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%
Company Overview: Finning International Inc. (TSX: FTT) is a dealer and distributor of heavy-duty machinery and parts and operates through the Caterpillar brand. It sells and rents Caterpillar machinery to the mining, construction, petroleum, forestry, and power system application industries. Mattr Corp., (TSX: MATR) formerly Shawcor Ltd., is a global material technology company serving critical infrastructure markets, including electrification, transportation, communication, water management and energy. 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 negative note and maintained a bearish momentum for the entire week. The S&P/TSX composite index declined by 83.70 points (0.40%) to 20906.52 for the week ending January 19, 2024. On January 22, 2024, the index closed at 20924.30, up by 17.78 points or ~0.09%. Real Estate, Consumer Cyclicals, Healthcare, and Financials were the leading sectors, While Industrials, Consumer Non-Cyclicals, Utilities, Technology, Basic Materials, and Energy were the lagging sectors on Monday. As per the data published by Statistics Canada, Canadian retail sales decreased 0.2% to $66.6 billion in November. 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 SMA, which may act as a support level for the index. The immediate resistance for the index is around 21750 while the immediate support exists at 20300. On the weekly time frame, RSI is reading at ~59.09 levels.
On the macro front, the upcoming major economic events that may impact the Canadian market sentiment include CA BOC Rate Statement, U.S Advance GDP q/q and U.S Unemployment Claims.
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