RY 169.88 -1.0542% SHOP 144.59 -0.959% TD 77.85 -0.1667% ENB 59.62 -0.5505% BN 78.53 -0.971% TRI 223.92 -0.2495% CNQ 47.03 -0.0213% CP 102.49 -0.5627% CNR 147.77 -0.8787% BMO 131.32 -0.0685% BNS 78.4 0.0255% CSU 4463.7002 0.6222% CM 90.42 0.6344% MFC 44.91 -1.3184% ATD 77.0 -0.7604% NGT 60.01 -0.4149% TRP 68.0 -2.2989% SU 56.965 -0.4282% WCN 260.14 -0.653% L 176.45 0.7135%

CA Technical Analysis Report

S&P/TSX Composite index edged higher, One TSX-listed stock to consider at the current levels- EPRX

Jul 30, 2024

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

Company Overview: Eupraxia Pharmaceuticals Inc. (TSX: EPRX) is positioning itself at the cutting edge of drug delivery innovation. By concentrating on locally delivered, extended-release formulations, the company aims to transform how existing pharmaceuticals are administered, enhancing both efficacy and patient compliance. This Report covers the Price Action, Technical Indicators Analysis along with the Stop Loss Levels, Target Prices, and Recommendation on this one stock.

 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 124.42 points (0.55%) to 22814.81 for the week ending July 26, 2024. On July 29, 2024, the index closed at 22779.57, down by 35.24 points or ~0.15%. Basic Materials, Consumer Cyclicals, and Industrials were the leading sectors, While Technology, Utilities, Financials, Real Estate, Energy Healthcare, and  Consumer Non-Cyclicals were the lagging sectors on Monday. As per the data published by Statistics Canada, the Canadian payroll employment in retail trade increased by 4,500 (+0.2%) in May. The weekly chart indicates that the index prices are trading above the horizontal trendline support zone. Moreover, prices are sustaining above the 21-period, which may act as a support level for the index. The immediate resistance for the index is around 23350, while the immediate support exists at 22150 On the weekly time frame, RSI is reading at ~66.80 levels.

On the macro front, the upcoming major economic events that may impact the Canadian market sentiment include CA GDP m/m, US FOMC Statement and US Unemployment Claims.

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