RY 139.14 0.5492% TD 75.13 0.4412% SHOP 105.68 3.7502% CNR 172.48 2.0773% ENB 50.14 0.8245% CP 111.43 2.145% BMO 127.18 1.9152% TRI 228.41 1.3714% CNQ 103.87 1.7336% BN 59.7 2.3838% ATD 75.25 0.3467% CSU 3750.01 3.0786% BNS 64.82 1.0759% CM 66.11 0.9159% SU 53.13 1.6648% TRP 51.39 -0.0972% NGT 56.61 1.7434% WCN 227.64 1.3355% MFC 33.42 1.7042% BCE 45.86 -0.2176%

CA Technical Analysis Report

S&P/TSX Composite index edged higher, 2 TSX-listed stocks to consider at the current levels- DNTL and FOM

Feb 20, 2024

DNTL:TSX
Investment Type
Small-Cap
Risk Level
Action
Rec. Price (CA$)
FOM:TSX
Investment Type
Small-Cap
Risk Level
Action
Rec. Price (CA$)

Company Overview: dentalcorp Holdings Ltd. (TSX: DNTL) through its subsidiaries, acquires and partners with dental practices to provide health care services in Canada. Foran Mining Corp. (TSX: FOM) engages in the acquisition, exploration, and development of mineral resource properties. This Report covers the Price Action, Technical Indicators Analysis along with the Stop Loss Levels, Target Prices, and Recommendations on these two stocks.

Canada Market Round-Up

The benchmark S&P/TSX Composite Index (TSX: ^TSX) started the last week on a positive note and maintained a bullish momentum for the entire week. The S&P/TSX composite index advanced by 246.01 points (1.17%) to 21255.61 for the week ending February 16, 2024. Industrials, Consumer Cyclicals, Consumer Non-Cyclicals, Healthcare, Utilities, Basic Materials, Energy, and Financials were the leading sectors, While Technology and Real Estate were the lagging sectors on Friday. As per the data published by Statistics Canada, Canadian IPPI edged down 0.1% month over month in January. The weekly chart indicates that the index prices are trading above the falling trendline resistance zone. Moreover, prices are sustaining above the 21-period & 50-period SMAs, which may act as a support level for the index. The immediate resistance for the index is around 21670 while the immediate support exists at 20700. On the weekly time frame, RSI is reading at ~62.22 levels.

On the macro front, the upcoming major economic events that may impact the Canadian market sentiment include US CPI m/m, US Flash Services PMI and U.S Unemployment Claims.

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