Magna International Inc (NYSE:MGA, TSE:MG.A) – $51.92U.S., $49.66

Cdn.

News event: General Motors decides not to sell its Opel unit to Magna

Technical comment: Magna currently has a mixed intermediate technical profile. Intermediate trend is down. Strength relative to the TSX Composite Index and S&P 500 Index has been neutral during the past two months. However, short term technical parameters are turning positive. The stock recently found support at its 200 day moving average currently at $42.30 and broke above its 50 day moving average this morning. Short term momentum indicators (RSI, MACD and Stochastics) currently are oversold and trying to recover.

Chart courtesy of Stockcharts.com www.stockcharts.com

Agrium Inc (NYSE:AGU, TSE:AGU) – $45.92U.S., $43.12Cdn.

News event: Positive fourth quarter guidance, extension of its offer to buy CF Industries.

Technical comment: Agrium currently has a positive intermediate technical profile. Intermediate trend is up. The stock has support at $50.07 Cdn. and recently bounced from near its 200 day moving average currently at $49.78 Cdn. Strength relative to the S&P 500 and TSX Composite has been positive since early July. Short term momentum indicators (MACD, RSI and Stochastics) are oversold and trying to recover. Resistance exists at $60 Cdn. Seasonal influences are positive until the end of December.

Chart courtesy of StockCharts.com www.stockcharts.com

Don Vialoux

Director of the Canadian Society of Technical Analysts

Comments offered in this report are for information only. They should not be considered as advice to purchase or to sell mentioned securities. An attempt to provide accurate data has been made, but accuracy is not guaranteed. Comments are from Don Vialoux and not from the Canadian Society of Technical Analysts.

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