Our Channel Breakers weekly report features all of the Canadian stocks that broke above or broke below their respective price-channels, using weekly closing prices from technical charts provided by theUpTrend.com. These charts are suitable for use primarily by intermediate-term investors.
COMMENT: We are heading into September, the worst month, historically, for stock performance. The market, again, is largely being influenced, not by fundamentals so much as by geopolitical whims. This is likely to become the “norm” for some time. This past week in our Channel Breakers analysis, ten stocks broke above their respective upper channel line, and there were two stocks that dropped below their respective channel line.
Note: To access a chart in the table below, click on the company’s name.
| BUY STOCKS | |||
| AGFb.TO | AGF Management Stk B | Positive Momentum | $ 5.60 |
| BNS.TO | Bank of Nova Scotia | Positive Momentum | $ 70.80 |
| CWB.TO | Canadian Western Bank | Positive Momentum | $ 31.76 |
| FCR.TO | First Capital Realty | Positive Momentum | $ 22.18 |
| MG.TO | Magna International | Positive Momentum | $ 66.66 |
| MRC.TO | Morguard | Positive Momentum | $ 197.01 |
| NWC.TO | North West Company | Positive Momentum | $ 30.94 |
| OSB.TO | Norbord | Positive Momentum | $ 32.55 |
| SLF.TO | Sun Life Financial | Positive Momentum | $ 54.57 |
| TRP.TO | Transcanada Pipeline | Positive Momentum | $ 68.22 |
| SELL/SHORT STOCKS | |||
| LB.TO | Laurentian Bank | Negative Momentum | $ 43.45 |
| VFF.TO | Village Farms International | Negative Momentum | $ 13.90 |
