If you have been following my blog, I have evaluated some of the biggest Canadian banks and insurance companies and I have CIBC, Scotia Bank, Sun Life Financial and Great West Lifeco. Inc. in my watchlist.
Let’s see if Scotia Bank, Sun Life Financial and Great West Lifeco. Inc. are good buys right now.
Scotia Bank (TSE: BNS)
Again, the purple line is 20-period simple moving average and the red lines are Bollinger Bands. As we can see, the stock is moving above the simple moving average. As a result, it is definitely not a good time to buy right now.
Sun Life Financial (TSE: SLF)
Although the stock is trading below the simple moving average, it is still above the lower Bollinger Bands (meaning it is not a good time now to buy). Fortunately, the stock is trading on a downward trend. Therefore, it is possible that the price will be below the lower Bollinger Bands sooner than expected.
Great West Lifeco. Inc. (TSE: GWO)
Unfortunately, the stock is trading just below the simple moving average and is in a upward trend. As a result, it is not a good stock to buy right now.
Since none of the stocks in my watchlist are good to buy now, how do I find out which stocks are good buys now?
I will talk about this in the next post. Feel free to leave any comments below! Catch you on the flip side!