Fortis stock is the largest gas and electric distributor in Canada serving 2 million customers in 5 provinces within Canada, as well as in Belize and in Upper New York State. Fortis stock is being dropped by a variety of investors including a number of institutional or pension funds. You can tell by the volume and the push lower. Utility stocks tend to trade within tight ranges. Fortis Stock had a nice run-up since November but that appears to be over.
Fortis Stock Earnings Disappoint
The companies latest earnings disappointed to the downside with earnings of .45 cents Canadian. Fortis Stock trades on the Toronto Stock Exchange (TSX) under the symbol FTS. Fortis Stock has been in my retirement portfolio for literally decades. The problem in Canada though is in the option market is small on many Canadian stocks and regulation only allows trading of covered calls against stocks and not Put Selling which would be the favored method of investing in Canadian Stocks within my retirement portfolio.
Fortis Stock Drop
The drop in the stock has been swift and sharp. All the technical indicators are now extremely oversold on Fortis Stock.
Fortis Stock Trade Analysis
You can see the potential within Fortis Stock. This Canadian company is a leader……………