TSX 60: CVE.TO, L.TO in the Spotlight Today (Sep-1-2017)

Blue Chip Stocks Gained in the TSX 60 Today

Cenovus Energy Inc traded positively today, up $0.18 or 1.84%. CVE ended the day at $9.95 after trading between $9.68 and $10.07. The volume is average with 3,330,000 shares changed hands. Today’s gain adds to the stock’s 3 days winning streak. CVE ended the session positively in 4 of the last 10 trading sessions. Technical indicators is bullish. Traders should watch the stock closely when it trades around the support and resistant levels near $9.51 and $10.29 respectively. From the stock price over the past 52 weeks, the chart shows the stock is trading within oversold territory. Long term investors with patience could buy into the stock around this level. However, be caution there is a chance that it could go lower. Cenovus Energy Inc is a company in the Energy sector, it has a market cap of 12.23B and its PE ratio is 4.27. Cenovus Energy Inc also pays a 2.01% dividend to shareholders on an annual basis. The stock’s 52 week high is at $22.06 and 52 week low is at $8.89.

Power Corporation of Canada is one of the top gainer today, up $0.53 or 1.74%. POW closed at a price of $31.05 per share after trading between $30.60 and $31.14. The volume is unusually high, 1.51 times more than average with 993,535 shares exchanged. The movement today is a rebound to the stock after yesterday’s dip. POW ended the session positively in 6 of the last 10 trading days. Short term technical indicators is bullish. Traders should pay attention to the stock when it trades nearly the support and resistant levels near $30.39 and $31.47 respectively. Power Corporation of Canada is a company in the Financials sector, it has a current market capitalization of 12.88B and its price to earning ratio is 10.55. Power Corporation of Canada also pays a 4.62% dividend to shareholders annually. The stock’s 52 week high is at $32.49 and 52 week low is at $26.80.

Teck Resources Limited helped the TSX 60 gain ground today in the market, up $0.5 or 1.61%. TCK.B closed at $31.58 after trading between $31.01 and $31.76. The trading volume is below average with 1,880,000 shares exchanged. Today’s closing figure finally put an end to the stock’s 2 days losing streak. TCK.B closed higher in 7 of the last 10 trading days. In the short term, the trend is bullish. Investors should pay attention to the stock when it trades around the support and resistant levels near $30.7 and $32.2 respectively. Teck Resources Limited is a company in the Materials sector, it has a current market capitalization of 18.25B and its price to earning ratio is 8.76. Teck Resources Limited also pays a 0.63% dividend to shareholders annually. The stock’s 52 week high is at $35.67 and 52 week low is at $19.27.

Penn West Petroleum Ltd traded positively in the market today, up $0.02 or 1.60%. PWT closed the day at $1.27 after fluctuating between $1.23 and $1.27. The volume is below average, only 61 percent of its average volume with 434,947 shares changed hands. Today’s movement adds to the stock’s 2 days winning streak. PWT gained in 6 of the last 10 trading days. Technical indicators is bullish. Investors should watch the stock closely when it trades around the support and resistant levels near $1.22 and $1.3 respectively. Penn West Petroleum Ltd is a company in the Energy sector, it has a current market capitalization of 640.50M and its price to earning ratio is 0.00. The stock’s 52 week high is at $1.72 and 52 week low is at $1.03.

Imperial Oil Limited fueled some of the TSX 60 gain today, up $0.48 or 1.30%. IMO closed at a price of $37.34 after trading between $36.83 and $37.45. The volume is unusually low, only 50 percent of its average volume with 374,259 shares changed hands. The movement today is a rebound to the stock after yesterday’s sell off. IMO closed higher in 8 of the last 10 trading sessions. Short term technical indicators is bullish. Traders should pay attention to the stock when it trades between the support and resistant levels near $36.59 and $37.83 respectively. From the stock price within the past 52 weeks, analysis shows the stock is slightly oversold. The stock could go both up or down from the current price range. It could stay in oversold territory for a while and follow by a buy back from value investor or trader in the next few months. Imperial Oil Limited is a company in the Energy sector, it has a market cap of 31.53B and its PE ratio is 11.74. Imperial Oil Limited also pays a 1.71% dividend to shareholders on an annual basis. The stock’s 52 week high is at $48.72 and 52 week low is at $35.15.

ARC Resources Ltd is one of the top gainer today, up $0.21 or 1.28%. ARX closed the market at $16.61 after fluctuating between $16.28 and $16.64. The volume is average with 792,814 shares changed hands. The movement today extends the stock’s gain from yesterday. ARX closed higher in 5 of the last 10 trading days. Short term technical indicators is bullish. Investors should pay close attention to the stock when it trades between the short term support and resistant levels near $16.15 and $16.87 respectively. Looking at the stock price within the last 12 months, the stock is trading within oversold territory. Long term investors with patience could buy into the stock at this level. However, be careful there is a chance that it could go lower. ARC Resources Ltd is a company in the Energy sector, it has a current market capitalization of 5.87B and its price to earning ratio is 12.72. ARC Resources Ltd also pays a 3.61% dividend to shareholders annually. The stock’s 52 week high is at $24.94 and 52 week low is at $15.61.

First Quantum Minerals Limited fueled some of the TSX 60 gain today, up $0.18 or 1.20%. FM closed the day at $15.23 per share after flipping between $14.94 and $15.26. The trading volume is average with 2,420,000 shares exchanged. Today’s closing figure extends the stock’s gain from yesterday. FM gained in 5 of the last 10 trading sessions. In the short term, the trend is bullish. Investors should pay close attention to the stock when it trades around the support and resistant levels near $14.82 and $15.46 respectively. First Quantum Minerals Limited is a company in the Materials sector, it has a market cap of 10.50B and its price to earning ratio is 0.00. First Quantum Minerals Limited also pays a 0.07% dividend to shareholders annually. The stock’s 52 week high is at $17.55 and 52 week low is at $9.63.

Blue Chip Stocks Lose Ground Today in the TSX 60

Loblaw Companies Limited is one of the mover to the downside today in the market, down $2.4 or -3.54%. L closed the day at a price of $65.33 per share after fluctuating between $65.21 and $67.26. The trading volume is unusually high, 2 times more than average with 1,160,000 shares exchanged. The movement today is a sell off to the stock after yesterday’s uptick. L closed negatively in 5 of the last 10 trading sessions. The trend is bearish. Investors should watch the stock closely when it trades around the support and resistant levels near $63.88 and $67.98 respectively. Looking at the stock price within the last 52 weeks, the stock is slightly oversold. The stock could go both up or down from the current price. It could stay in oversold territory for a while and follow by a buy back from value investor or trader in the next few months. Loblaw Companies Limited is a company in the Consumer Staples sector, it has a market cap of 25.82B and its PE ratio is 21.88. Loblaw Companies Limited also pays a 1.65% dividend to shareholders annually. The stock’s 52 week high is at $78.87 and 52 week low is at $62.33.

Kinross Gold Corporation took some points off the TSX 60 in the market today, down $0.14 or -2.46%. K closed the market at $5.55 after fluctuating between $5.53 and $5.78. The trading volume is average with 3,420,000 shares exchanged. Today’s movement puts an end to the stock’s 4 days winning streak. K ended the session negatively in 4 of the last 10 trading days. Technical indicators is bullish. Investors should pay attention to the stock when it trades nearly the short term support and resistant levels near $5.37 and $5.87 respectively. Kinross Gold Corporation is a company in the Materials sector, it has a current market capitalization of 6.92B and its price to earning ratio is 105.94. The stock’s 52 week high is at $6.29 and 52 week low is at $3.87.

George Weston Limited traded lower today, down $2.52 or -2.32%. WN ended the day at a price of $106.01 after flipping between $105.84 and $108.49. The volume is unusually high, 1.64 times more than average with 240,093 shares exchanged. Today’s closing figure puts an end to the stock’s 3 days winning streak. WN ended the session negatively in 4 of the last 10 trading sessions. In the short term, the trend is bearish. Investors should pay close attention to the stock when it trades around the short term support and resistant levels near $104.13 and $109.43 respectively. George Weston Limited is a company in the Consumer Staples sector, it has a market capitalization of 13.56B and its price to earning ratio is 22.81. George Weston Limited also pays a 1.72% dividend to shareholders annually. The stock’s 52 week high is at $125.67 and 52 week low is at $100.41.

Blackberry traded down in the market today, down $0.23 or -1.99%. BB closed at a price of $11.34 per share after trading between $11.34 and $11.59. The volume is above average, 1.44 times more than average with 1,680,000 shares changed hands. Today’s decline puts an end to the stock’s 4 days winning streak. BB ended the session negatively in 3 of the last 10 trading sessions. Short term technical indicators is bullish. Investors should watch the stock when it trades between the support and resistant levels near $11.17 and $11.67 respectively. Blackberry is a company in the Information Technology sector, it has a current market capitalization of 5.96B and its PE ratio is 41.17. The stock’s 52 week high is at $15.82 and 52 week low is at $8.98.

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