Tuesday, January 06, 2009
Among the best performing big cap TSX stocks in the final quarter of 2008 was SNC-Lavalin Group (TSX:SNC). Its strong 13-week price momentum shows the market's interest in this global engineering firm's prospects - not surprising since infrastructure spending is the big element in governments' recession fighting arsenal. Trading volume in SNC should build over the coming weeks, a required element if the stock is going to move past the price resistance at the $40 level. A quick move to $45 will bring SNC further into our spotlight. It hit the Stock Trends Weak Bearish category on December 12, and bas been battling with resistance since. Improved broad market conditions should help.