Rona (RON.TO) has been working to deal with the competitive power of Home Depot (HD) and Lowe's (LOW) as they have continued their push into the Canadian DIY and contractor markets. I am not quite a platinum member at all three stores, but when the staff call you by name, your not far away.
Recently, Rona went on a tear!
Something is a changin' in the stock! The surge looks parabolic, so I would have trouble adding it into my portfolio here, but a pullback might make a nice entry. The weekly says it might be about to pause as well.
Has Rona started something constructive? It would appear to have. The pessimist says its back to where it was 4 years ago. The optimist says it been making higher lows for years! You'll have to decide which camp you are in, but the SCTR suggests it is now a top quartile stock. That can't be bad, or we could say they are "Doing It Right".
Good trading,
Greg Schnell, CMT
