This strategy focuses on identifying bullish technical patterns that hint at potential breakouts above key price resistance levels. By zeroing in on stocks near their 52-week highs, the strategy seeks to select Canadian equities that are already showing strong price performance, which enhances the chances of continued upward movement. Investors using this approach enter positions once the price breaks out of the patterns, and the investors aim to ride the trend as long as it persists.
Lastly, we screened for Canadian stocks with a Trading Central Quantamental rating of 55 or higher, focusing on growth and momentum factors. The growth factor considers year-over-year changes in the price-to-earnings ratio , and growth in earnings per share and revenue. The momentum factor reflects the tendency of strongly-performing stocks to continue their success in the near term.
Trading Central Strategy Builder offers a back-testing feature that allows users to assess the historical performance of an investment strategy. Utilizing a five-year historical period with quarterly rebalancing, the described screen had a 27 per cent annualized total return, outperforming the S&P/TSX Composite Index, which achieved an 8 per cent annualized total return over the same period.
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