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US Technical Analysis Report

One NASDAQ Listed- Bitcoin Mining Stock Poised for Upside as Russell 3000 Edged Lower– HIVE

Nov 15, 2024

HIVE:NASDAQ
Investment Type
Small-Cap
Risk Level
Action
Rec. Price (US$)

Company Overview:  HIVE Digital Technologies Ltd. (NASDAQ: HIVE) is a Canada-based cryptocurrency mining company that focus on sustainable green energy. The Company is engaged in building a bridge between the digital currency and blockchain sector and traditional capital markets. This Report covers the Price Action, Technical Indicators Analysis along with the Target Levels, Stop Loss, Support Levels, Resistance Levels, and Recommendation on stock.

US Markets Round-Up

This week, the Russell 3000 index, an important benchmark of the US stock market across market capitalizations, started the week on a positive note and continued the momentum. The index made high of 3401.01 during the week and settled at 3404.90 with a week-to-date (WTD) loss         of ~0.81 percent on Nov 14, 2024. Other major indices, such as S&P 500 and NASDAQ Composite displayed downside move for the week. On Nov 14, 2024, the S&P 500 index settled at 5949.16 with a WTD loss of ~ 0.77 percent, while the NASDAQ Composite Index settled at 19107.65 with a WTD loss of ~0.92 percent.  

Having understood the US market performance over the week, taking cues from major global news, and based on technical analysis of the Russell 3000 index for the upcoming week, now let’s have a look at the one US-listed stock to pick from the technical standpoint. Noted below recommendation is based on the entry price, target prices, and stop-loss for HIVE Digital Technologies Ltd. (NASDAQ: HIVE) for the next 2-4 weeks duration: 

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