Saturday, April 04, 2009

Signs of spring - RONA, Canadian Tire, Home Depot, Lowes

Investors can be encouraged by the movement of home improvement retail stocks. A key to economic recovery is the housing sector, and certainly the performance of stocks like Home Depot (NYSE:HD) and Lowes Cos. (NYSE:LOW) reflects the sentiment that consumers have regarding their primary assets. Both HD and LOW have rallied nicely off their March bottom along with the rest of the market. They are Stock Trends Weak Bearish and now serve investors a key trigger for a bullish trade as they challenge overhead resistance. Should these stocks advance through resistance in the coming weeks look for a continued rally in these important retail stocks.

Canadians can also look to Canadian Tire (TSX:CTC.A) and RONA Inc. (TSX:RON), also Stock Trends Weak Bearish. RON is a current Stock Trends Picks of the Week.

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