RY 172.7 -0.1792% SHOP 152.38 -3.7762% TD 74.49 -0.4144% ENB 58.66 0.2906% BN 80.21 0.2124% TRI 235.76 -0.7034% CNQ 42.27 -1.3305% CP 102.81 -2.4851% CNR 145.02 -0.9426% BMO 139.15 0.5855% BNS 77.045 -0.149% CSU 4497.2998 0.6756% CM 92.23 -0.335% MFC 43.28 0.8858% ATD 79.0 -1.1882% NGT 53.35 -1.8038% TRP 65.26 0.215% SU 49.61 -1.411% WCN 251.65 -0.2181% L 191.14 0.1205%

CA Technical Analysis Report

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

Jul 02, 2024

HIVE:TSX-V
Investment Type
Small-Cap
Risk Level
Action
Rec. Price (CA$)
PTK:TSX-V
Investment Type
Small-Cap
Risk Level
Action
Rec. Price (CA$)

Company Overview: HIVE Digital Technologies Ltd. (TSXV: HIVE) engages in building a bridge from the block chain sector to traditional capital markets. It provides digital asset mining, hosting, and managed infrastructure operation services. POET Technologies Inc (TSXV: PTK) is a Canada-based design and development company specializing in integration solutions. The company offers solutions based on the POET Optical Interposer, a platform enabling the integration of electronic and photonic devices into a single multi-chip module. 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 last week on a positive note and maintained a bullish momentum for the entire week. The S&P/TSX composite index advanced by 320.93 points (1.49%) to 21875.79 for the week ending June 28, 2024. Real Estate, Consumer Cyclicals, and Financials were the leading sectors, While Consumer Non-Cyclicals, Industrials, Energy, Basic Materials, Utilities, Healthcare, and Technology were the lagging sectors on Friday.  As per the data published by Statistics Canada, Canadian real gross domestic product (GDP) grew 0.3% in April. The weekly chart indicates that the index prices are trading above the horizontal trendline support 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 22450, while the immediate support exists at 21200. On the weekly time frame, RSI is reading at ~55.12 levels.

On the macro front, the upcoming major economic events that may impact the Canadian market sentiment include CA Employment Change, U.S Non-Farm Employment Change and U.S Unemployment Claims.

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