Energy & power

ATCO (ACO.X)

C$77.61 −2.7% on the day·+56.7% in a year·close Oct 13, 2026

Listed on the Toronto Stock Exchange; prices in Canadian dollars. All 218 TSX stocks.

Your signal

Buy73 / 100

Buy: 73 is at or above your Buy line of 60. Off the high (−5% from its 1-year high) scores 83 and lifts it; Plays in (62%) scores 62 and holds it back.

Every factor in this score has a tested record: each was checked month by month since 2011 on numbers public at the time.

Factor you weight	ACO.X	Points	Weight	Adds
Plays in	62%	62	40	24.8
Off the high	−5% from its 1-year high	83	30	24.9
Trend	+13% vs 200-day	79	30	23.7

Email me when it flips

Your signal is the one call Be The Puck makes on a stock, and you set it: weight the plays, analysts, P/E, growth, debt, trend and more, and move the Buy and Sell lines. Every page follows your choice. How the score works

All 18 factors for ACO.X

Factor	ACO.X	Points	What it is
Plays in	62%	62	The share of the plays you count that hold it now.
Analysts' upside	+17% · 5 analysts	53	How far analysts' average 12-month target sits above the price (3+ analysts). −20% scores 0, +50% full marks; at most 50 while the price is below its 200-day average, since targets lag a falling price.
Analysts' rating	2.4 · buy	30	The analysts' average recommendation: strong buy scores 100, hold or worse 0.
P/E	48.5×	19	Price over the last four quarters' earnings per share. Lower ranks higher; a loss scores 0. Source: Yahoo Finance.
Forward P/E	15.0×	53	Price over next year's expected earnings. Lower ranks higher; an expected loss scores 0. Source: Yahoo Finance.
PEG	1.14	60	P/E divided by expected earnings growth. Lower ranks higher; around 1 is often read as fair for the growth. Source: Yahoo Finance.
Price to sales	1.5×	78	Market value over the last 12 months' revenue. Lower ranks higher. Source: Yahoo Finance.
Price to book	1.8×	80	Price over book value (assets minus debts) per share. Lower ranks higher. Source: Yahoo Finance.
Dividend yield	2.6%	63	Dividends over the last year as a share of the price. Higher ranks higher; no dividend scores 0. Source: Yahoo Finance.
Earnings growth	+37%	63	Earnings per share over the last four quarters against the four before (the latest quarter on a year earlier where filings aren't available). Higher ranks higher. Source: Yahoo Finance.
Revenue growth	+14%	52	Revenue over the last four quarters against the four before (the latest quarter on a year earlier where filings aren't available). Higher ranks higher. Source: Yahoo Finance.
Profit margin	3%	28	Net profit as a share of revenue. Higher ranks higher. Source: Yahoo Finance.
Return on equity	3%	24	Profit as a share of shareholders' equity. Higher ranks higher. Source: Yahoo Finance.
Debt to equity	1.50×	17	Debt against shareholders' equity. Lower ranks higher; negative equity scores 0. Source: Yahoo Finance.
Off the high	−5% from its 1-year high	83	How far the price sits below its highest close of the last year: 100 points at the high, none at 30% or more below. The exit rule: a stock that keeps falling loses points whatever else it has going for it.
Trend	+13% vs 200-day	79	How far the price sits above its 200-day average. Higher ranks higher.
1-year momentum	+57%	80	The price change over the last 12 months. Higher ranks higher.
Low crash exposure	3/10 · moderate	70	The storm test: 100 for no exposure, 10 points off per point of exposure.

The read

Test a theory on ACO.X

62 of the 100 plays hold ACO.X right now.
The trend-following, breakout and momentum plays mostly say in; the mean-reversion and pattern plays mostly say out.
It closed 13% above its 200-day average and 5% below its 52-week high.
Crash exposure reads moderate: it carries 2.9× as much debt as equity and operating profit covers interest only 1.7×.
Analysts' average 12-month target is C$91.00, 17% above the close (5 analysts).

This analysis does not constitute trading advice. Please meet with an advisor or independently review sources before making any decision. New to this? Start with the basics.

Plays in62 / 100Every play Be The Puck tests, in 7 families.

Crash exposureModerate3 of 10 on the storm test Mayer Multiple1.13×Price ÷ its 200-day average (+13%). Higher than on 80% of days since 2005. Above 2.4 is Mayer's overheated zone.

The most accurate play in each family

Each family's play whose calls went the right way most often, tested on 351 stocks since 2005, and what it says about ACO.X now.

Trend followingHoly GrailOUT42% of 12,813 calls rightOn ACO.X: right 28 of 58 · Out since Mar 27, 2026 Breakouts & channelsP&F Double TopIN37% of 36,314 calls rightOn ACO.X: right 16 of 38 · In since May 7, 2024 Momentum12-1 MomentumIN44% of 8,156 calls rightOn ACO.X: right 9 of 18 · In since Jun 28, 2024 Mean reversionBollinger ReversionOUT64% of 53,095 calls rightOn ACO.X: right 130 of 192 · Out since Sep 18, 2026 Volume & money flowMoney Flow IndexOUT59% of 13,925 calls rightOn ACO.X: right 26 of 42 · Out since Oct 27, 2025 Candles & chart patternsEngulfing SwitchOUT50% of 38,976 calls rightOn ACO.X: right 78 of 169 · Out since Sep 10, 2026 CalendarHalloween IndicatorOUT54% of 12,345 calls rightOn ACO.X: right 24 of 43 · Out since Apr 30, 2026

A call is right when the stock rose after an in call or fell after an out call. Trend plays are built to take many small losses for a few big wins, so their hit rates run lower; being right often isn't the same as making the most money. How we test a play.

ACO.X, day by day

How to read candlesticks

Each candle is one trading day: the box spans the open and close, the thin line the day's high and low. Hollow boxes closed up, filled boxes closed down. Toggle the averages to see the trend the plays read. Dots above the candles mark news and company filings: hover or tap one to see the story and how the stock moved from the last close before it, against the market on the same days.

What moved ACO.X lately

Its biggest move against the S&P/TSX in the last 30 sessions, the news read on each, and how reliably that kind of news has moved stocks before. How it's measured

Tue Oct 6+8.9% against the S&P/TSX5.7× a normal day

ACO.X +9.2%, the S&P/TSX +0.4% that session; +3.3% against the S&P/TSX over five sessions.

Acquisition newsPulse 2.0 · Oct 6, 10:22 am ET
Emera And Canadian Utilities To Combine In $72 Billion Merger (+2 similar)
After acquisition headlines, stocks did better than their index at the first close after the news 58% of the time (47 of 81 on 55 stocks; median move +0.3%). No direction was expected. Low predictability Early read
ACO.X after acquisition headlines: ahead of its index at the first close after the news 2 of 3 times (median +2.8%).
HeadlineBusiness Wire · Oct 6, 8:00 am ET
Emera, ATCO and Canadian Utilities Announce Transformational Agreement to Create Canadian Utility and Energy Infrastructure Powerhouse
HeadlineMugglehead Investment Magazine · Oct 6, 7:03 am ET
Emera sets 0.755 for non-ATCO Canadian Utilities Class A
HeadlineMoomoo · Oct 6, 4:30 am ET
Canadian Stock Movers for Tuesday | Atco Ltd Was the Top Gainer; Other Energy Sources Led Gains

Next earnings report

Fri Nov 6, 2026 before the open

From Yahoo Finance's calendar; dates can move. Analysts expect earnings per share of 0.95.

Over its last 12 reports, ACO.X's typical move against the S&P/TSX at the first close after the report was ±2.0% (median size, either way); it finished ahead of the index 6 times.
ACO.X after beats of 5% or more: ahead of its index at the first close after the report 19 of 24 times (median +0.9%).
ACO.X after misses of any size: behind its index at the first close after the report 11 of 16 times (median −1.2%).
Across all covered stocks, beats of 5% or more were followed by a gain against the index 64% of the time and misses by a drop 62% of the time.

Whether a report beats is only known once it is out, so these say how the stock has reacted, not which way it will go.

Two years of calls, week by week

InOutShare of plays in

One row per play, grouped by family. When most rows turn green at once, the trend is broad. When they split, the plays disagree and the stock is usually chopping sideways.

Every play on ACO.X

All 100 plays, by family.

Trend following24 of 30 in Breakouts & channels11 of 15 in Momentum16 of 17 in Mean reversion3 of 15 in Volume & money flow4 of 9 in Candles & chart patterns0 of 3 in Calendar4 of 11 in

Calls right: how often the play's calls on ACO.X went the right way since 2005. Record columns: play / buy and hold, annual return and worst drawdown since 2005. Click a column to sort.Sort with the menu above the list.

Play	Call	Since	Next move	Calls right	Annual return	Worst drawdown
Trend following
PB EMABitcoin Playboy · daily	IN	Sep 28, 2026 +5.3%	Exit below C$75.90 (−2.2%)	25% 171/674	+0.6% / +11.2%	−67.7% / −48.3%
Bull Market Support BandBenjamin Cowen · weekly	IN	Sep 18, 2026 +6.0%	Exit below C$73.05 (−5.9%)	29% 32/112	+6.7% / +11.2%	−39.7% / −48.3%
Ripster EMA CloudRipster · daily	IN	Sep 30, 2026 +5.3%	Exit below C$74.79 (−3.6%)	20% 81/398	+3.8% / +11.2%	−44.6% / −48.3%
Trend TemplateMark Minervini · daily	IN	Oct 6, 2026 −4.2%	Exit below C$74.61 (−3.9%)	24% 34/144	+5.6% / +11.2%	−22.7% / −48.3%
Stage AnalysisStan Weinstein · weekly	IN	Oct 3, 2025 +58.3%	Exit below C$72.24 (−6.9%)	31% 21/68	+8.2% / +11.2%	−33.4% / −48.3%
Stage 2 + Mansfield RSStan Weinstein · weekly	IN	Jan 2, 2026 +40.4%	Exit below C$72.24 (−6.9%)	30% 26/88	+4.4% / +11.2%	−29.3% / −48.3%
10-Month SMAMeb Faber · month-end	IN	Feb 29, 2024 +129.7%	Exit below C$69.31 (−10.7%)	43% 13/30	+10.8% / +11.2%	−48.3% / −48.3%
200-Day RulePaul Tudor Jones · daily	IN	Sep 23, 2025 +64.3%	Exit below C$68.48 (−11.8%)	15% 21/142	+9.6% / +11.2%	−30.4% / −48.3%
Golden CrossMarket tradition · daily	IN	Feb 9, 2024 +137.4%	Not on one close	46% 13/28	+10.7% / +11.2%	−48.3% / −48.3%
Granville 200-DayJoseph E. Granville · daily	IN	Sep 23, 2025 +64.3%	Exit below C$68.48 (−11.8%)	23% 21/90	+10.2% / +11.2%	−30.4% / −48.3%
Hull Moving AverageAlan Hull · weekly	IN	Oct 9, 2026 −2.7%	Exit below C$68.87 (−11.3%)	34% 49/144	+5.4% / +11.2%	−28.8% / −48.3%
Kaufman Adaptive MAPerry J. Kaufman · daily	OUT	Oct 13, 2026 0.0%	Enter above C$77.78 (+0.2%)	23% 180/793	−0.2% / +11.2%	−68.6% / −48.3%
TEMA CrossoverPatrick G. Mulloy · daily	IN	Sep 24, 2026 +5.5%	Exit below C$57.01 (−26.5%)	33% 92/277	+4.1% / +11.2%	−40.4% / −48.3%
Seykota 15/150Ed Seykota · daily	IN	May 9, 2024 +113.8%	Not on one close	36% 8/22	+9.1% / +10.9%	−40.5% / −48.3%
Guppy Multiple MAsDaryl Guppy · daily	IN	Oct 6, 2026 −4.2%	Exit below C$65.58 (−15.5%)	32% 42/132	+6.0% / +11.2%	−33.3% / −48.3%
Ichimoku CloudGoichi Hosoda · daily	IN	Oct 6, 2026 −4.2%	Exit below C$74.47 (−4.0%)	27% 33/124	+6.5% / +11.2%	−29.6% / −48.3%
SupertrendOlivier Seban · daily	IN	Oct 6, 2026 −4.2%	Exit below C$75.28 (−3.0%)	38% 49/128	+5.8% / +11.2%	−47.9% / −48.3%
Williams AlligatorBill Williams · daily	IN	Oct 13, 2026 0.0%	Not on one close	40% 118/296	+5.9% / +11.2%	−39.3% / −48.3%
Vortex IndicatorEtienne Botes & Douglas Siepman · daily	IN	Sep 22, 2026 +5.8%	Exit below C$70.10 (−9.7%)	37% 202/542	+6.3% / +11.2%	−32.2% / −48.3%
AroonTushar S. Chande · daily	IN	Oct 5, 2026 +4.6%	Exit below C$69.88 (−10.0%)	38% 80/208	+7.6% / +11.2%	−39.2% / −48.3%
Parabolic SARJ. Welles Wilder Jr. · daily	OUT	Oct 13, 2026 0.0%	Enter above C$84.84 (+9.3%)	38% 186/489	+4.6% / +11.2%	−35.4% / −48.3%
ADX TrendJ. Welles Wilder Jr. · daily	OUT	Aug 6, 2026 +2.3%	Enter above C$86.86 (+11.9%)	35% 59/171	+3.6% / +11.2%	−25.0% / −48.3%
MACD Zero LineGerald Appel · daily	IN	Oct 5, 2026 +4.6%	Exit below C$60.06 (−22.6%)	29% 52/182	+7.5% / +11.2%	−32.1% / −48.3%
Zweig 4% ModelMartin Zweig · weekly	IN	Oct 2, 2026 +4.1%	Exit below C$76.57 (−1.3%)	40% 61/152	+5.1% / +11.2%	−34.1% / −48.3%
MAMA/FAMA CrossJohn F. Ehlers · daily	IN	Sep 24, 2026 +5.5%	Not on one close	32% 71/224	+6.0% / +11.2%	−37.8% / −48.3%
Schaff Trend CycleDoug Schaff · daily	IN	Jun 25, 2026 +6.5%	Not on one close	33% 78/237	+2.6% / +11.2%	−42.3% / −48.3%
Zero Lag EC CrossJohn F. Ehlers & Ric Way · daily	OUT	Aug 21, 2026 +5.1%	Not on one close	32% 47/147	+4.5% / +11.2%	−37.4% / −48.3%
DP Trend ModelCarl Swenlin & Erin Swenlin · daily	IN	Oct 6, 2026 −4.2%	Exit below C$55.63 (−28.3%)	32% 31/98	+7.4% / +11.2%	−36.1% / −48.3%
Elder Triple ScreenAlexander Elder · daily	OUT	Aug 7, 2026 +3.4%	Enter above C$80.00 (+3.1%)	31% 56/180	+2.4% / +11.2%	−37.1% / −48.3%
Holy GrailLinda Bradford Raschke & Larry Connors · daily	OUT	Mar 27, 2026 +15.7%	Not on one close	48% 28/58	+3.4% / +11.2%	−5.3% / −48.3%
Breakouts & channels
Four-Week RuleRichard Donchian · daily	IN	Oct 2, 2026 +4.1%	Exit below C$69.88 (−10.0%)	41% 48/116	+7.1% / +11.2%	−36.1% / −48.3%
Turtle System 1Richard Dennis & William Eckhardt · daily	IN	Oct 6, 2026 −4.2%	Exit below C$77.45 (−0.2%)	29% 41/140	+2.6% / +11.2%	−22.4% / −48.3%
Turtle System 2Richard Dennis & William Eckhardt · daily	IN	Oct 6, 2026 −4.2%	Exit below C$77.45 (−0.2%)	36% 33/92	+5.2% / +11.2%	−23.5% / −48.3%
Clenow TrendAndreas F. Clenow · daily	IN	Oct 6, 2026 −4.2%	Exit below C$76.12 (−1.9%)	36% 35/96	+6.9% / +11.2%	−20.9% / −48.3%
Darvas BoxNicolas Darvas · daily	IN	Oct 2, 2026 +4.1%	Exit below C$69.88 (−10.0%)	37% 41/110	+4.8% / +11.2%	−44.9% / −48.3%
Keltner ChannelChester W. Keltner & Linda Bradford Raschke · daily	IN	Oct 6, 2026 −4.2%	Exit below C$75.98 (−2.1%)	34% 44/130	+3.9% / +11.2%	−17.9% / −48.3%
Bollinger BreakoutJohn Bollinger · daily	IN	Oct 6, 2026 −4.2%	Exit below C$75.15 (−3.2%)	35% 70/202	+5.2% / +11.2%	−20.6% / −48.3%
Chandelier ExitChuck LeBeau · daily	OUT	Oct 13, 2026 0.0%	Enter above C$81.91 (+5.5%)	38% 67/175	+5.1% / +11.2%	−35.3% / −48.3%
Wilder Volatility SystemJ. Welles Wilder Jr. · daily	IN	Oct 2, 2026 +4.1%	Exit below C$74.10 (−4.5%)	40% 60/150	+7.0% / +11.2%	−39.2% / −48.3%
P&F Double TopA.W. Cohen & Thomas J. Dorsey · daily	IN	May 7, 2024 +118.3%	Exit below C$69.25 (−10.8%)	42% 16/38	+10.3% / +11.2%	−34.9% / −48.3%
Chande Kroll StopTushar S. Chande & Stanley Kroll · daily	OUT	Oct 13, 2026 0.0%	Enter above C$78.80 (+1.5%)	28% 83/299	+3.4% / +11.2%	−46.2% / −48.3%
Acceleration BandsPrice Headley · daily	OUT	Oct 13, 2026 0.0%	Not on one close	27% 42/154	+2.1% / +11.2%	−20.2% / −48.3%
TTM SqueezeJohn F. Carter · daily	IN	Oct 5, 2026 +4.6%	Exit below C$80.27 (+3.4%)	35% 51/145	+3.1% / +11.2%	−21.9% / −48.3%
NR7 BreakoutToby Crabel · daily	IN	Sep 28, 2026 +5.3%	Exit below C$72.93 (−6.0%)	32% 226/700	+1.4% / +11.2%	−58.7% / −48.3%
Bollinger SqueezeJohn Bollinger · daily	OUT	May 29, 2026 +14.9%	Not on one close	33% 16/48	+2.3% / +11.2%	−10.1% / −48.3%
Momentum
12-Month MomentumMoskowitz, Ooi & Pedersen · month-end	IN	Jul 31, 2024 +96.9%	Exit below C$53.07 (−31.6%)	56% 9/16	+11.5% / +11.2%	−48.3% / −48.3%
12-1 MomentumNarasimhan Jegadeesh & Sheridan Titman · month-end	IN	Jun 28, 2024 +116.4%	Not on one close	50% 9/18	+10.8% / +11.2%	−48.3% / −48.3%
Dual MomentumGary Antonacci · month-end	IN	Nov 28, 2025 +43.9%	Exit below C$59.01 (−24.0%)	58% 15/26	+7.7% / +11.2%	−48.3% / −48.3%
Stocks on the MoveAndreas F. Clenow · daily	IN	Sep 17, 2026 +6.0%	Exit below C$73.91 (−4.8%)	19% 33/170	+6.3% / +11.2%	−29.5% / −48.3%
52-Week HighThomas J. George & Chuan-Yang Hwang · month-end	IN	May 31, 2024 +113.4%	Exit below C$69.62 (−10.3%)	50% 6/12	+10.4% / +11.2%	−48.3% / −48.3%
Levy Relative StrengthRobert A. Levy · weekly	IN	Oct 9, 2026 −2.7%	Exit below C$75.56 (−2.6%)	29% 37/128	+3.4% / +11.2%	−32.4% / −48.3%
MACD Signal CrossGerald Appel · daily	IN	Sep 18, 2026 +6.0%	Exit below C$70.09 (−9.7%)	31% 144/464	+0.0% / +11.2%	−61.5% / −48.3%
Elder ImpulseAlexander Elder · daily	IN	Sep 28, 2026 +5.3%	Exit below C$76.85 (−1.0%)	29% 237/804	−0.2% / +11.2%	−72.2% / −48.3%
Know Sure ThingMartin J. Pring · daily	IN	Sep 22, 2026 +5.8%	Exit below C$47.25 (−39.1%)	33% 108/329	+1.4% / +11.2%	−53.8% / −48.3%
Coppock CurveEdwin S. C. Coppock · month-end	IN	Feb 29, 2024 +129.7%	Not on one close	55% 6/11	+11.0% / +10.4%	−48.3% / −48.3%
CCI +100Donald R. Lambert · daily	OUT	Oct 13, 2026 0.0%	Enter above C$80.54 (+3.8%)	28% 168/590	+3.3% / +11.2%	−31.9% / −48.3%
TRIX Signal CrossJack K. Hutson · daily	IN	Sep 23, 2026 +5.7%	Exit below C$21.95 (−71.7%)	36% 102/283	+3.5% / +11.2%	−47.2% / −48.3%
TSI Zero LineWilliam Blau · daily	IN	Oct 5, 2026 +4.6%	Exit below C$59.62 (−23.2%)	30% 53/178	+7.4% / +11.2%	−32.1% / −48.3%
13612W MomentumWouter J. Keller & Jan Willem Keuning · month-end	IN	Feb 29, 2024 +129.7%	Exit below C$72.33 (−6.8%)	39% 25/64	+11.1% / +11.2%	−24.1% / −48.3%
Market-State MomentumMichael J. Cooper, Roberto C. Gutierrez Jr. & Allaudeen Hameed · month-end	IN	Jun 28, 2024 +116.4%	Not on one close	44% 7/16	+7.4% / +9.6%	−48.3% / −48.3%
Frog in the PanZhi Da, Umit G. Gurun & Mitch Warachka · daily	IN	Nov 28, 2025 +43.9%	Not on one close	47% 15/32	+7.7% / +11.2%	−49.4% / −48.3%
PMO Signal CrossCarl Swenlin · daily	IN	Sep 23, 2026 +5.7%	Exit below C$63.81 (−17.8%)	29% 109/374	+2.0% / +11.2%	−53.7% / −48.3%
Mean reversion
RSI 30/70J. Welles Wilder Jr. · daily	OUT	Oct 27, 2025 +49.9%	Not on one close	64% 23/36	+4.6% / +11.2%	−37.5% / −48.3%
RSI(2) PullbackLarry Connors & Cesar Alvarez · daily	OUT	Sep 16, 2026 +7.4%	Buy C$68.48–C$76.00 (−2.1%)	58% 170/292	+1.8% / +11.2%	−44.9% / −48.3%
Double 7sLarry Connors & Cesar Alvarez · daily	OUT	Sep 22, 2026 +5.8%	Buy C$68.48–C$74.18 (−4.4%)	63% 240/382	+5.9% / +11.2%	−41.9% / −48.3%
Bollinger ReversionJohn Bollinger · daily	OUT	Sep 18, 2026 +6.0%	Buy below C$68.21 (−12.1%)	68% 130/192	+5.3% / +11.2%	−41.0% / −48.3%
Stochastic 20/80George C. Lane · daily	OUT	Sep 25, 2026 +6.3%	Not on one close	55% 72/131	+2.6% / +11.2%	−48.3% / −48.3%
Williams %RLarry Williams · daily	OUT	Sep 21, 2026 +6.3%	Not on one close	60% 158/264	+4.9% / +11.2%	−39.6% / −48.3%
DeMark 9-CountTom DeMark · daily	IN	Sep 2, 2026 +8.1%	Not on one close	55% 37/67	+5.8% / +11.2%	−40.3% / −48.3%
Mayer MultipleTrace Mayer · daily	IN	Nov 22, 2004 +925.3%	Sell above C$165.52 (+113.3%)	–	+11.2% / +11.2%	−48.3% / −48.3%
ConnorsRSI PullbackLarry Connors & Cesar Alvarez & Matt Radtke · daily	OUT	Oct 13, 2022 +123.5%	Buy below C$62.32 (−19.7%)	65% 13/20	+2.2% / +11.2%	−18.8% / −48.3%
Laguerre RSIJohn F. Ehlers · daily	OUT	Oct 6, 2026 −4.2%	Not on one close	48% 163/337	+6.8% / +11.2%	−48.1% / −48.3%
StochRSI 20/80Tushar S. Chande & Stanley Kroll · daily	OUT	Oct 5, 2026 +4.6%	Not on one close	54% 228/419	+6.3% / +11.2%	−48.1% / −48.3%
IBS ReversionAlexander S. Pagonidis · daily	IN	Oct 13, 2026 0.0%	Sell above C$77.61 (0.0%)	60% 1086/1811	+7.3% / +11.2%	−27.3% / −48.3%
Connors %bLarry Connors & Cesar Alvarez · daily	OUT	Oct 2, 2026 +4.1%	Not on one close	51% 46/90	+2.3% / +11.2%	−48.1% / −48.3%
Fisher TransformJohn F. Ehlers · daily	OUT	Oct 9, 2026 −2.7%	Enter above C$85.82 (+10.6%)	34% 373/1089	−0.7% / +11.2%	−73.6% / −48.3%
1-Month ReversalNarasimhan Jegadeesh & Bruce N. Lehmann · month-end	OUT	Sep 30, 2026 +5.3%	Buy below C$75.17 (−3.1%)	59% 81/137	+7.3% / +11.2%	−40.5% / −48.3%
Volume & money flow
On-Balance VolumeJoseph E. Granville · daily	IN	Sep 30, 2026 +5.3%	Not on one close	27% 219/801	+2.3% / +11.2%	−47.9% / −48.3%
Chaikin Money FlowMarc Chaikin · daily	OUT	Oct 8, 2026 −2.4%	Not on one close	37% 64/173	+8.3% / +11.2%	−33.2% / −48.3%
Money Flow IndexGene Quong & Avrum Soudack · daily	OUT	Oct 27, 2025 +49.9%	Not on one close	62% 26/42	+6.7% / +11.2%	−33.4% / −48.3%
Negative Volume IndexNorman Fosback & Paul Dysart · daily	IN	Oct 30, 2023 +144.8%	Exit below C$68.06 (−12.3%)	25% 34/134	+4.2% / +11.3%	−61.4% / −48.3%
Force IndexAlexander Elder · daily	IN	Sep 17, 2026 +6.0%	Exit below C$69.35 (−10.6%)	28% 213/750	+2.4% / +11.2%	−51.3% / −48.3%
Buff AveragesBuff Dormeier · daily	IN	Sep 22, 2026 +5.8%	Exit below C$47.72 (−38.5%)	35% 124/350	+5.0% / +11.2%	−40.8% / −48.3%
Chaikin OscillatorMarc Chaikin · daily	OUT	Oct 8, 2026 −2.4%	Not on one close	35% 187/535	+1.9% / +11.2%	−52.7% / −48.3%
Volume Flow IndicatorMarkos Katsanos · daily	OUT	Oct 13, 2026 0.0%	Not on one close	30% 35/115	+5.4% / +11.3%	−54.0% / −48.3%
Klinger OscillatorStephen J. Klinger · daily	OUT	Oct 9, 2026 −2.7%	Not on one close	36% 327/900	+4.7% / +11.2%	−54.4% / −48.3%
Candles & chart patterns
Engulfing SwitchSteve Nison & Thomas N. Bulkowski · daily	OUT	Sep 10, 2026 +7.3%	Not on one close	46% 78/169	+3.4% / +11.2%	−54.4% / −48.3%
HikkakeDaniel L. Chesler · daily	OUT	Aug 27, 2026 +5.2%	Enter above C$84.17 (+8.5%)	33% 32/96	+6.1% / +11.2%	−30.5% / −48.3%
Turtle Soup Plus OneLinda Bradford Raschke & Larry Connors · daily	OUT	Sep 20, 2023 +137.9%	Not on one close	38% 24/64	+0.0% / +11.2%	−30.9% / −48.3%
Calendar
Halloween IndicatorSven Bouman & Ben Jacobsen & Yale Hirsch & Jeffrey Hirsch · daily	OUT	Apr 30, 2026 +15.6%	Buys Oct 30	56% 24/43	+7.7% / +11.2%	−48.3% / −48.3%
Best Six + MACDYale Hirsch & Jeffrey Hirsch · daily	OUT	Apr 1, 2026 +15.9%	Not on one close	56% 24/43	+7.3% / +11.2%	−48.3% / −48.3%
Seasonal TimingSy Harding · daily	OUT	Apr 20, 2026 +17.7%	Window opens Oct 16	56% 24/43	+6.7% / +11.2%	−48.3% / −48.3%
Santa Claus RallyYale Hirsch & Jeffrey Hirsch · daily	OUT	Jan 5, 2026 +41.3%	Buys Dec 23	36% 16/44	+1.9% / +11.2%	−5.6% / −48.3%
Turn of the MonthJosef Lakonishok & Seymour Smidt & Robert A. Ariel · daily	OUT	Oct 5, 2026 +4.6%	Buys Oct 29	52% 273/526	+5.2% / +11.2%	−27.3% / −48.3%
Presidential Sweet SpotYale Hirsch & Jeffrey Hirsch · daily	IN	Sep 30, 2026 +5.3%	Sells Jun 30	27% 3/11	+3.8% / +11.2%	−23.6% / −48.3%
Pre-HolidayRobert A. Ariel & Josef Lakonishok & Seymour Smidt · daily	OUT	Sep 4, 2026 +6.6%	Buys Nov 24	49% 189/386	+2.0% / +11.2%	−11.8% / −48.3%
January BarometerYale Hirsch & Jeffrey Hirsch · month-end	IN	Dec 30, 2022 +114.2%	Not on one close	60% 12/20	+9.6% / +11.2%	−29.4% / −48.3%
Weekend EffectKenneth French & Josef Lakonishok & Seymour Smidt · daily	IN	Oct 13, 2026 0.0%	Sells Oct 16	51% 1155/2284	+6.2% / +11.2%	−36.1% / −48.3%
Pre-FOMC DriftDavid Lucca & Emanuel Moench · daily	OUT	Sep 16, 2026 +7.4%	Buys Oct 27	47% 162/348	+2.3% / +11.2%	−11.9% / −48.3%
Lunar CycleKathy Yuan, Lu Zheng & Qiaoqiao Zhu · daily	IN	Oct 2, 2026 +4.1%	Sells Oct 16	53% 285/541	+9.0% / +11.2%	−32.5% / −48.3%
Benchmark
Buy & HoldJohn C. Bogle · benchmark	IN	Jan 4, 2005	Always in	–	+11.2%	−48.3%

If the market cracks: the storm test

How the storm test works

ExposureModerate3 of 10 points

Market swings0/3
Past crashes0/2
Debt3/3
Run-up0/2

It carries 2.9× as much debt as equity.
It operating profit covers interest only 1.7×.

Past crashes, peak to low

Financial crisis Oct 2007 to Feb 2009 · back to its old high Nov 2010

ACO.X−41%

TSX−47%

COVID crash Feb 2020 to Mar 2020 · back to its old high Aug 2024

ACO.X−48%

TSX−37%

2022 bear market Jan 2022 to Jan 2022 · back to its old high Jan 2022

ACO.X−5%

TSX−14%

Beta0.23Moves about 0.2× as much as the TSX week to week.
Downside capture−77%In months the TSX fell, this fell -77% as much on average (it often rose anyway).
Two-year change+74%Run-ups of 100%+ crashed 40% or more within two years about half the time (Greenwood, Shleifer & You).
From 52-week high−5%
Debt to equity2.87×
Net debt / EBITDA5.8×Years of operating cash earnings it would take to pay off its debt.
Interest cover1.7×

A crash marks every stock down; debt decides which companies come through. The storm test scores both halves: how hard the stock swings with the market, and how much debt it carries into a downturn. It describes fragility; it does not predict a crash.

The business behind the price

How to judge these numbers

Utilities - Diversified · ATCO Ltd., together with its subsidiaries, engages in the energy, logistics and transportation, shelter, and real estate services in Canada, Australia, and internationally. The company engages in electricity and natural gas transmission and distribution, and international electricity operations; energy storage, electricity generation, storage and industrial water solutions, and clean fuels; and electricity and natural gas retail sales, and home maintenance solutions.

Size and valuation
Market cap	C$7.8B	What the whole company is worth at today's price: share price × shares outstanding.
Revenue (last 12 months)	C$5.3B	Total sales. The market values it at 1.5× sales.
P/E ratio	48.5×	Buyers pay C$49 for each C$1 of the last year's profit.
Forward P/E	15.0×	Price against analysts' estimate of next year's profit. Lower than the P/E means profit is expected to grow.
Price to book	1.8×	Price against the company's net assets (its equity) per share.

Profit and growth
Profit margin	3.4%	Keeps 3¢ of each dollar of sales as profit.
Revenue growth	+13.9%	Last quarter's sales against the same quarter a year earlier.
Earnings growth	+37.1%	Same comparison for profit.
Return on equity	3.4%	Yearly profit as a share of shareholders' money in the business.
Free cash flow	−C$283M	Burning cash: needs savings or new money to keep going.

Balance sheet
Total equity	C$4.5B	What it owns minus what it owes.
Total debt	C$13.0B	Loans and bonds it has to pay back, with interest.
Cash	C$991M	Cash and short-term investments on hand.
Debt to equity	2.87×	Above about 1.5× is heavily borrowed; above 3× is fragile in a downturn.
Interest cover	1.7×	Operating profit divided by interest. Under 2× means one bad year could make the interest hard to pay.

Wall Street
Average analyst target	C$91.00	17% above the close, from 5 analysts (range C$85.00 to C$98.00).
Consensus rating	Buy	Analysts' average recommendation. Ratings lean positive: sell ratings are rare.
Dividend yield	2.61%	Yearly dividends as a share of the price.

Company figures from Yahoo Finance, fetched Oct 14, 2026. Analyst targets are opinions, not forecasts Be The Puck checks.

Reports for Be The Puck Members.

ACO.X: the briefWhat the plays, the levels and the business say, in plain English. Rebuilt nightly.Members Energy & power: what the plays sayEvery covered name in the sector, side by side.Members Debt decides who survives a crashThe storm test on every covered stock.Members Is this a bubble?The gauges in October 2026, and what history says about timing.Members

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