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CIBC Capital Markets chief market technician Sid Mokhtari’s list of top 10 stocks for February 2026 includes several new additions from Canada’s oil and gas, and materials sectors.
January was a nail-biter for Canada’s main stock index. The S&P/TSX Composite index (^GSPTSE) spent most of the month climbing to new highs. Then on Jan. 30, it collapsed by more than 1,000 points.
Generally speaking, technical analysis uses data like historical prices, trading volume, and moving averages to predict stock movements. This differs from fundamental analysis, which relies on financial statements and economic data to determine a stock’s value.
Every month, Mokhtari and his team at CIBC Capital Markets publish a top 10 list of Canadian stocks selected by their “trending-spotting matrix process.” For February, their basket of picks includes nine new selections, and one carry-over from January.
“On the seasonal front, historically over the long term, February has been one of the weaker months of the year (second-weakest, followed by September as the weakest),” Mokhtari wrote in his latest report.
“Our seasonally adjusted relative-strength and breadth work shows that the energy sector typically begins to outperform in late-February (lasting well into April) and helps TSX over SPX relatively.”
From Canada’s energy sector, CIBC Capital Markets added Suncor Energy (SU.TO), Whitecap Resources (WCP.TO), and Peyto Exploration & Development (PEY.TO).
New stocks this month also include two from the financials sector: Bank of Montreal (BMO.TO), and IGM Financial (IGM.TO).
CIBC also added three new stocks from the materials sector: Methanex (MX.TO), NGEx Minerals (NGEX.TO), and Orla Mining (OLA.TO).
Saskatoon-based fertilizer giant Nutrien (NTR.TO) is a carry-over from January’s list.
Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on X @jefflagerquist.