Commodity Stocks Try To Bounce - Canadian Market Review

Jun 12 19:06 2019 Print This Article

After the Canadian market drifted lower through the month of May, the first few days of June have seen a bounce. As the G20 finance people meet in Japan, with promises for more QE and Fed chairman Jay Powell offering up potential rate cuts as the market sits within a few percent of the all time highs, the markets have tried to avoid pricing in the ramifications from slower trade globally.

The Canadian market couldn't be more muted in the three big sectors, Financials, Energy and Materials. However, within Technology, Shopify (SHOP.TO) has soared in the 6 months since the December low. The software company has made a price surge up 150% and investors are clamoring to buy the small company, pushing the stock price higher.

The chart looks beautiful. SHOP.TO has been the number one stock in Canada consistently this year. 

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StockCharts.com was founded in 1999 by Chip Anderson, a 10-year veteran of Microsoft. StockCharts.com is a website that provides online investors with high-quality financial charts for making better investing decisions. StockCharts.com is focused on Technical Analysis - the study of price history via charts. They provide award-winning analysis tools, market commentary from respected analysts like John Murphy and Martin Pring, and a huge collection of educational resources that can help anyone become a better, more informed investor.

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