The Canadian Technician

Canadian Grocers Continue To Supply Portfolio Food


The Canadian Grocers have some of the strongest SCTR rankings in Canada right now. A quick run through the charts show us some pretty interesting stuff.

Here is George Weston (WN.TO). The SCTR is soaring and the two-year consolidation appears to be well behind it.

Here is Metro. (MRU.TO). Metro had a stunningly good chart in place until July 2016. After a 9-month correction, Metro looks to be on the move again. 

Loblaws (L.TO) continues to work. This breakout from a 2-year consolidation is great!

Empire EMP/A.TO. Canadian brands include Sobeys and Safeway. After the Safeway purchase, the stock had been in a downtrending move which cut the stock price in half. With a new CEO, the stock has been rebounding.

Here is North West Co. Ltd. (NWC.TO). They have brands like Giant Tiger, Northern, North Mart.

I particularly like when a whole industry segment is moving. All of these companies (5 of 5 in the industry group) have SCTR rankings above 75. These charts look good. I do own a company in the list above just for full disclosure.

Good trading,
Greg Schnell, CMT, MFTA.

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is also the author of Stock Charts for Dummies (Wiley, 2018). Learn More
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