TSX 60: CVE.TO, FTS.TO in the Spotlight Today (Sep-12-2017)

Blue Chip Stocks Gained in the TSX 60 Today

Cenovus Energy Inc traded positively today in the market, up $0.42 or 4.15%. CVE ended the day at $10.55 after flipping between $10.12 and $10.58. The volume is unusually high, 1.75 times more than average with 4,920,000 shares changed hands. The movement today extends the stock’s gain from yesterday. CVE gained in 7 of the last 10 trading days. In the short term, the trend is bullish. Traders should pay attention to the stock when it trades around the short term support and resistant levels near $9.96 and $10.88 respectively. Looking at the stock performance within the past year, the stock is slightly oversold. The stock could go both up or down from the current price. It could move lower and then a rebound in the next few months. Cenovus Energy Inc is a company in the Energy sector, it has a current market cap of 12.96B and its price to earning ratio is 4.53. Cenovus Energy Inc also pays a 1.90% dividend to shareholders annually. The stock’s 52 week high is at $22.06 and 52 week low is at $8.89.

ARC Resources Ltd traded up today, up $0.52 or 3.15%. ARX closed the day at $17.04 per share after trading between $16.53 and $17.09. The volume is above average, 1.35 times more than average with 1,220,000 shares changed hands. Today’s movement extends the stock’s gain from yesterday. ARX ended the session positively in 5 of the last 10 trading days. Short term technical indicators is bullish. Traders should watch the stock when it trades around the short term support and resistant levels near $16.33 and $17.45 respectively. Based on the stock price within the past year, 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. ARC Resources Ltd is a company in the Energy sector, it has a market capitalization of 6.03B and its price to earning ratio is 13.05. ARC Resources Ltd also pays a 3.52% dividend to shareholders annually. The stock’s 52 week high is at $24.94 and 52 week low is at $15.61.

Eldorado Gold Corporation helped the TSX 60 gain ground in the market today, up $0.07 or 2.99%. ELD closed at $2.41 after flipping between $2.28 and $2.44. The trading volume is average with 2,150,000 shares exchanged. Today’s gain finally put an end to the stock’s 2 days losing streak. ELD ended the session positively in 4 of the last 10 trading sessions. Short term technical indicators is bearish. Investors should watch the stock when it trades around the support and resistant levels near $2.22 and $2.54 respectively. From the stock performance over the past one year, analysis shows the stock is extremely oversold at this price range. Long term investors may want to buy into the stock at this price and wait for it to rebound in the coming months. However, be caution 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. Eldorado Gold Corporation is a company in the Materials sector, it has a current market cap of 1.91B and its price to earning ratio is 122.34. The stock’s 52 week high is at $5.63 and 52 week low is at $2.24.

Penn West Petroleum Ltd traded higher in the market today, up $0.03 or 2.50%. PWT closed at a price of $1.23 after flipping between $1.17 and $1.25. The volume is unusually low, only 46 percent of its average volume with 257,440 shares changed hands. Today’s movement extends the stock’s gain from yesterday. PWT closed positively in 5 of the last 10 trading days. Short term technical indicators for this stock is slightly bullish. Traders should watch the stock when it trades around the short term support and resistant levels near $1.18 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.

Blue Chip Stocks Lose Ground Today in the TSX 60

Fortis Incorporated is one of the top laggard in the market today, down $0.45 or -0.99%. FTS closed the day at a price of $45.01 after fluctuating between $44.99 and $45.54. The trading volume is average with 625,045 shares changed hands. Today’s movement extends the stock’s loss from yesterday. FTS declined in 7 of the last 10 trading sessions. Short term technical indicators is bearish. Investors should watch the stock when it trades around the support and resistant levels near $44.63 and $45.73 respectively. Fortis Incorporated is a company in the Utilities sector, it has a current market cap of 18.81B and its PE ratio is 19.85. Fortis Incorporated also pays a 3.55% dividend to shareholders on an annual basis. The stock’s 52 week high is at $47.06 and 52 week low is at $39.58.

Gildan Activewear Inc. took some points off the TSX 60 today, down $0.11 or -0.29%. GIL ended the day at $38.17 per share after fluctuating between $37.98 and $38.53. The volume is average with 472,368 shares changed hands. Today’s movement is a sell off to the stock after yesterday’s gain. GIL closed lower in 5 of the last 10 trading sessions. The trend is bearish. Traders should pay close attention to the stock when it trades nearly the short term support and resistant levels near $37.68 and $38.78 respectively. Gildan Activewear Inc. is a company in the Consumer Discretionary sector, it has a market cap of 8.57B and its price to earning ratio is 19.09. Gildan Activewear Inc. also pays a 1.25% dividend to shareholders on an annual basis. The stock’s 52 week high is at $42.18 and 52 week low is at $30.97.

Teck Resources Limited traded negatively in the market today, down $0.07 or -0.25%. TCK.B closed the market at a price of $28.25 after fluctuating between $27.83 and $28.50. The trading volume is average with 2,330,000 shares exchanged. Today’s movement is a sell off to the stock after yesterday’s uptick. TCK.B closed lower in 4 of the last 10 trading days. In the short term, the trend is bearish. Traders should watch the stock closely when it trades between the short term support and resistant levels near $27.52 and $28.86 respectively. Teck Resources Limited is a company in the Materials sector, it has a current market cap of 16.32B and its PE ratio is 7.84. Teck Resources Limited also pays a 0.71% dividend to shareholders annually. The stock’s 52 week high is at $35.67 and 52 week low is at $19.27.

Loblaw Companies Limited traded negatively today in the market, down $0.12 or -0.18%. L closed at a price of $65.33 per share after fluctuating between $65.05 and $65.75. The trading volume is average with 533,653 shares changed hands. The movement today is a sell off after yesterday’s gain. L dropped in 5 of the last 10 trading days. The trend for this stock is slightly bullish. Investors should pay attention to the stock when it trades around the support and resistant levels near $65 and $65.7 respectively. From the stock price within the past year, analysis shows the stock is slightly oversold. The stock could go both up or down from here. It could stay in oversold territory for a while and then a rebound 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 price to earning 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.

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