SIA Charts’ relative strength rankings help investors identify opportunities in stocks which are outperforming their peers or index benchmarks on a relative basis. Outperformance often reflects improving investor expectations for strong company growth or sector growth. The rankings not only help investors to identify which stocks in a universe are outperforming and underperforming against their peers, but also when relative performance trends are changing.
In today’s edition of the Daily Stock Report, we are going to take a look at a Canadian Energy name, Tamarack Valley Energy Ltd (TVE.TO). TVE recently entered the Favored Zone of the SIA S&P/TSX Capped Composite Index report on June 18th, 2025, at a price of $4.98. The shares are showing strong relative strength moves up the SIA S&P/TSX Capped Composite report gaining 4 spots in the last week and 11 spots in the last quarter exemplify the consistent money flow increases in the shares over the past little while. Currently the shares reside in the 46th spot out of 212 positions in the report at yesterday’s closing price of $5.91 representing an increase of 18.6% in only 3 months time.
In looking at the attached long term weekly candlestick chart of Tamarack Valley Energy, the shares have made a new 5 year high when the shares broke above the $5.75 price area. We also see the shares find a strong layer of support at the $2.75 area where it held twice in June 2023 and early 2024. Then in early 2024 the uptrend asserted itself with a steady pattern of higher highs and higher lows ultimately reaching its peak in January of this year at $5.00. A brief but rather sizeable pullback ensued in the first quarter of this year when the markets had its “jitters” but since the market stabilization in April the shares have regained traction and surpassed the early January high and have also surpassed the 5 year high at the $5.75 level. In closer analysis of the chart the shares look poised to reach its all time high in the $6.75 to $7.00 area. It will be interesting to see going forward, its this breakout can materialize further and the new upleg can reach these all-time highs which are quickly approaching.
The benefit of looking at Point and Figure Charts is you can see more precisely upcoming support and resistance points. In looking at the Point and Figure chart at a 3% scale for a long term secular investment grade analysis, we see the shares have indeed surpassed the early year high at the prior resistance level of $4.94. As well, the shares have also broken above the $5.72 level which is a new 5-year high. The shares now look to challenge its all-time high which is at $6.84. If the shares manage to break above that level, they will enter new discovery territory. To the downside, support is at its 3 box reversal of $5.24 and, below that, $4.79. The shares currently exhibit a bullish Spread Double Top pattern and with an SMAX score of 9 out of 10, Tamarack Valley is exhibiting very strong near term strength against the asset classes.
Tamarack Valley Energy Ltd is engaged in the exploration, development, and production of oil and natural gas. Its target is drilling and acquisition of repeatable and predictable long-life resource plays in the Western Canadian Sedimentary Basin. Its oil & gas properties include Cardium Oil, Viking Oil, and Penny Barons Oil.
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