My outlook for stocks on the Toronto Stock Exchange for Tuesday was for stocks to move sideways and slightly higher.
The TSX opened higher and pushed to 15,506.09 but then gave the rally back in the afternoon to close at 15,445.22 up just 1.33 on the day.
The give back of the entire rally shows the extent the market direction up is overbought. But that is changing as we can see in the technical outlook this evening.
In other news Westjet Stock was up $1.33 or 4.85% to $28.75 as profits and revenue beat analysts estimates by a wide margin. George Weston Stock meanwhile was up 1.32% on its earnings which showed sales growth of 36% to $10.5 billion although if Shoppers Drug Mart was excluded sales were up just 2.5%. Adjusted operating income increased by $200 million to $589 million but again if Shoppers Drug Mart is excluded operating income declined 4.9%.
Talisman Energy Stock was up 21 cents despite posting a loss of $237 million as investors await further news of a possible buyout of the ailing company by Repsol.
The rest of this article is for members only.
TSX Market Direction Outlook for July 30 2014
FullyInformed Canada Members can can login directly through this link to read the market direction outlook for the Toronto Stock Exchange for July 30 2014 or members can sign in to the full Canada members site here. Investors can join FullyInformed’s Canada section or read about the benefits of being a member through this link.
Internal Stock and Option Trades Links
Put Selling Strategies For Members
Covered Calls Strategies For Members
Profit And Income Strategies Index
Stock and Option Strategies For Members
Stock And Option Trades Explained For Members