Best Canadian Stocks: 3.32% Average Return in 7 Days

Best Canadian Stocks

The Canadian Stock Forecast is part of the “Canadian Stocks” package, as one of I Know First’s algorithmic trading tools. The full forecast includes a daily predictions for a total of 20 stocks with bullish and bearish signals:

  • Top ten Canadian stocks picks to long
  • Top ten Canadian stocks picks to short

Package Name: Canadian Stocks
Recommended Positions: Long
Forecast Length: 7 Days (7/28/15 – 8/04/15)
I Know First Average: 3.32%

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Best Canadian Stocks

I Know First’s seven-day forecast from the Canadian Stocks Package had very encouraging results, with all 10 stocks increasing in accordance with the stock market Algorithm prediction. Canadian National Resources (CNQ) performed exceptionally well, returning 5.70% to investors during the seven-month time horizon as the algorithm indicated. Both the National Bank of Canada (NA.TO) and Imperial Oil (IMO) were also included in the top 10 picks of the Canadian stock forecast and had strong returns of 4.64% and 4.51%  respectively. The average return of 3.32% during the forecasted time horizon easily outperformed the S&P 500 average return of 1.24% during the same time.

The National Bank of Canada received an “A” credit rating from Morning Star on August 3rd, signalling a low risk of bank default. This comes in the way of great second quarterly results which show that the National Bank has a large and increasing cash and marketable securities pool. Additionally, the Royal Bank of Canada and the Imperial Bank of Canada rose their target prices for NA.TO up a dollar each to $55 and $56 respectively. National Bank paid out their relatively large dividend this week at an annualized rate of 4.55%

Algorithmic traders utilize these daily forecasts by the I Know First market prediction system as a tool to enhance portfolio performance, verify their own analysis and act on market opportunities faster. This forecast was sent to current I Know First algorithmic traders.

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Please note-for trading decisions use the most recent forecast. Get today’s forecast and Top stock picks.