Elliott Fishman, director of U.S. and international equity trading at Scotia Wealth
Focus: Technical analysis


MARKET OUTLOOK

TSX: All-time highs and going higher. If gold and energy go up from here, we could be dealing with huge upside ahead.

Dow and S&P: With a low interest rates and four more years of Trump, there’s nothing but upside from now.

TOP PICKS

Elliott Fishman's Top Picks

Elliott Fishman of Scotia Wealth shares his top picks: Square, Enbridge and Bed Bath & Beyond.

SQUARE INC (SQ NYSE)

Better than normal volumes for Square. The stock just jumped over its 50-week moving average of US$68.30. Next stop is a test of US$80. Great support at US$67. The stock is currently trading at US$69.

ENBRIDGE (ENB TSX)

There was a very impressive pop through old resistance levels (the 200-week moving average of $49.30). Looks poised to test $60. $48 will be support as it was resistance.

BED BATH & BEYOND (BBBY NASD)

The stock recently imploded from $20. It now has a new CEO to deal with the mess. The stock saw recent upside on big volumes through its short-term resistance levels of $13.50 and $15 (50- and 100-week moving averages respectively). This stock is a straight flyer, a turnaround story and an over-sold play. I wouldn’t use eating money on this, but if you’re trying to catch a rare wave of upward momentum, here you go. 200-week moving average is $25.50, so there’s still upside from here.

 

DISCLOSURE PERSONAL FAMILY PORTFOLIO/FUND
SQ N N N
ENB N N N
BBBY N N N

 

PAST PICKS: NOV. 19, 2019

Elliott Fishman's Past Picks

Elliott Fishman of Scotia Wealth reviews his past picks: Scotiabank, MGM Resorts and Johnson & Johnson.

SCOTIABANK (BNS TSX)

  • Then: $76.50
  • Now: $72.63
  • Return: -5%
  • Total return: -4%

MGM RESORTS INTERNATIONAL (MGM NYSE)

  • Then: $31.81
  • Now: $32.39
  • Return: 2%
  • Total return: 2%

JOHNSON & JOHNSON (JNJ NYSE)

  • Then: $134.82
  • Now: $149.27
  • Return: 11%
  • Total return: 11%

Total return average: 3%

 

DISCLOSURE PERSONAL FAMILY PORTFOLIO/FUND
BNS N N N
MGM N N N
JNJ N N N