10 Potential Canadian Growth Stocks to Keep An Eye on in 2018
If you looking to make money in the stock markets this year, then you should seriously consider Canadian stocks. To help you make the best investment decision possible, here are 10 Canadian stocks you can invest in that can potentially make provide some solid returns.
This is one of the largest medical marijuana companies in Canada. The company has been quite profitable, and saw a growth of 39% in the fourth quarter of 2017. It intends to get into the recreational marijuana market, which will push its profits even higher. From a technical view point, the stock is on a positive trend, which makes it a great stock to hold in 2018. Source: https://finance.yahoo.com/quote/ACBFF/
This stock has had a consistent growth rate of over 26% in the last 5 years. Its share price has also been impressive, having gained more than 65% since 2017. As the company continues to open new stocks across Canada, you can expect its value to skyrocket in 2018. A look at the stock’s one year chart shows a strong up trend. You should be looking to buy the recent dip, in anticipation of a continuation of the uptrend.
NuVista Energy (NVA.TO)
This is a great investment considering that the price of oil is on a rebound. The company is focused on the oil and gas sector, and has made heavy investments in ensuring production efficiency. The management expects revenues to grow by over 20% in 2018, which is quite high. Even from a technical perspective, it is clear that the price of NuVista is on an upward trend, and might rise to $12 once it breaks the $8.5 resistance level. You should consider buying the dips on this stock then hold.
Brick Brewing (BRB.TO)
This is a craft bear making company that has a healthy market cap of $122 million. While the company’ profits have dropped, this stock is expected to rebound now that it has got rid of non-performing aspects of the business. Even from a technical perspective, the price has been on the rise for the last several months. It makes sense to buy the current dip, in anticipation of value growth, now that the non-performing aspects of the business are out.
This is another fast growing Canadian Weed Company. This company has recorded a year-on-year growth of 90% up to 2017, and is not showing signs of slowing down. Once recreational cannabis is legalized in Canada, you can expect a serious surge in the value of this stock. From a technical analysis viewpoint, the stock is forming a double-bottom on the yearly charts, which is a perfect entry point for an investor. Follow Hashtag investing to learn more about technical analysis.
This is one of the largest weed stocks in the world, with a market capitalization of more than $3 billion. The company has already completed its regulatory submissions for Epidiolex, a cannabis drug. Once this is approved, you can expect this stock to perform well in 2018. Looking at the company’s one year charts, it is clear that it is sitting on a long-term support line. Once its drug is approved by U.S authorities, you can expect its value to surge significantly.
This is a cannabis stock that is focused on the biotech aspect of the cannabis business. The opportunity in this stock comes from the fact it has significantly dropped in value in the last few quarters. However, prices might have bottomed out. In the last quarter, it didn’t meet targets but the price didn’t drop. This is a pointer to a stock that has hit its bottom. From this point on, there is a good chance that any good news will have a positive impact on the price of this stock. This is quite clear in the stock’s 1 year price chart below.
Constellation software incorporated
This is a software company that has enjoyed a 30% growth rate in the last 3 years. Its primary source of growth is acquisitions. As it continues with its acquisition drive, you can expect a good value growth in 2018. From a technical analysis perspective, the stock is on a strong up trend, and buying now would allow you to benefit from the uptrend.
Hydrogenics (HYGS, HYG.TO)
This company is focused on renewable energy, which is big business both in Canada and all across the world. Though a small market cap company, it has operated profitably for the last ten years. Recently, the company entered into a deal with Blue-G a Chinese green company. From a technical viewpoint, this stock is on an upward trend, having successfully regained a significant portion of the losses incurred when the price dropped in January.
This is the number one company in the Canadian medical marijuana market by revenues. It has made some serious in-roads into international markets especially in Europe and South America. Considering the fast growth of the cannabis market, you can expect this stock to continue performing well. From a technical perspective, this stock is in consolidation phase. You can expect it to start gaining once 2018 quarter one figures are out.