Aug 21, 2018
Javed Mirza's Top Picks: Aug. 21, 2018
Javed Mirza, technical analyst at Canaccord Genuity
Focus: Technical analysis
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MARKET OUTLOOK
Our longer-term view is that we’re in a secular bull market in equities with upside, by time, into the mid-2020s.
Our intermediate-term outlook remains constructive, but a close below the 50-day moving averages on the S&P 500 and Dow Jones Industrials would confirm a new short-term corrective phase is developing.
A close below the 200-day moving average on the S&P and Dow Jones would be a strong technical negative and suggest an intermediate-term top was in place.
TOP PICKS
CONSTELLATION SOFTWARE (CSU.TO)
Purchased on Jan. 27 at $1,105.01.
TD BANK (TD.TO)
Purchased on Jan. 27 at $76.14.
CGI GROUP (GIBa.TO)
Purchased on Jan. 27 at $86.52.
These three stocks all have strong technical profiles, with the following three technical positives in their favor:
- Price momentum trending higher.
- Relative strength trending higher versus the TSX Composite.
- On-balance-volume showing buying pressure.
In addition, they’ve had strong quantitative rankings when we added them to our Canadian Focused Equity Portfolio in late January.
DISCLOSURE | PERSONAL | FAMILY | PORTFOLIO/FUND |
---|---|---|---|
CSU | N | N | Y |
TD | N | N | Y |
GIBa | N | N | Y |
FUND PROFILE
Canadian Focused Equity Portfolio
Performance as of: July 2018
- Inception: 6.5% fund, 3.4% S&P/TSX Composite
* Inception date: Jan. 25, 2018.
* Fund’s returns are based on reinvested dividends.
TOP 5 HOLDINGS AND WEIGHTINGS
- Royal Bank: 8%
- TD Bank: 7%
- Suncor: 6%
- Husky Energy: 4%
- CIBC: 4%
TWITTER: @CanaccorGenuity
WEBSITE: www.canaccordgenuity.com