S&P/TSX Composite in

0000
Delayed Toronto Stock Exchange - 11/11 10:20:01 pm
16882.83CAD
+0.03%

Sectoral trade-offs are severe

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10/24/2019 | 08:49 am
Opinion : Check out the trading range breakout 16000 / 16900 
The major Canadian index, which currently includes 233 companies, has undergone a major consolidation phase since the end of the first quarter. More sensitive to price changes in raw materials or hemp than to the turmoil of the trade dispute, the Toronto TSX maintains a qualitative performance over 2019, with a 14% increase thanks in part to the exposure of certain mini specialties in the above-mentioned rates. If we focus on the last quarter, the arbitrations show new themes, such as banking services. Equitable Group has indeed gained 36% over the last three months, as well as green energy with battery designer Ballard Power Systems (30%). On the other hand, bad weather for cannabis, which sees its societies (Canopy, Cronos, Aurora) shrinking sharply between 35 and 40% each, over the same reference period. Graphically, in daily data, prices form oscillations between two distinct bounds. In the upper part, the 16,900 points resulted in a price rejection towards the 16330 points. On the lower part of the configuration, the 16,000 point support has recently been effectively tested three times. Neutrality is therefore necessary between these two limits. Only the crossing of this lateral trend would set a more assertive directional direction.
Patrick Rejaunier
Zonebourse.com 2019
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