RY 144.17 0.4529% TD 77.39 0.0517% SHOP 78.87 -1.3878% CNR 171.64 0.5625% ENB 50.09 -0.4769% CP 110.62 0.6277% BMO 128.85 -0.548% TRI 233.58 1.1563% CNQ 103.29 -0.174% BN 60.87 -0.2295% ATD 75.6 -1.447% CSU 3697.0 1.1582% BNS 65.76 -0.3485% CM 66.6 -0.5525% SU 54.21 1.1569% TRP 53.15 0.3398% NGT 58.54 -0.3405% WCN 226.5 0.4123% MFC 35.905 0.9986% BCE 46.75 -0.5954%

CA Technical Analysis Report

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

May 07, 2024

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

Company Overview: Uranium Royalty Corp. (TSX: URC) is focused on gaining exposure to uranium prices by making investments in uranium interests, including royalties, streams, debt, and equity investments in uranium companies, and through holdings of physical uranium. The company operates in a single segment, the investment in a portfolio of uranium interests. 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 negative note and maintained a bearish momentum for the entire week. The S&P/TSX composite index declined by 21.83 points (0.10%) to 21947.41 for the week ending May 03, 2024. On May 06, 2024, the index closed at 22259.47, up by 312.06 points or ~1.42%. Real Estate, Industrials, Consumer Cyclicals, Basic Materials, Technology, Consumer Non-Cyclicals, Utilities, Financials and Energy were the leading sectors, While Healthcare was the lagging sector on Monday. As per the data published by Statistics Canada, Canadian real gross domestic product (GDP) increased 0.2% in February. The weekly chart indicates that the index prices are trading near the horizontal trendline resistance zone. However, 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 22750, while the immediate support exists at 21850. On the weekly time frame, RSI is reading at ~67.83 levels.

On the macro front, the upcoming major economic events that may impact the Canadian market sentiment include CA Ivey PMI, US Advance GDP q/q and U.S Prelim UoM Consumer Sentiment.

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