Canadian stocks with strong technical momentum

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Chartoftheday Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

We are looking for attractive Canadian-listed equities from a trend-following and quantitative perspective

This strategy seeks to detect established bullish patterns, such as triangles, flags, or head and shoulders formations, that signal potential breakouts above resistance levels. By targeting stocks near their 52-week highs, the strategy aims to select Canadian stocks that are already exhibiting strong price performance, increasing the likelihood of sustained upward trends.

Trading near a 52-week high often implies strong technical indicators, such as higher trading volumes and favourable chart patterns, which are critical in a trend-following strategy. We screened for stocks that have confirmed bullish classic technical patterns. Incorporating a stop-loss is crucial when using trend-following strategies. A stop-loss order automatically initiates a sell order if the position moves against the anticipated trend, thereby limiting potential losses and protecting capital.

 

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Belgique Dernières Nouvelles, Belgique Actualités