RY 156.04 -0.032% TD 79.81 -0.4615% SHOP 99.81 0.9303% CNR 158.79 0.6401% ENB 53.84 0.4478% CP 111.87 0.8019% BMO 112.71 0.7419% TRI 225.62 0.396% CNQ 50.46 2.4777% BN 67.8 1.194% ATD 76.93 -1.0674% CSU 4321.5298 0.3257% BNS 67.27 1.3102% CM 78.76 1.5603% SU 54.66 -1.1037% TRP 62.42 1.2162% NGT 70.54 0.2558% WCN 251.32 0.3153% MFC 36.65 -0.0818% BCE 47.21 0.3187%

CA Technical Analysis Report

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

May 21, 2024

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

Company Overview: Hut 8 Corp. (TSX: HUT) is a data mining company and it provides the infrastructure and solutions in the global technology ecosystem. The Company is engaged in Bitcoin mining and hosting, managed services, energy arbitrage, operating traditional data canters, and utilizing emerging technologies, such as artificial intelligence (AI) and machine learning. Vizsla Silver Corp. (TSXV: VZLA) engages in the exploration, and development of precious and base metal assets. The company explores for gold, silver, and copper deposits.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 156.44 points (0.70%) to 22465.37 for the week ending May 17, 2024. Energy Industrials, Basic Materials, Technology, Consumer Non-Cyclicals, and Financials were the leading sectors, While Utilities Consumer Cyclicals, Real Estate, and Healthcare were the lagging sectors on Friday. As per the data published by Statistics Canada, Canadian investment in building construction increased 4.5% to $20.4 billion in March. The weekly chart indicates that the index prices are trading above the horizontal 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 22000, while the immediate support exists at 21000. On the weekly time frame, RSI is reading at ~67.11 levels.

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