AMG eases Dolphin Cove out of TOP 10

AMG Packaging back in IC TOP 10.

Only one change occurred in the TOP 10 list for the past week with AMG Packaging reentering the list and Dolphin Cove moving out, as the price of the latter moved back to $20 from $18, the week before.
In the main market Berger Paints jumps to third position from 7 with the price tumbling from $17.31 to $12.50 during the week after trading at a low of $12.05.
The other news worthy development of the week was the increase in the price of former TOP 10 Junior Market listing, Jetcon Corporation that drop out of the top list last week. The stock closed at a new high during the past week but ended at $5.90 after 3 for 1 stock split took effect on Thursday, with attempts to trade at $7.40 on Friday thwarted by the circuit breaker rules. The trade was cancelled after the market closed.
Market movement continues to be constrained by near term resistance levels but it does not prevent stocks from moving in either direction, but it will tend to keep prices overall from big movements upwards.
The average PE ratio for the Junior Market Top stocks is 7.3 and 6.9 in the main market, these compare favourably with 13.5 for the overall main market and 13 for Junior Market, based on 2017 estimated earnings. Several stocks are trading below these averages, and have potential for more gains in the months ahead, barring major negative developments.
At the close of the week, IC’s TOP 10 Junior Market stocks now trade at an average discount of 43 percent to the Junior Market average, while those in the main market are trading at a 49 percent discount, to the average of the market, leaving stocks with room for growth in the months ahead. At the end of April the reading was 35 percent discount for the juniors and 53 percent for the majors.

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