For nearly six years, Saputo ( SAP-T , Monday’s close $37.72) traded below a declining trendline, falling from $46.61 in April, 2019, to $22.59 in January of this year (A–B). The sharp rally from that low to the recent high of $38.14 (B–C) produced the first clear breakout above the trendline in six years – a technically significant indication that the long-standing downtrend has ended and a new upward trend is underway.

Behavioral indicators – including the rising 40-week moving average (40wMA) and the upward-sloping trendline (solid line) – reinforce this bullish outlook. Strong support exists in the $33–34 area; a decline below this level would imply a pullback toward the rising trendline, which currently aligns with the 40wMA, near $30. Only a sustained move beneath the latter would

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