RY 134.09 -0.0373% TD 80.93 -0.3325% SHOP 98.33 0.8823% CNR 169.88 -0.8% ENB 48.93 -0.0613% CP 111.145 -0.4345% BMO 124.32 0.0724% TRI 209.41 -0.7865% CNQ 106.72 0.1878% BN 56.02 0.1072% ATD 77.81 0.0772% CSU 3609.02 -0.7147% BNS 63.43 -0.2986% CM 64.865 -0.7725% SU 54.13 0.4826% TRP 49.15 -0.3043% NGT 58.32 -0.1028% WCN 226.01 1.1004% MFC 32.39 0.9978% BCE 44.76 0.3813%

CA Technical Analysis Report

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

Apr 09, 2024

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

Company Overview: Labrador Iron Ore Royalty Corporation (TSX: LIF) engages in mining for iron ore.  It operates through the Uranium and Fuel Services segments. Integra Resources Corp. (TSXV:ITR) a development stage company that engages in the acquisition, exploration, and development of mineral resource interests in the Americas. 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 97.35 points (0.44%) to 22264.38 for the week ending April 05, 2024. On April 08, 2024, the index closed at 22260.30, down by 4.08 points or ~0.02%. Industrials, Real Estate, Utilities, and Financials were the leading sectors, While Basic Materials, Technology, Energy, Consumer Cyclicals, Consumer Non-Cyclicals, and Healthcare were the lagging sectors on Monday. As per the data published by Statistics Canada, Canadian unemployment rate rose 0.3 percentage points to 6.1% 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 22760 while the immediate support exists at 21560. On the weekly time frame, RSI is reading at ~73.03 levels.

On the macro front, the upcoming major economic events that may impact the Canadian market sentiment include CA BOC Rate Statement, US CPI m/m and U.S Unemployment Claims.

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