko Gold Royalties Ltd acquires and manages precious metal and other royalties, streams, and offtake and other interests in Canada and internationally. It also owns options on royalty/stream financings; and exclusive rights to participate in future royalty/stream financings on various projects. The company's primary asset is a 5% net smelter return royalty on the Canadian Malartic mine located in Canada. It is also involved in the exploration, evaluation, and development of mining projects. It primarily explores for precious metals, including gold, silver, diamond, and others. The company is headquartered in Montreal, Canada.
Despite these candidates are looking good from a technical perspective they may not perform as expected. You should always be cautious when trading and base your decisions on more than one source of information. This does not constitute an offer or recommendation to buy or sell securities.
