TSX 60: K.TO, PWT.TO in the Spotlight Today (Sep-7-2017)

Blue Chip Stocks Gained in the TSX 60 Today

Kinross Gold Corporation traded positively today, up $0.23 or 4.04%. K ended the day at a price of $5.93 after fluctuating between $5.75 and $5.96. The trading volume is above average, 1.27 times more than average with 4,200,000 shares changed hands. Today’s movement is a rebound after yesterday’s dip. K closed higher in 6 of the last 10 trading days. Short term technical indicators is bullish. Investors should pay attention to the stock when it trades between the support and resistant levels near $5.67 and $6.09 respectively. Based on the stock performance within the past 52 weeks, the chart shows the stock is slightly overbought. The stock could go both up or down from the current price level. It could go deeper into the overbought territory and follow by a bit of profit taking in the next little while. Kinross Gold Corporation is a company in the Materials sector, it has a current market cap of 7.39B and its price to earning ratio is 114.19. The stock’s 52 week high is at $6.29 and 52 week low is at $3.87.

IAMGOLD Corporation moved the index higher in the market today, up $0.28 or 3.31%. IMG ended the day at a price of $8.73 per share after fluctuating between $8.54 and $8.76. The trading volume is above average with 1,990,000 shares changed hands. Today’s movement is a rebound after yesterday’s sell off. IMG closed positively in 7 of the last 10 trading days. Short term technical indicators is bullish. Traders should watch the stock closely when it trades between the short term support and resistant levels near $8.46 and $8.9 respectively. From the stock performance over the last year, the stock is extremely overbought at this price level. Trader should avoid chasing the stock at the current price. Those holding the stock should take profit here and wait for it to go lower before getting in again. IAMGOLD Corporation is a company in the Materials sector, it has a market cap of 3.95B and its PE ratio is 6.69. The stock’s 52 week high is at $8.87 and 52 week low is at $4.18.

Yamana Gold Inc. helped the TSX 60 gain ground in the market today, up $0.07 or 1.88%. YRI closed at $3.80 per share after flipping between $3.74 and $3.85. The volume is above average, 1.37 times more than average with 3,400,000 shares changed hands. Today’s movement is a rebound to the stock after yesterday’s sell off. YRI gained in 4 of the last 10 trading days. Technical indicators is bullish. Traders should watch the stock when it trades around the short term support and resistant levels near $3.69 and $3.91 respectively. Yamana Gold Inc. is a company in the Materials sector, it has a market capitalization of 3.44B and its PE ratio is 0.00. Yamana Gold Inc. also pays a 0.66% dividend to shareholders on an annual basis. The stock’s 52 week high is at $6.43 and 52 week low is at $2.84.

Eldorado Gold Corporation traded positively today, up $0.04 or 1.59%. ELD ended the day at a price of $2.55 after trading between $2.51 and $2.58. The trading volume is below average with 1,490,000 shares changed hands. Today’s closing figure is a rebound after yesterday’s sell off. ELD closed positively in 6 of the last 10 trading days. In the short term, the trend for this stock is bullish. Investors should pay attention to the stock when it trades between the short term support and resistant levels near $2.51 and $2.58 respectively. Based on the stock price within the past 52 weeks, the stock is trading within oversold territory. Long term investors with patience could accumulate the stock at this level. However, be careful there is a chance that it could move lower. Eldorado Gold Corporation is a company in the Materials sector, it has a current market capitalization of 2.02B and its price to earning ratio is 126.68. The stock’s 52 week high is at $5.63 and 52 week low is at $2.24.

Goldcorp Inc. traded higher today in the market, up $0.25 or 1.48%. G closed at $17.17 per share after trading between $16.93 and $17.33. The volume is below average with 1,670,000 shares exchanged. The movement today is a rebound to the stock after yesterday’s dip. G closed positively in 5 of the last 10 trading sessions. Short term technical indicators is bullish. Investors should watch the stock when it trades around the short term support and resistant levels near $16.74 and $17.54 respectively. Based on the stock performance within the past one year, it is slightly oversold. The stock could go both up or down from the current price level. 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. Goldcorp Inc. is a company in the Materials sector, it has a current market capitalization of 14.47B and its PE ratio is 25.89. Goldcorp Inc. also pays a 0.58% dividend to shareholders on an annual basis. The stock’s 52 week high is at $23.35 and 52 week low is at $15.76.

Metro, Inc. is one of the top gainer today, up $0.51 or 1.29%. MRU.A closed the day at a price of $39.98 after trading between $39.43 and $40.10. The volume is average with 591,942 shares exchanged. Today’s gain finally put an end to the stock’s 4 days losing streak. MRU.A closed higher in 2 of the last 10 trading days. The trend is bearish. Traders should pay close attention to the stock when it trades between the support and resistant levels near $39.17 and $40.51 respectively. Metro, Inc. is a company in the Consumer Staples sector, it has a current market cap of 9.10B and its price to earning ratio is 15.93. Metro, Inc. also pays a 1.63% dividend to shareholders on an annual basis. The stock’s 52 week high is at $47.41 and 52 week low is at $38.00.

Valeant Pharmaceuticals Int helped the TSX 60 gain ground today in the market, up $0.17 or 1.06%. VRX closed the day at a price of $16.25 after fluctuating between $15.99 and $16.37. The trading volume is below average, only 65 percent of its average volume with 843,764 shares changed hands. Today’s movement finally put an end to the stock’s 3 days losing streak. VRX gained in 5 of the last 10 trading days. In the short term, the trend is bearish. Traders should pay attention to the stock when it trades around the short term support and resistant levels near $15.82 and $16.58 respectively. From the stock price over the last 52 weeks, the stock is slightly oversold. The stock could go both up or down from the current price. It could move lower and follow by a buy back from value investor or trader in the next few months. Valeant Pharmaceuticals Int is a company in the Health Care sector, it has a market capitalization of 5.59B and its PE ratio is 0.00. The stock’s 52 week high is at $39.48 and 52 week low is at $11.20.

Blue Chip Stocks Lose Ground Today in the TSX 60

Penn West Petroleum Ltd traded negatively in the market today, down $0.04 or -3.15%. PWT closed at $1.23 per share after trading between $1.23 and $1.27. The volume is unusually low, only 47 percent of its average volume with 303,732 shares exchanged. Today’s movement is a sell off to the stock after yesterday’s gain. PWT ended the session negatively in 3 of the last 10 trading sessions. In the short term, the trend for this stock is bullish. Investors should pay attention to the stock when it trades nearly the support and resistant levels near $1.22 and $1.26 respectively. Penn West Petroleum Ltd is a company in the Energy sector, it has a market cap of 620.32M and its PE ratio is 0.00. The stock’s 52 week high is at $1.72 and 52 week low is at $1.03.

Power Corporation of Canada took some points off the TSX 60 today, down $0.71 or -2.35%. POW ended the day at $29.62 after flipping between $29.59 and $30.35. The trading volume is above average, 1.22 times more than average with 870,111 shares changed hands. Today’s decline adds to the stock’s 2 days losing streak. POW declined in 4 of the last 10 trading days. Short term technical indicators is bearish. Traders should watch the stock when it trades between the support and resistant levels near $29.09 and $30.61 respectively. Power Corporation of Canada is a company in the Financials sector, it has a market capitalization of 12.25B and its PE ratio is 10.07. Power Corporation of Canada also pays a 4.84% dividend to shareholders annually. The stock’s 52 week high is at $32.49 and 52 week low is at $26.80.

Manulife Financial Corporation is one of the top laggard today in the market, down $0.37 or -1.55%. MFC closed the market at $23.55 per share after fluctuating between $23.50 and $23.88. The volume is below average, only 69 percent of its average volume with 1,950,000 shares changed hands. The movement today adds to the stock’s 2 days losing streak. MFC dropped in 6 of the last 10 trading days. Short term technical indicators is bearish. Traders should watch the stock closely when it trades between the short term support and resistant levels near $23.26 and $24.02 respectively. Manulife Financial Corporation is a company in the Financials sector, it has a market capitalization of 46.59B and its price to earning ratio is 12.83. Manulife Financial Corporation also pays a 3.48% dividend to shareholders annually. The stock’s 52 week high is at $26.11 and 52 week low is at $17.64.

Enbridge Inc. traded lower today, down $0.67 or -1.34%. ENB closed the day at $49.23 per share after fluctuating between $49.23 and $49.91. The trading volume is unusually high, 1.73 times more than average with 3,070,000 shares changed hands. Today’s closing figure is a sell off to the stock after yesterday’s uptick. ENB declined in 4 of the last 10 trading sessions. In the short term, the trend is bearish. Investors should pay attention to the stock when it trades between the short term support and resistant levels near $48.78 and $50.14 respectively. Based on the stock performance over the past one year, it is extremely oversold at this price range. Long term investors may want to accumulate the stock at this price and wait for it to rebound in the coming months. However, be careful that it could stay in oversold territory for a while. The risk is high and taders must have a plan on when to get out or set tight stop loss. Enbridge Inc. is a company in the Energy sector, it has a current market cap of 81.22B and its price to earning ratio is 35.71. Enbridge Inc. also pays a 4.96% dividend to shareholders annually. The stock’s 52 week high is at $59.19 and 52 week low is at $49.20.

Bombardier, Inc. traded lower in the market today, down $0.03 or -1.23%. BBD.B closed the day at a price of $2.40 after fluctuating between $2.40 and $2.43. The volume is unusually low, only 30 percent of its average volume with 1,270,000 shares exchanged. Today’s movement is a sell off after yesterday’s gain. BBD.B closed negatively in 7 of the last 10 trading days. In the short term, the trend is bearish. Traders should pay attention to the stock when it trades between the support and resistant levels near $2.38 and $2.44 respectively. Bombardier, Inc. is a company in the Industrials sector, it has a market capitalization of 5.54B and its price to earning ratio is 0.00. The stock’s 52 week high is at $2.76 and 52 week low is at $1.56.

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