TSX Shifts: Loblaw, CCL, Teck See Momentum Turn
Loblaw's Altra Score plunged to Bearish, while CCL dipped to Neutral. Teck Resources, however, just flipped strongly Bullish.
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- Sector XST , which ranks #3 for Relative Strength (Altra Sector score of 71.0 with bearish regime.)
The TSX market, currently reflecting a “Mixed” Altra Market score of 52.2, has seen several notable momentum shifts within individual stocks across different sectors. This market score, derived from the percentage of stocks above key EMAs, suggests a period where breadth is inconsistent, with more declines than advances (23 advances vs. 37 declines) and a 15-day score trend indicating a negative -14.8 shift. Amidst this backdrop, the Altra Score—a 0-100 momentum score for each stock based on EMA alignment and RSI trend across daily, weekly, and monthly timeframes, where higher scores signify more bullish momentum—has highlighted significant changes in Loblaw, CCL Industries, and Teck Resources.
Loblaw Companies Limited (L)
Loblaw, a key player in the Canadian Consumer Staples sector, experienced a substantial momentum reversal, with its Altra Score dropping from a “Bullish” 67.6 to a “Bearish” 39.4. This shift on July 23, 2026, reflects a clear loss of positive momentum. The stock is now trading below its key Exponential Moving Averages (EMAs), reinforcing the bearish sentiment. This individual stock move occurs within a CA Consumer Staples sector that currently holds an Altra Sector score of 71.0, ranking 3rd but also categorized as “bearish.” The Altra Sector score tracks momentum at the sector level, including a relative strength rank. While the sector is still lagging, there are nascent signs of improvement in its relative strength, with a 4-week trend of +1.92 and an RS RSI of 47.4. However, the negative EMA spread of -2.90 confirms overall weakness. For Loblaw itself, the daily Relative Strength Index (RSI) at 45.28 indicates short-term selling pressure, contrasting with a still strong monthly RSI of 72.55, suggesting that the recent downturn might be a deeper retracement within a longer-term positive trend rather than an outright reversal. The stock's current state, marked by its “Bearish” Altra Score and placement below key EMAs, suggests caution.
CCL Industries Inc. Class B (CCL-B)
CCL Industries Class B, operating within the CA Industrials sector, also saw its Altra Score adjust significantly, moving from a “Bullish” 78.4 to a “Neutral” 52.1. This change, while not as dramatic as Loblaw's, indicates a deceleration in bullish momentum. Despite this shift, CCL-B continues to trade above its key EMAs, suggesting that underlying support may still be present. The CA Industrials sector stands out with a robust Altra Sector score of 72.8, ranking 2nd and categorized as “bullish.” This sector is described as “strongly outperforming and accelerating,” evidenced by its 4-week relative strength trend of +1.50, a positive EMA spread of +0.65, and an RS RSI of 57.0. For CCL-B, the daily RSI of 52.34, weekly RSI of 58.82, and monthly RSI of 66.21 all remain above the 50-mark, implying that buying interest is still present across various timeframes. The move to “Neutral” for CCL-B might signify a period of consolidation or a temporary pause in its upward trajectory, rather than a definitive reversal, especially given the strength of its underlying sector.
Teck Resources Limited Class B (TECK-B)
In a contrasting move, Teck Resources Class B from the CA Materials sector experienced a strong bullish reversal, with its Altra Score jumping from a “Bearish” 42.1 to a “Bullish” 60.5. This significant shift signals a notable improvement in the stock's momentum profile. Following this change, TECK-B is now trading above its key EMAs, indicating renewed strength. The CA Materials sector currently holds an Altra Sector score of 57.6, ranking 7th and classified as “mixed.” While the sector is generally lagging, it is showing “minor improvement” with a 4-week relative strength trend of +1.10, although its EMA spread remains negative at -0.87, and its RS RSI is 48.3. For Teck Resources, the daily RSI of 59.87 demonstrates strong short-term buying momentum. However, the monthly RSI of 48.76, while the weekly is a neutral 50.21, suggests that this recent bullish surge may be working against some longer-term weakness. This rapid turn for TECK-B positions it as a stock to observe closely for sustained momentum, particularly as it navigates a sector that is still finding its footing.
What is the Altra Score? The Altra Score is AltraOne's proprietary momentum score for individual stocks, ranging from 0 to 100. It measures EMA structure and RSI momentum across multiple timeframes. A score above 60 is Bullish, below 40 is Bearish, and 40–60 is Neutral. The score is updated every trading day after market close based on end-of-day data.
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Altra Score is a momentum indicator reflecting EMA alignment and RSI trend across daily, weekly, and monthly timeframes. It is not investment advice. Past momentum does not guarantee future performance. Please consult a SEBI-registered advisor before making investment decisions.