| TD.TO | 73.20 | +0.52 | +0.72% |
Toronto Dominion Bank (TSX:TD)
Chart:
The three month chart suggests there's a bit of room for growth on the current share price of $73.20, to the tune of $1.70 on the conservative side, and $2.50 on the liberal end (or 2.3% - 3.3% gain). Based on trend, it looks like it'll take about three weeks for that to happen. I'm a little hesitant on this one, though, given the previous high was below the previous resistance level, and the current low was below the previous support level. To me, the longer term (3-month) trend of this share price is down to test previous support around $69.00.
3-Month Chart
Chart:
The three month chart suggests there's a bit of room for growth on the current share price of $73.20, to the tune of $1.70 on the conservative side, and $2.50 on the liberal end (or 2.3% - 3.3% gain). Based on trend, it looks like it'll take about three weeks for that to happen. I'm a little hesitant on this one, though, given the previous high was below the previous resistance level, and the current low was below the previous support level. To me, the longer term (3-month) trend of this share price is down to test previous support around $69.00.
3-Month Chart
In the News:
Half of Hamilton-Niagara residents spend 25% more than planned for holiday purchases
In the Industry:
Bank shares a popular sell for retail traders
PerformanceIINDUSTRIES IN THE FINANCIALS SECTOR
BROAD GLOBAL MARKET UNITED STATES INDEX
| Performance | ||||||
| Industry | 1 Month | 3 Month | YTD | Price per Earnings (TTM) | Price to Sales (TTM) | Dividend Yield |
| Financials 558 Companies | +3.80% | +7.47% | +4.78% | 23.0x | 2.0x | 1.45% |
| Real Estate 122 Companies | -0.69% | +8.75% | +19.75% | -4,567.8x | 5.1x | 3.25% |
| Insurance 107 Companies | -0.36% | +7.91% | +12.88% | 12.2x | 0.9x | 1.37% |
| Diversified Financials 118 Companies | +6.37% | +7.59% | -3.61% | 23.2x | 2.6x | 0.84% |
| Banks 211 Companies | +7.81% | +5.86% | +4.69% | 33.4x | 4.5x | 1.33% |
http://investing.businessweek.com/research/sectorandindustry/sectors/sectordetail.asp?code=40®ion=US
The performance of the US financial sector may or may not be a leading indicator of what is to come in the Canadian sector. The US financials may be inflated by Ben Bernanke's plan to buy $600 billion more in Treasury bonds,http://in.reuters.com/article/idINLDE6AE1D420101115
If we overlay JP Morgan Chase (major US Bank) with TD, it looks like the two tickers were relatively closely correlated. However, there was an anomaly in the trend from Oct.12 - Nov.3, most likely in anticipation of the US Fed announcement on quantitative easing decision.
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