Key TSX Names See Bullish Momentum
Constellation Software and Manulife Financial both saw their Altra Scores jump to Strong Bullish, signaling significant momentum shifts on the TSX.
- Visit the stock pages: CSU, MFC
- Sector XIT , which ranks #1 for Relative Strength (Altra Sector score of 91.0 with bullish regime.)
The TSX market has recently presented a nuanced picture, with the overall Altra Market score standing at a neutral 46.1. This indicates a mixed market texture where only 35.0% of stocks are trading above their 20-day and 50-day Exponential Moving Averages (EMAs), and 53.33% above their 200-day EMA. EMAs are widely used technical indicators that smooth out price data, helping traders identify and follow trends. Furthermore, the market's 15-day score trend shows a decline of 5.2 points, and the advance/decline ratio of 45/15 suggests more stocks losing ground than gaining. This backdrop of broad market caution, with AltraOne's analysis suggesting "Mixed signals" and a consideration to "reducing position size," makes individual strength all the more noteworthy.
AltraOne empowers traders and investors with accessible, data-driven momentum insights. The Altra Score is a comprehensive 0-100 metric for individual stocks, derived from the harmonious alignment of EMAs and the directional trend of the Relative Strength Index (RSI) across daily, weekly, and monthly timeframes. A higher Altra Score signals a stronger, more bullish momentum profile. The Altra Market score provides a macro perspective, reflecting overall market breadth by illustrating the percentage of stocks maintaining positions above key EMAs, thereby offering a quick read on the broader market's underlying texture. Complementing this, the Altra Sector score applies a similar robust momentum analysis at the sector level, coupled with a crucial relative-strength rank against other sectors within the same market, identifying current and emerging leaders.
Against this nuanced market backdrop, two prominent TSX names, Constellation Software and Manulife Financial, have notably distinguished themselves by shifting into the Strong Bullish category based on their Altra Scores within the same week. These cross-sector momentum shifts highlight focused strength even as the broader market exercises caution.
Constellation Software Inc. (CSU)
Constellation Software Inc. (CSU), a significant entity within the Technology sector, demonstrated a powerful surge in its momentum, as its Altra Score dramatically climbed from a Neutral 44.2 to a Strong Bullish 80.6 on October 1, 2026. This robust upward trajectory has continued, with CSU's current Altra Score standing at an impressive 86.1, cementing its position in the Strong Bullish category. This rapid escalation is particularly compelling given the "Mixed signals" from the broader TSX market.
Delving into the sector context, the CA Technology sector stands out as a clear leader. It boasts a formidable Altra Sector score of 91.0, securing its rank as the #1 performing sector and indicating a strongly bullish underlying trend. The sector's regime is further characterized as a confirmed leader that is actively accelerating, evidenced by a healthy Relative Strength Index (RS RSI) of 61.8, which measures a sector's momentum relative to the broader market.
CSU's individual technical indicators largely reinforce this bullish narrative. The stock is currently trading above its key EMAs, a foundational signal of an upward trend. While a bearish Weekly EMA Crossover was observed on September 22, 2026 – where a shorter-term moving average crossed below a longer-term one – the subsequent strong Altra Score increase and current EMA placement suggest a swift recovery or renewed buying interest. Its daily RSI of 56.09 and weekly RSI of 52.18 indicate healthy momentum without being overextended. However, the monthly RSI of 33.96 suggests long-term momentum might be less pronounced or still developing, leading to CSU not being "top-down aligned" – meaning consistent bullish momentum across all timeframes is not yet fully synchronized. This aspect warrants a comprehensive view for traders.
Manulife Financial Corporation (MFC)
Manulife Financial Corporation (MFC), a prominent force within the Financials sector, also marked a significant momentum shift, with its Altra Score rising from a Neutral 54.1 to a Strong Bullish 82.1 on October 2, 2026. This decisive move firmly places MFC in the Strong Bullish category, highlighting a marked improvement in its price action and underlying trend strength.
MFC's ascent to Strong Bullish status, like CSU's, occurs amid the "Mixed signals" of the broader TSX market, where Altra Market analysis suggests a cautious approach. However, the CA Financials sector, while not the top performer, maintains a bullish posture with an Altra Sector score of 64.0, ranking it third among sectors. Its regime is also that of a confirmed leader, although the data indicates it is currently "cooling off" slightly, with an RS RSI of 50.0. This suggests that while the sector has been a leader, its relative strength momentum against other sectors is stabilizing rather than accelerating.
From a technical standpoint, MFC is notably positioned above its key EMAs, reinforcing its current bullish trend. Its Relative Strength Index readings are robust across multiple timeframes: daily at 52.33, weekly at 62.99, and a particularly strong monthly RSI of 76.09. The high monthly RSI is indicative of powerful, sustained long-term upward momentum, providing a solid foundation for its recent Altra Score surge. A bullish Weekly EMA Crossover was identified much earlier, on April 25, 2025. This long-standing bullish signal from its weekly EMAs has likely contributed to the sustained positive trend that culminated in its recent Strong Bullish Altra Score. Similar to CSU, MFC is not currently "top-down aligned." This implies that while the stock exhibits significant strength, particularly on weekly and monthly charts, a perfectly synchronized bullish trend across all daily, weekly, and monthly views might not be present, urging traders and investors to consider the distinct characteristics of its momentum across different timeframes.
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.
Explore the full Signal History on AltraOne to see every EMA crossover signal across your watchlist — going back 52 weeks. The weekly EMA crossover is AltraOne's highest-conviction intermediate momentum signal; the Signal History page lets you track how these have played out over time.
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.