Breakout Stocks of Week 13 @ TSX
NASDAQ was up last week (week 12) by 2.68% ending at 16,401.84 points after gaining 428.66 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 goeasy Ltd. TSX:GSY. This stock has had a buy signal since Mar 19, 2024 when the price was $163.27 and is so far up 0.92% to $164.77. Some other companies are on our watchlist to, among these are BetaPro Canadian Gold Miners -2x Daily Bear ETF TSX:HGD and Paramount Resources Ltd. Class A TSX:POU which all got a breakout pattern emerging.
| Date | Company | Price | Week 13 |
|---|---|---|---|
| Goeasy Ltd. | $164.77 | $159.39 | -3.27% |
| Betapro Canadian Gold Miners -2x Daily Bear Etf | $5.38 | $4.75 | -11.71% |
| Paramount Resources Ltd. Class A | $26.74 | $27.49 | 2.80% |
The goeasy Ltd. stock price fell by -0.81% on the last day (Friday, 22nd Mar 2024) from $166.12 to $164.77. During the last trading day the stock fluctuated 2.66% from a day low at $164.51 to a day high of $168.88. The price has been going up and down for this period, and there has been a 2.04% gain for the last 2 weeks. Volume has increased on the last day by 37 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, 51 thousand shares were bought and sold for approximately $8.43 million.
goeasy Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About goeasy Ltd.:
goeasy Ltd. provides non-prime leasing and lending services to consumers in Canada. The company operates through two segments, Easyfinancial and Easyhome. The Easyfinancial segment provides unsecured and real estate secured installment loans; personal, home equity, and auto loans; point-of-sale and small business financing; and value-added services. The Easyhome segment leases household furniture, appliances, electronics, computers, and unsecured lending products to retail consumers. As of December 31, 2021, it operated 294 easyfinancial locations that include 8 kiosks, as well as 158 easyhome stores that include 34 franchises. The company was formerly known as easyhome Ltd. and changed its name to goeasy Ltd. in September 2015. goeasy Ltd. was incorporated in 1990 and is headquartered in Mississauga, Canada
The BetaPro Canadian Gold Miners -2x Daily ETF price gained 1.32% on the last trading day (Friday, 22nd Mar 2024), rising from $5.31 to $5.38. During the last trading day the ETF fluctuated 3.05% from a day low at $5.24 to a day high of $5.40. The price has been going up and down for this period, and there has been a -3.41% loss for the last 2 weeks. Volume fell on the last day by -259 thousand shares and in total, 498 thousand shares were bought and sold for approximately $2.68 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.
BetaPro Canadian Gold Miners -2x Daily 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.
No changes to the price of Paramount Resources Ltd. Class A stock on the last trading day (Friday, 22nd Mar 2024). During the last trading day the stock fluctuated 1.51% from a day low at $26.44 to a day high of $26.84. The price has risen in 5 of the last 10 days but is still down by -0.63% for this period.
Paramount Resources Ltd. Class A holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
About Paramount Resources Ltd. Class A:
Paramount Resources Ltd., an independent energy company, explores for, develops, produces, and markets natural gas, crude oil, and natural gas liquids in Canada. The company's principal properties are the Montney and Duvernay developments located in Alberta and British Columbia. It also invests in public and private corporations. Paramount Resources Ltd. was founded in 1976 and is based in Calgary, 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.
