• Toronto Dominion (TD) has a 100% technical “Buy” signal via Barchart.
• TD hit a new 52-week high of $70.80 in morning trading on June 11.
• Shares are up nearly 30% in the past year.
• Analysts are moderately bullish on Toronto Dominion at current levels. 

Today’s Featured Stock:

Valued at $122 billion, Toronto Dominion (TD) is a Canadian chartered bank that offers a wide range of business and consumer services. These services include checking and savings accounts, credit cards, mortgage and student loans, trusts, wills, estate planning, investment management services, and financial and advisory services. 

What I’m Watching:

I found today’s Chart of the Day by using Barchart’s powerful screening functions. I sorted for stocks with the highest technical buy signals, superior current momentum in both strength and direction, and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. TD checks those boxes. Since the Trend Seeker signaled a buy on April 21, the stock has gained 16.29%.

TD Price vs. Daily Moving Averages:

Barchart Technical Indicators for Toronto Dominion:

Toronto Dominion shares hit a new 52-week high on June 11, touching $70.80 at the open.

• Toronto Dominion has a 100% technical “Buy” signal.
• The stock recently closed at $70.73, above its 50-day moving average of $63.53.
• TD has a Weighted Alpha of +36.20.
• The stock has gained 29.2% over the past year.
• TD has its Trend Seeker “Buy” signal intact.
• Toronto Dominion is trading above its 20, 50 and 100-day moving averages.
• The stock has made 18 new highs and gained 12.1% in the last month.
• Relative Strength Index is at 79.75%.
• The technical support level is $70.23.

Follow the Fundamentals:

• $122 billion market cap.
• Revenue is projected to be down 3.66% this year but up another 3.84% next year.
• Earnings are estimated to increase 7.59% this year and an additional 14.08% next year.

Analyst and Investor Sentiment on Toronto Dominion:

I don’t buy stocks because everyone else is buying, but I do realize that if major firms and investors are dumping a stock, it’s hard to make money swimming against the tide.

It looks like not only Wall Street analysts, but also many of the popular investing advisory services, are moderately bullish on this stock.

• Wall Street analysts tracked by Barchart issued six “Strong Buy,” one “Moderate Buy,” five “Hold,” and one “Sell” opinion on the stock.
• Value Line gives the stock its average rating.
• CFRA’s MarketScope rates the stock a “Sell.”
• MorningStar thinks the stock is fairly valued.
• 79,730 investors monitor the stock on Seeking Alpha, which rates the stock a “Hold.”

The Bottom Line:

Toronto Dominion currently has momentum and support from both the market and individual investors.

I caution that TD is volatile and speculative — use strict risk management and stop-loss strategies.

Additional disclosure: The Barchart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.