11:56:16 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 212,591,163
Close 2014-08-21 C$ 124.18
Market Cap C$ 26,399,570,621
Recent Sedar Documents

Globe says Shaw, others have long-term upside potential

2014-08-22 06:34 ET - In the News

See In the News (C-SJR) Shaw Communications Inc

The Globe and Mail attempts to identify consumer discretionary stocks with long-term upside potential in it Friday edition. Guest columnists Ron Meisels and Monica Rizk write in The Globe's Number Cruncher column that they only considered stocks on the the S&P/TSX 60 Index. To find the most promising, they looked at each stock's 40-week moving average (40wMA), the average closing price for the stock over a period of 40 weeks. When stocks move above this average, investors often take profits, since this usually leads to a price correction toward the 40wMA. When stocks decline below this average, investors might bet on a recovery rally. Magna International ($124.18) and Tim Hortons ($66.91) are trading significantly above their 40wMA, and therefore a minor price correction may occur. At the same time, Shaw Communications ($27.41) is closest to its average, suggesting it is currently at a favourable entry level. Canadian Tire ($183) and Thomson Reuters ($41.24) recently completed a corrective move and have started a new upleg. Gildan Activewear ($63.20) is in the midst of a minor correction toward its average and therefore a better entry point should appear at a slightly lower level.

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