The list of positive breakouts is growing as the equity market continue to climb higher with strength spreading to mid and small-cap stocks.
Among the list of positive breakouts are some favorites on the Street such as Absolute Software, AGT Food & Ingredients and Parex Resources.
According to Bloomberg, there are seven buy recommendations for Absolute Software with the average one-year price target of $9.96, implying a potential double-digit gain.
With respect to AGT, there are six buy recommendations, one hold recommendation, and one sell recommendation with the average one-year price target of $35.61, also implying a double-digit potential return.
Shares of oil and gas company, Parex Resources, one of the top performers in the S&P/TSX composite index year-to-date, jumped 13 per cent on Tuesday after management provided solid production guidance. Management anticipates production will average 30,200 barrels of oil per day (boe/d) in 2016, up 10 per cent from the company's expected 2015 average production rate of approximately 27,400 boe/d.
There are 11 buy recommendations and three hold recommendations with the average one-year price target of $12.48.
Below is a list of stocks in the S&P/TSX composite index and the S&P/TSX Small Cap index that are technically breaking out, reaching new 55-day highs or lows based on Tuesday's close.
Price Breakouts | |
---|---|
30 Positive Breakouts | |
Ticker | Company |
ABT | Absolute Software Corp |
AGT | AGT Food & Ingredients Inc |
BB | BlackBerry Ltd |
CAE | CAE Inc |
CNE | Canacol Energy Ltd |
COS | Canadian Oil Sands Ltd |
CJ | Cardinal Energy Ltd |
GIB/A | CGI Group Inc |
ECI | EnerCare Inc |
FN | First National Financial Corp |
GSY | goeasy Ltd |
GXO | Granite Oil Corp |
GWO | Great-West Lifeco Inc |
HWO | High Arctic Energy Services Inc |
IT | Intertain Group Ltd. |
LNR | Linamar Corp |
LMP | Lumenpulse Inc |
MDA | MacDonald Dettwiler & Associates Ltd |
MAL | Magellan Aerospace Corp |
MRG-U | Morguard North American Residential Real |
NBD | Norbord Inc |
NBZ | Northern Blizzard Resources Inc |
PXT | Parex Resources Inc |
PWT | Penn West Petroleum Ltd |
PLI | ProMetic Life Sciences Inc |
QBR/B | Quebecor Inc |
RRX | Raging River Exploration Inc |
SCC | Sears Canada Inc |
SOX | Stuart Olson Inc |
SU | Suncor Energy Inc |
11 Negative Breakouts | |
BEP-U | Brookfield Renewable Energy Partners LP/ |
CF | Canaccord Genuity Group Inc |
CAR-U | Canadian Apartment Properties REIT |
CUF-U | Cominar Real Estate Investment Trust |
CNL | Continental Gold Inc |
BCB | Cott Corp |
DPM | Dundee Precious Metals Inc |
GMP | GMP Capital Inc |
GUY | Guyana Goldfields Inc |
XSR | Sirius XM Canada Holdings Inc |
SPB | Superior Plus Corp |