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Watchlists-Penny Stock Investment Strategy

Stock Watch Canada: Top Picks 2024

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Written by Tim-bot
Reviewed by Friedrich Odermann Fact-checked by Ed Weinberg
Updated 11/17/2023 18 min read

Stock Watch Canada is a comprehensive, subscription-based service providing real-time quotes, trades, and market depth for companies listed across major North American stock markets, including NYSE, AMEX, NASDAQ, OTCBB, OTC Markets, OPRA Options, Toronto, Montreal, and CSE. Established in 1995 and catering to a range of investors from the casual to the professional, Stockwatch offers unlimited access to market data, company news, dynamic charts, and analytical tools, making it an indispensable resource for active traders seeking to navigate the complexities of the stock market.

You should read the article because it equips you with the foresight to navigate the Canadian stock market’s potential in 2024, highlighting tools and insights for informed trading decisions.

I’ll answer the following questions:

  • What is Stock Watch Canada and how does it serve traders?
  • Which top stocks should be on your watchlist in Canada for 2024?
  • What are the key platforms for stock monitoring in Canada?
  • How does StocksToTrade provide Canadian market insights?
  • What benefits does monitoring stocks in Canada offer to traders?
  • How can staying updated with market trends impact your investment strategy?
  • What challenges might investors face with stock monitoring?
  • How do global events impact the Canadian stock market?

Let’s get to the picks!

What Is Stock Watch Canada?

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Stock Watch Canada is not just a tool; it’s a trader’s ally in the digital age. It’s where real-time market data streams continuously, providing the pulse of the stock market at your fingertips. With features tailored for both the seasoned and novice trader, it offers a deep dive into the markets, delivering a wealth of information from stock quotes to company news bulletins. It’s a platform where trading decisions are informed by the latest market insights, ensuring that every move is backed by solid data.

Top Stocks to Watch in Canada for 2024

My top Canadian stock picks are:

As we cast our eyes to 2024, the Canadian stock market brims with potential. From burgeoning tech firms to stalwart commodities, the landscape is diverse. Top stocks to watch are those poised for growth, riding the wave of innovation or offering stability in turbulent times. They are the shares that buzz in traders’ conversations, where the data points to a story of potential success. These are the companies making bold moves, the ones to watch as they shape the market’s future.

Before you send in your orders, take note: I have NO plans to trade these stocks unless they fit my preferred setups. This is only a watchlist.

The best traders watch more than they trade. That’s what I’m trying to model here. Pay attention to the work that goes in, not the picks that come out.

Sign up for my NO-COST weekly watchlist to get my latest picks!

BlackBerry Limited (NYSE: BB)

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My first Canadian stock pick is BlackBerry Limited (NYSE: BB).

BlackBerry, once a leader in mobile technology, has pivoted towards cybersecurity and software services. While its share price has seen ups and downs, it remains a topic of interest among investors. The company’s operations have expanded into various segments, including IoT and enterprise software. If you’re considering investing in BlackBerry, pay attention to its revenue growth and recent acquisitions, as these could be indicators of future performance.

Shopify Inc. (NYSE: SHOP)

My second Canadian stock pick is Shopify Inc. (NYSE: SHOP).

Shopify is a Canadian e-commerce giant that has seen tremendous growth. With a strong business model that caters to both small and large retailers, it has a competitive advantage in the market. The company’s performance is often highlighted in analysts’ reports, and its valuation is a subject of much discussion. If you’re looking for a tech stock with strong fundamentals and growth prospects, Shopify should be on your radar.

Tilray, Inc. (NASDAQ: TLRY)

My third Canadian stock pick is Tilray, Inc. (NASDAQ: TLRY).

Tilray is a pharmaceutical and cannabis company that has garnered a lot of attention. Its share price can be volatile, so it’s essential to consider its EBITDA, cash flow, and debt levels before investing. The company has made strategic acquisitions to expand its product line and increase its market share. Keep an eye on its performance in both the North American and international markets.

Bright Minds Biosciences Inc (NASDAQ: DRUG)

My fourth Canadian stock pick is Bright Minds Biosciences Inc (NASDAQ: DRUG).

Bright Minds is a biotech company focusing on the development of therapies for neuropsychiatric disorders. While it’s a smaller player, its unique approach to drug development makes it an interesting investment opportunity. Before diving in, consider the company’s revenue growth, its research and development strategy, and the competitive landscape in the biotech industry.

Cybin Inc (AMEX: CYBN)

My fifth Canadian stock pick is Cybin Inc (AMEX: CYBN).

Cybin is another biotech company, but it focuses on psychedelic therapies for mental health conditions. The company is in the early stages of clinical trials, so it’s considered a higher-risk investment. Look at the company’s financials, including its cash flow and debt levels, to gauge its long-term viability. Keep an eye on news about its clinical trials, as positive results could significantly impact its share price.

Key Platforms for Stock Monitoring in Canada

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My Canadian trading platform picks are:

  • StocksToTrade – Canadian Market Insights
  • Stockwatch
  • Market Watch – Canadian Markets
  • The Globe and Mail – Real-Time Stock Market Prices
  • Tmx Money – Canadian Stock Market Summary
  • Yahoo Finance

Navigating the stock market’s ebb and flow demands robust platforms that offer comprehensive insights and real-time data. In Canada, traders have a suite of tools at their disposal. From StocksToTrade providing a lens into Canadian market trends to Stockwatch’s real-time quotes, the resources are vast. Market Watch and The Globe and Mail offer up-to-the-minute stock values and analyses, while Tmx Money delivers a daily summary of market activities. For global and Canadian trends, Yahoo Finance is the go-to for business news and financial insights.

StocksToTrade – Canadian Market Insights

When it comes to trading platforms, StocksToTrade is first on my list. It’s a powerful trading platform that integrates with most major brokers. I helped to design it, which means it has all the trading indicators, news sources, and stock screening capabilities that traders like me look for in a platform.

I use StocksToTrade to scan for news, tweets, earning reports, and more — all covered in its powerful news scanner. It has the trading indicators, dynamic charts, and stock screening capabilities that traders like me look for in a platform. It also has a selection of add-on alerts services, so you can stay ahead of the curve.

Grab your 14-day StocksToTrade trial today — it’s only $7!

Stockwatch

Stockwatch is a vital tool for traders focusing on the Canadian exchange, offering a robust platform for real-time stock quotes and market data. It caters to a range of users from casual observers to professional traders, providing detailed information on indices, futures, and ETFs. Analysts and brokers rely on Stockwatch for its comprehensive listings and up-to-the-minute headlines, making it a cornerstone in the Canadian financial market’s information chain.

Market Watch – Canadian Markets

Market Watch provides a panoramic view of the Canadian markets, tracking the Dow, and other indices, while offering insights into futures and forex fluctuations. It’s a go-to for investors seeking expert analysis and stories that affect market results. The platform’s content, including a financial calendar and links to important notices, supports investors in making timely decisions backed by data.

The Globe and Mail – Real-Time Stock Market Prices

The Globe and Mail offers real-time stock market prices, focusing on the Canadian landscape. It’s a source of authority for investors tracking the TSX and its CEOs, and the technology sector’s performance. The publication delivers a stream of content that includes market trends, treasury movements, and investment ideas, all crucial for those invested in Canadian real estate to gold markets.

TMX Money – Canadian Stock Market Summary

TMX Money provides a daily summary of the Canadian stock market, offering insights into volume, yields, and payment trends. It’s a resource for those looking to understand the ebb and flow of market support and the implications of new listings. The platform is a treasury of information for investors, from novices to seasoned brokers, looking to navigate the complexities of the market.

Yahoo Finance

Yahoo Finance is a global platform that offers a window into Canadian and international markets. It provides a broad spectrum of financial information, from ETFs and futures to forex and analyst opinions. The site is a hub for investors seeking links to market stories, video content, and expert advice, helping them stay informed about the latest market movements and technology deals.

Benefits of Monitoring Stocks in Canada

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Monitoring stocks in Canada is a strategic endeavor that keeps traders aligned with market trends and ahead of the curve. It’s about making informed investment decisions, identifying potential opportunities, and understanding the market’s rhythm. With a vigilant eye on the stocks, traders can spot the early signs of movement, allowing them to act swiftly and decisively. It’s a practice that turns information into a valuable commodity, and when done right, it can be the trader’s greatest asset.

Staying Updated with Market Trends

Staying updated with market trends is crucial for investors, as it helps them to anticipate changes and adjust their strategies accordingly. Platforms like Stockwatch and Market Watch offer real-time data and analysis on indices and futures, which are essential for understanding market dynamics. Keeping abreast of these trends is key to maintaining a competitive edge in the fast-paced world of investing.

Making Informed Investment Decisions

Making informed investment decisions is the cornerstone of successful investing. With access to expert analysis and real-time data from sources like The Globe and Mail and TMX Money, investors can gauge market sentiment and make decisions based on solid research and current trends. This approach is essential for managing risks and capitalizing on opportunities in the market.

Making informed investment decisions extends beyond understanding market trends to knowing the sectors poised for growth. Consumer discretionary stocks, for example, can offer insights into consumer behavior and economic health. As we look towards 2023, it’s crucial to keep an eye on companies that consumers are willing to spend on even when budgets are tight. For a detailed look at consumer discretionary stocks that could make significant moves in the coming year, traders should explore these top consumer discretionary stocks to watch in 2023.

Identifying Potential Investment Opportunities

Identifying potential investment opportunities requires vigilance and a keen understanding of market indicators. Tools like Yahoo Finance provide a wealth of information, including analyst ratings and broker recommendations, which can highlight promising investments. By leveraging these resources, investors can spot trends and make strategic choices that align with their investment goals.

In the quest for potential investment opportunities, traders are often on the lookout for stocks that are gaining traction in popular forums. Reddit, known for its community-driven discussions, has become a hotbed for highlighting trending penny stocks. These stocks can be volatile, but they also present a unique chance for traders who know how to capitalize on the buzz. For those interested in which penny stocks are currently trending on Reddit and how they might fit into a well-rounded trading strategy, this comprehensive list of trending penny stocks on Reddit can serve as a valuable resource.

Challenges in Stock Monitoring

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Yet, with the wealth of information comes the challenge of navigating volatile market movements and the deluge of data. The stock market is a dynamic beast, with shifts that can turn the tide in an instant. Traders must remain vigilant, sifting through the noise to find the signals that matter. It’s a task that requires constant attention and the ability to discern the meaningful trends from the everyday market chatter.

While monitoring stocks, traders face the challenge of understanding the different sectors that make up the market. Each sector reacts differently to economic cycles, and knowledge of these can be the difference between a winning and a losing trade. For traders aiming to deepen their understanding of the various stock sectors and how they operate, it’s beneficial to delve into this guide on different stock sectors, which can help in making more informed decisions and identifying potential opportunities across the market spectrum.

Volatile Market Movements

Volatile market movements are a reality of investing, and they can be particularly pronounced in sectors like real estate and technology. Investors must monitor these fluctuations closely, using platforms that provide comprehensive market data and expert insights. This helps them understand the underlying factors driving volatility and respond proactively.

Information Overload

Information overload can be a significant challenge for investors, with a constant stream of data, headlines, and stories to sift through. It’s essential to curate content effectively, using trusted sources and tools that offer concise summaries and actionable insights. This enables investors to focus on the most relevant information and make informed decisions without becoming overwhelmed.

Need for Constant Vigilance

The need for constant vigilance in the stock market cannot be overstated. With markets impacted by a myriad of factors, from global events to shifts in consumer rights, investors must stay alert to changes. Utilizing a mix of resources, including economic calendars and real-time updates, helps maintain this vigilance and supports ongoing success in investment endeavors.

Key Takeaways

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The essence of stock watching is about staying informed and ready to act. It’s a discipline that combines the analytical with the instinctual, where each piece of data can be the key to unlocking market potential. As we look towards 2024, the landscape of Canadian stocks is vibrant and varied, offering opportunities for those who know where to look and what to watch for.

Trading isn’t rocket science. It’s a skill you build and work on like any other. Trading has changed my life, and I think this way of life should be open to more people…

I’ve built my Trading Challenge to pass on the things I had to learn for myself. It’s the kind of community that I wish I had when I was starting out.

We don’t accept everyone. If you’re up for the challenge — I want to hear from you.

Apply to the Trading Challenge here.

Trading is a battlefield. The more knowledge you have, the better prepared you’ll be.

What Canadian stocks are on your watchlist? Let me know in the comments — I love hearing from my readers!

FAQs about Stock Watch Canada

How Can I Get Real-Time Stock Updates for Canadian Markets?

For real-time stock updates on Canadian markets, traders can subscribe to services like Stockwatch, which provide comprehensive market data and news bulletins. These platforms are designed to keep investors abreast of the latest price movements, market conditions, and company-specific news that could impact their investment decisions. With the integration of these tools into a trader’s strategy, staying updated becomes a seamless part of the trading experience.

Are There Any Mobile Apps for Monitoring Canadian Stocks?

Yes, there are several mobile apps dedicated to monitoring Canadian stocks and indexes, offering the convenience of tracking investments on the go. These apps provide real-time quotes, portfolio tracking, and market news, and are available in app stores. With the rise of mobile trading, these apps have become crucial for investors who demand timely information and the ability to act quickly on market changes.

How Do Global Events Impact the Canadian Stock Market?

Global events can significantly impact the Canadian stock market, as it is interconnected with the global economy. Issues ranging from geopolitical tensions to international trade agreements can influence market sentiment and cause fluctuations in stock prices. Investors must keep a keen eye on global news and analyze how such events may affect Canadian markets and their investment positions.

How Do Payments and Workers Influence Stock Picks?

Stock picks in sectors like technology and manufacturing can be influenced by the efficiency of their payments systems and the productivity of their workers. For instance, a company that optimizes its payment process for both customers and suppliers may see a positive impact on its stock value. Similarly, companies that invest in their workforce in countries like China may experience growth due to increased efficiency and output.

Can Family Dynamics Impact Stock Performance?

While not a traditional metric for stock evaluation, the influence of key figures such as a company’s president and experts, and even their approach to family dynamics, including support for mothers and kids, can affect a company’s public image and, subsequently, its stock performance. Companies with strong family-friendly policies may attract and retain valuable employees, potentially leading to better overall performance.

Is There a Connection Between Microsoft and China in Stock Picks?

When considering stocks like Microsoft, it’s important to understand its position and operations within global markets, including China. As a major player in the tech industry, Microsoft’s dealings with payments, workers’ rights, and international relations, including its stance on various issues, can have a ripple effect on its stock value and investor interest.


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Author card Timothy Sykes picture

Timothy Sykes

Tim Sykes is a penny stock trader and teacher who became a self-made millionaire by the age of 22 by trading $12,415 of bar mitzvah money. After becoming disenchanted with the hedge fund world, he established the Tim Sykes Trading Challenge to teach aspiring traders how to follow his trading strategies. He’s been featured in a variety of media outlets including CNN, Larry King, Steve Harvey, Forbes, Men’s Journal, and more. He’s also an active philanthropist and environmental activist, a co-founder of Karmagawa, and has donated millions of dollars to charity. Read More

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* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

Millionaire Media 66 W Flagler St. Ste. 900 Miami, FL 33130 United States (888) 878-3621 This is for information purposes only as Millionaire Media LLC nor Timothy Sykes is registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Millionaire Media LLC and Timothy Sykes cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Millionaire Media LLC and Timothy Sykes in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media LLC and Timothy Sykes accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”