RY 139.89 0.8943% TD 76.9 1.2242% SHOP 86.16 -18.5248% CNR 172.89 0.5818% ENB 51.15 1.1269% CP 112.14 0.5199% BMO 127.56 0.9816% TRI 229.43 0.1528% CNQ 105.96 1.0105% BN 60.44 0.683% ATD 75.02 0.4015% CSU 3820.47 1.7341% BNS 65.64 1.4685% CM 66.73 1.3364% SU 53.67 0.4304% TRP 52.0 1.069% NGT 57.07 0.3693% WCN 227.19 0.0528% MFC 33.6 0.9919% BCE 46.16 0.5445%

CA Technical Analysis Report

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

Dec 18, 2023

Company Overview: HIVE Digital Technologies Ltd. (TSXV: HIVE) engages in building a bridge from the block chain sector to traditional capital markets. 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 the last week on a positive note and maintained a bullish momentum for the entire week. The S&P/TSX composite index gained by 197.61 points (0.98%) to 20529.15 for the week ending December 15, 2023. On December 18, 2023, the index closed at 20622.71, up by 93.56 points or ~0.46%. Industrials, Consumer Cyclicals, Basic Materials, Consumer Non-Cyclicals, Energy, and Financials were the leading sectors, While Real Estate, Healthcare, Utilities, and Technology were the lagging sectors on Monday. As per the data published by Statistics Canada, Canadian investment in building construction rose 2.7% to $19.4 billion in October. The weekly chart indicates that the index prices are trading below 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 21000, while the immediate support exists at 20000. On the weekly time frame, RSI is reading at ~56.96 levels.

On the macro front, the upcoming major economic events that may impact the Canadian market sentiment include CA CPI m/m, US Final GDP q/q, and US Initial Jobless Clm. 

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