Anterix Inc.

Anterix Inc. (NASDAQ: ATEX) is a wireless communications company focused on commercializing its spectrum assets to enable its targeted utility and critical infrastructure customers.

Technical Observation

ATEX's prices are sustaining below an upward sloping trend line breakout level for the past couple of sessions, indicating the possibility of a downside movement. The leading indicator RSI (14-period) is moving southward and showing a reading of ~37.82. The CMP is below the trend-following indicators 21-period SMA and 50-period SMA, supporting a negative bias.

Wajax Corp

Wajax Corp (TSX: WJX) is a Canada-based distributor engaged in the sale and service support of mobile equipment, power systems and industrial components.

Technical Observation

WJX's prices are sustaining above a downward sloping trend line and recently started to move upside after taking the support of the same trend line, indicating the possibility of an upside direction. The leading indicator RSI (14-period) is moving above the midpoint with a reading of 65.52. The CMP is above the trend-following indicators 21-period SMA and 50-period SMA and may support the positive direction.

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Related Risks: This report may be looked at from a high-risk perspective and recommendations are provided only for day trading purposes. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political

instability risks etc.

Note 1: Entry Range: For the given recommendation(s), the Entry Range is based on considering a certain range (0.5% - 2%) above (in speculative buy case) or below (in sell case) of the previous day close price. A recommendation will be considered void if the prices do not test the given range levels for the particular day.

Note 2: This report's recommendation(s) is purely for day trading purpose and position(s) will be considered closed automatically at the close price of the day in case no target or stop loss level is hit. It is advisable to follow the targets and stop-loss levels strictly and exit the position accordingly, as it may lead to limitless loss if the position is not taken care of with due diligence.

How to Read the Charts?

The Green colour line reflects the 21-period moving average, while the red line indicates the 50- period moving average. SMA helps to identify existing price trends. If the prices are trading above the 21-period and 50-period moving averages, then it shows prices are currently trading in a bullish trend. 

The Black colour line in the chart’s lower segment reflects the Relative Strength Index (14-Period), which indicates the strength of the price trend. A reading above 50 indicates a positive momentum, while below 50 indicates a negative momentum. A reading of 70 or above suggests overbought status, while a reading of 30 or below suggests an oversold status. 

The Blue colour bars in the chart’s lower segment show the volume of the stock. The volume is the number of shares that changed hands during a given day. Stocks with high volumes are more liquid than stocks with lesser volumes, and higher liquidity in stocks helps in easier and faster execution of the order. 

The Orange colour lines are the trend lines drawn by connecting two or more price points and are used for trend identification purposes. The trend lines also act as a line of support and resistance. 

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.

The reference date for all price data, currency, technical indicators, support, and resistance levels is February 15, 2023. The reference data in this report has been partly sourced from REFINITIV.

Abbreviations

CMP: Current Market Price

SMA: Simple Moving Average

RSI: Relative Strength Index

USD: United States dollar

Note: Trading decisions require a thorough analysis by individuals. The technical analysis reports generally chart out metrics that individuals may assess before any stock evaluation. The above are illustrative analytical factors used for evaluating the stocks; other parameters can be looked at along with additional risks per se. Past performance is neither an indicator nor a guarantee of future performance.

Disclaimer 

The advice given by Kalkine Canada Advisory Services Inc. and provided on this website is general information only and it does not take into account your investment objectives, financial situation and the particular needs of any particular person. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. The website www.kalkine.ca is published by Kalkine Canada Advisory Services Inc. The link to our Terms & Conditions has been provided please go through them. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations later.