Javed Mirza's Top Picks for October 17, 2024 [BNN Bloomberg (Canada)]
West Fraser Timber Co. Ltd Common stock (WFG)
Company Research
Source: BNN Bloomberg
MARKET OUTLOOK: A new short-term (two to four week) rally phase is taking hold within the ongoing intermediate equity market rally phase that should have upside by the time of the U.S. election in early-mid November. The next upside technical targets arenear 6,000 on the S&P 500 Index, 26,000 on the S&P/TSX Composite, 22,500 on the Nasdaq 100, and 250 on the Russell 2000. New weekly “mechanical buy” signals are in place on most North American equity indices and are consistent with a new intermediate-term (three to six months) equity market rally phase taking hold. Our longer-term technical work suggests that the recent intermediate-term equity market corrective phase from August to September likely marked the transition from phase two to phase three of the Market Cycle Model. In our view, a move by WTI Crude above important resistance near 94 would confirm that equity markets had entered phase three of the Market Cycle Model. Our longer-term cycle work indicates that a four-yea
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WFG
News
- West Fraser Timber Co. Ltd. (TSE:WFG) is largely controlled by institutional shareholders who own 45% of the company [Yahoo! Finance]Yahoo! Finance
- West Fraser Declares DividendPR Newswire
- Prolonged softwood lumber dispute points to what Trump's tariffs may mean for Canada [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- What Canadian markets – and investors – made of Trump re-election [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- US Lumber Industry Set to End Canada's Dominance as Tariffs Take Toll [Yahoo! Finance Canada]Yahoo! Finance Canada
WFG
Sec Filings
- 12/11/24 - Form 6-K
- 10/23/24 - Form 6-K
- 10/4/24 - Form 6-K
- WFG's page on the SEC website