Friday, June 02, 2006

Fortis utility

Rising volatility is factoring into sector moves. The Volatility Index (VIX) is now up over 25% in the last 13-weeks. Some investors may see this as a sign to move to defensive stocks. One TSX utility stock that is building price momentum is Fortis Inc. (TSX:FTS). It advanced 11% this week and has shifted to our Weak Bearish trend category. Current 13-week Stock Trends RSI is 108, ranking it highest among TSX utility stocks. Unusually high volume punctuated this week's move.
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