TSX 60: VRX.TO, TCK.B.TO in the Spotlight Today (Sep-8-2017)

Blue Chip Stocks Gained in the TSX 60 Today

Valeant Pharmaceuticals Int is one of the mover to the upside today in the market, up $0.27 or 1.66%. VRX closed the market at $16.52 per share after fluctuating between $16.16 and $16.55. The trading volume is unusually low, only 45 percent of its average volume with 580,840 shares exchanged. Today’s movement extends the stock’s gain from yesterday. VRX ended the session positively in 5 of the last 10 trading sessions. In the short term, the trend for this stock is bearish. Investors should watch the stock when it trades around the support and resistant levels near $16.27 and $16.66 respectively. Looking at the stock price within the past one year, it is slightly oversold. The stock could go both ways from here. 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. Valeant Pharmaceuticals Int is a company in the Health Care sector, it has a market capitalization of 5.68B and its price to earning ratio is 0.00. The stock’s 52 week high is at $39.43 and 52 week low is at $11.20.

Bank of Montreal helped the TSX 60 gain ground today, up $0.95 or 1.07%. BMO ended the day at a price of $89.89 after fluctuating between $88.66 and $89.93. The trading volume is unusually high, 1.71 times more than average with 2,100,000 shares exchanged. Today’s gain finally put an end to the stock’s 5 days losing streak. BMO gained in 3 of the last 10 trading days. Technical indicators for this stock is bearish. Traders should watch the stock closely when it trades nearly the short term support and resistant levels near $89.06 and $90.33 respectively. Bank of Montreal is a company in the Financials sector, it has a current market capitalization of 58.29B and its PE ratio is 11.06. Bank of Montreal also pays a 4.00% dividend to shareholders on an annual basis. The stock’s 52 week high is at $104.15 and 52 week low is at $83.43.

Rogers Communications Inc. moved the index higher today, up $0.61 or 0.96%. RCI.B ended the day at $64.43 after trading between $63.66 and $64.56. The trading volume is average with 632,188 shares changed hands. Today’s gain finally put an end to the stock’s 5 days losing streak. RCI.B ended the session positively in 3 of the last 10 trading sessions. The trend is bearish. Investors should watch the stock when it trades around the short term support and resistant levels near $63.32 and $65.12 respectively. Based on the stock price over the last year, analysis shows the stock is trading within an overbought territory.Trader should wait for a pull back if they want to own the stock. Those already own the stock should start taking profit from here on. Rogers Communications Inc. is a company in the Telecommunication Services sector, it has a current market cap of 32.78B and its PE ratio is 32.69. Rogers Communications Inc. also pays a 2.98% dividend to shareholders annually. The stock’s 52 week high is at $66.32 and 52 week low is at $50.15.

Saputo Inc. moved the index higher today in the market, up $0.4 or 0.95%. SAP closed at a price of $42.51 after trading between $42.09 and $42.75. The volume is below average with 362,417 shares changed hands. Today’s closing figure is a rebound to the stock after yesterday’s sell off. SAP closed higher in 6 of the last 10 trading days. The trend for this stock is bullish. Investors should pay close attention to the stock when it trades around the short term support and resistant levels near $42.15 and $42.81 respectively. Saputo Inc. is a company in the Consumer Staples sector, it has a market capitalization of 16.42B and its price to earning ratio is 22.36. Saputo Inc. also pays a 1.51% dividend to shareholders on an annual basis. The stock’s 52 week high is at $48.98 and 52 week low is at $39.74.

Brookfield Asset Management Inc. traded up in the market today, up $0.29 or 0.62%. BAM.A closed the day at a price of $47.40 after trading between $47.08 and $47.52. The trading volume is below average with 632,654 shares changed hands. Today’s closing figure finally put an end to the stock’s 5 days losing streak. BAM.A closed higher in 3 of the last 10 trading days. The trend is bearish. Traders should watch the stock closely when it trades around the short term support and resistant levels near $46.89 and $47.77 respectively. Brookfield Asset Management Inc. is a company in the Financials sector, it has a current market capitalization of 46.55B and its PE ratio is 30.13. Brookfield Asset Management Inc. also pays a 1.48% dividend to shareholders annually. The stock’s 52 week high is at $53.08 and 52 week low is at $42.71.

Magna International Inc. fueled some of the TSX 60 gain in the market today, up $0.25 or 0.43%. MG closed the day at a price of $59.00 after flipping between $58.49 and $59.12. The trading volume is below average with 654,765 shares changed hands. The movement today finally put an end to the stock’s 3 days losing streak. MG gained in 4 of the last 10 trading sessions. In the short term, the trend for this stock is bearish. Traders should pay close attention to the stock when it trades around the support and resistant levels near $58.62 and $59.25 respectively. Magna International Inc. is a company in the Consumer Discretionary sector, it has a current market cap of 21.71B and its PE ratio is 8.71. Magna International Inc. also pays a 2.35% dividend to shareholders on an annual basis. The stock’s 52 week high is at $62.94 and 52 week low is at $49.44.

Power Corporation of Canada fueled some of the TSX 60 gain today in the market, up $0.12 or 0.41%. POW closed the day at a price of $29.74 after fluctuating between $29.53 and $29.79. The trading volume is average with 635,398 shares changed hands. Today’s movement finally put an end to the stock’s 3 days losing streak. POW ended the session positively in 5 of the last 10 trading sessions. In the short term, the trend is bearish. Traders should watch the stock closely when it trades around the short term support and resistant levels near $29.43 and $29.95 respectively. Power Corporation of Canada is a company in the Financials sector, it has a current market cap of 12.30B and its price to earning ratio is 10.11. Power Corporation of Canada also pays a 4.82% dividend to shareholders on an annual basis. The stock’s 52 week high is at $32.49 and 52 week low is at $26.80.

Blue Chip Stocks Lose Ground Today in the TSX 60

Teck Resources Limited is one of the top laggard today, down $1.6 or -5.36%. TCK.B closed at $28.23 after flipping between $27.80 and $29.43. The volume is above average, 1.22 times more than average with 3,010,000 shares exchanged. Today’s decline puts an end to the stock’s 2 days winning streak. TCK.B closed negatively in 4 of the last 10 trading days. The trend is bearish. Traders should watch the stock closely when it trades around the support and resistant levels near $26.86 and $30.12 respectively. Teck Resources Limited is a company in the Materials sector, it has a current market capitalization of 16.31B and its price to earning ratio is 7.83. Teck Resources Limited also pays a 0.71% dividend to shareholders on an annual basis. The stock’s 52 week high is at $35.67 and 52 week low is at $19.27.

Penn West Petroleum Ltd moved the index lower today, down $0.05 or -4.07%. PWT closed at a price of $1.18 per share after flipping between $1.18 and $1.22. The trading volume is unusually low, only 29 percent of its average volume with 179,340 shares exchanged. Today’s movement extends the stock’s drop from yesterday. PWT dropped in 4 of the last 10 trading sessions. In the short term, the trend for this stock is bearish. Traders should watch the stock closely when it trades between the support and resistant levels near $1.17 and $1.21 respectively. Penn West Petroleum Ltd is a company in the Energy sector, it has a current market cap of 604.63M 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.

First Quantum Minerals Limited took some points off the TSX 60 in the market today, down $0.55 or -3.84%. FM closed the day at $13.76 after trading between $13.44 and $13.91. The trading volume is average with 2,920,000 shares exchanged. Today’s decline adds to the stock’s 3 days losing streak. FM closed negatively in 6 of the last 10 trading days. The trend is bearish. Traders should pay attention to the stock when it trades around the short term support and resistant levels near $13.23 and $14.17 respectively. First Quantum Minerals Limited is a company in the Materials sector, it has a market capitalization of 9.32B and its PE 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 $9.69.

EnCana Corporation traded lower today in the market, down $0.42 or -3.61%. ECA ended the day at $11.20 per share after fluctuating between $11.11 and $11.58. The trading volume is below average, only 67 percent of its average volume with 2,490,000 shares exchanged. The movement today extends the stock’s loss from yesterday. ECA ended the session negatively in 5 of the last 10 trading days. The trend for this stock is bearish. Investors should watch the stock closely when it trades nearly the short term support and resistant levels near $11.01 and $11.48 respectively. Based on the stock price within the past 52 weeks, it is trading within oversold territory. Long term investors with patience could buy into the stock around this level. However, be careful there is a chance that it could move lower. EnCana Corporation is a company in the Energy sector, it has a market cap of 10.99B and its price to earning ratio is 10.61. EnCana Corporation also pays a 0.67% dividend to shareholders annually. The stock’s 52 week high is at $18.13 and 52 week low is at $10.54.

Cenovus Energy Inc traded lower today in the market, down $0.32 or -3.15%. CVE closed at $9.85 per share after trading between $9.85 and $10.15. The volume is below average, only 56 percent of its average volume with 1,740,000 shares exchanged. Today’s movement extends the stock’s decline from yesterday. CVE closed negatively in 4 of the last 10 trading sessions. Technical indicators for this stock is bullish. Investors should pay close attention to the stock when it trades nearly the short term support and resistant levels near $9.75 and $10.05 respectively. Looking at the stock price within the past 52 weeks, analysis shows 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. Cenovus Energy Inc is a company in the Energy sector, it has a current market cap of 12.11B and its price to earning ratio is 4.23. Cenovus Energy Inc also pays a 2.03% dividend to shareholders annually. The stock’s 52 week high is at $22.06 and 52 week low is at $8.89.

IAMGOLD Corporation moved the index lower in the market today, down $0.21 or -2.41%. IMG closed the day at $8.52 per share after fluctuating between $8.40 and $8.77. The trading volume is above average, 1.44 times more than average with 2,460,000 shares exchanged. Today’s closing figure is a sell off to the stock after yesterday’s uptick. IMG closed negatively in 2 of the last 10 trading days. In the short term, the trend is bullish. Investors should watch the stock closely when it trades between the support and resistant levels near $8.19 and $8.93 respectively. Looking at the stock performance within the last 12 months, the stock is trading within an overbought territory.Trader should wait for a pull back if they want to own the stock. Those already own the stock should start taking profit from here on. IAMGOLD Corporation is a company in the Materials sector, it has a current market capitalization of 3.86B and its price to earning ratio is 6.53. The stock’s 52 week high is at $8.87 and 52 week low is at $4.18.

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