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Canada Stocks Close Up at All-time High; Blackberry Rings Up Gains and Soars


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The TSX twice - early morning and again in the afternoon - hit near 6-year intra-day highs at close to the 15,120 level on Thursday, and eventually closed again at a new all-time high. The all-time intraday high was made back in June 2008 at 15,154.77.

Most sectors are lower, but Info Tech - largely due to a 9.3% increase in shares of Blackberry (BB.TO), after the company announced a smaller than expected loss - and Metals & Mining - as gold prices surge - are bucking the trend.

Of commodities, gold rose above US$1,300 an ounce and silver rose the most in four months

Blackberry gapped higher on the open, creating a breakaway gap. A breakaway gap occurs when the price of a stock is breaking out of a consolidation trading range or congestion area. A congestion area is just a price range in which the market has traded for some period.

The RSI (relative strength index) on Blackberry shares moved higher with price action reflecting accelerating positive momentum. The current reading of 76, is above the overbought trigger level of 70 and could foreshadow a correction.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing , Commodities


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