RY 168.02 -0.2138% TD 84.54 0.583% SHOP 98.44 1.6522% CNR 161.44 -0.4686% ENB 55.37 0.7093% CP 117.35 -0.4074% BMO 116.29 0.5969% TRI 234.8 -0.5% CNQ 43.4 -2.0316% BN 67.06 0.8573% ATD 75.0 -1.1467% CSU 4286.48 0.3286% BNS 70.72 0.6834% CM 83.49 0.9675% SU 49.53 0.4462% TRP 63.27 1.1187% NGT 73.0 1.5299% WCN 252.39 -0.095% MFC 38.15 0.58% BCE 48.11 0.4594%
Company Overview: Hut 8 Corp. (TSX: HUT) is a prominent player in the Bitcoin mining sector, specializing in the extraction of digital assets. The company operates as a significant cryptocurrency miner and offers a range of services including digital asset mining, hosting, and managed infrastructure operations. EMX Royalty Corp. (TSXV: EMX) and its subsidiaries operate as a royalty and prospect generator engaged in exploring for and generating royalties from, metals and minerals 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 last week on a positive note and maintained a bullish momentum for the entire week. The S&P/TSX composite index advanced by 743.31 points (3.33%) to 23054.61 for the week ending August 16, 2024. On August 19, 2024, the index closed at 23116.61, up by 61.78 points or ~0.27%. Basic Materials, Technology, Financials, Real Estate, Industrials, and Consumer Cyclicals were the leading sectors, While Energy, Healthcare, Utilities, and Consumer Non-Cyclicals were the lagging sectors on Monday. As per the data published by Statistics Canada, Canadian manufacturing sales decreased 2.1% to $69.6 billion in June. 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 23650, while the immediate support exists at 22350. On the weekly time frame, RSI is reading at ~66.18 levels.
On the macro front, the upcoming major economic events that may impact the Canadian market sentiment include CA CPI m/m, CA Retail Sales m/m and U.S Unemployment Claims.
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