The TSX 60 index is consolidating in a narrow band between 700 and 715. Upward breakout is likely and would signal a primary up-trend. Recovery of 63-day Twiggs Momentum above zero would strengthen the signal. Target for the initial advance is 790.
* Target calculation: 720 + ( 720 – 650 ) = 790
A screen of stocks with low Momentum but high buying pressure, as indicated by 21-day Twiggs Money Flow, reveals a list of 93 potential breakouts (after filtering out stocks with daily Value/Turnover traded of less than $1 million). Husky Energy [HSE], Crew Energy [CR] and Bank of Nova Scotia [BNS] are three that look interesting.
Thanks for the analysis and the picks.
Is there a public access to the scan you used, and what name did you give it?
H
TMX Potential Breakouts are #48895 on the Shared tab.