The chart of Goeasy (GSY.TO) has fallen both from an absolute and relative perspective, as highlighted in the attached SIA matrix position chart. Shares have now fallen back into the unfavored zone of the SIA Combined Canadian Dividend Report, now positioned at spot #105 on this influential report, with its shares down 15.45% YTD. The magnitude of this decline is highlighted in the attached point-and-figure chart, where the SIA overlay tool is engaged and color coding is applied to the X and O marks. Here, we find that shares of GSY.TO are moving through initial support at $152.48 and nearing new support at $140.87. Beyond this, there is another range of support between $130.14 and $125.09, with major support on trend at $98.63, which is consistent with the psychological whole number $100.
This slippage through support is also visible on the attached candlestick chart, circled in red. On the candlestick chart, support is also visible at the $130 level, with further support at the $85 level. Meanwhile, Goeasy carries a very negative SMAX score of 0 out of 10, which further underscores its lack of relative strength in the market. The SMAX score is used as a near-term indicator, comparing an asset against various asset classes.
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