RY 133.62 0.2325% TD 80.66 0.3608% SHOP 96.69 -2.3432% CNR 170.96 1.5503% ENB 49.46 1.228% CP 112.45 0.196% BMO 126.9 -0.2672% TRI 208.55 -0.2583% CNQ 106.0 0.5406% BN 54.95 -1.0267% ATD 77.31 -0.3609% CSU 3649.3 -1.2892% BNS 63.12 -1.5596% CM 64.92 -0.3683% SU 54.025 0.4369% TRP 49.43 0.5288% NGT 59.66 12.8428% WCN 226.31 -0.593% MFC 31.94 -0.6532% BCE 44.92 -0.817%

CA Technical Analysis Report

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

Mar 26, 2024

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

Company Overview: Vermilion Energy Inc. (TSX: VET) is an international oil and gas producing company. It engages in full-cycle exploration and production programs that focus on the acquisition, exploration, development, and optimization of producing properties in North America, Europe, and Australia. HIVE Blockchain Technologies Ltd. (TSXV: HIVE) is in the business of providing infrastructure solutions in the blockchain industry, including the mining of digital currencies. Its projects include Iceland Cryptocurrency Mining Project. 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 134.93 points (0.62%) to 21984.08 for the week ending March 22, 2024. On March 25, 2024, the index closed at 21942.28, down by 41.80 points or ~0.19%. Energy and Consumer Non-Cyclicals were the leading sectors, While Basic Materials, Real Estate, Utilities, Financials, Technology, Industrials, Consumer Cyclicals, and Healthcare were the lagging sectors on Monday. As per the data published by Statistics Canada, Canadian retail sales decreased 0.3% to $67.0 billion in January. 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 22300 while the immediate support exists at 21250. On the weekly time frame, RSI is reading at ~69.24 levels.

On the macro front, the upcoming major economic events that may impact the Canadian market sentiment include CA GDP m/m, US Revised UoM Consumer Sentiment and U.S Unemployment Claims.

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