RY 172.7 -0.1792% SHOP 152.38 -3.7762% TD 74.49 -0.4144% ENB 58.66 0.2906% BN 80.21 0.2124% TRI 235.76 -0.7034% CNQ 42.27 -1.3305% CP 102.81 -2.4851% CNR 145.02 -0.9426% BMO 139.15 0.5855% BNS 77.045 -0.149% CSU 4497.2998 0.6756% CM 92.23 -0.335% MFC 43.28 0.8858% ATD 79.0 -1.1882% NGT 53.35 -1.8038% TRP 65.26 0.215% SU 49.61 -1.411% WCN 251.65 -0.2181% L 191.14 0.1205%

CA Technical Analysis Report

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

Aug 27, 2024

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

Company Overview: Homerun Resources Inc. (TSXV: HMR) is dedicated to exploring and developing projects in the critical elements and energy metals sectors. Their focus on these key areas reflects a commitment to advancing the production of minerals essential for modern technology and sustainable energy solutions.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 gained by 231.47 points (1.00%) to 23286.08 for the week ending August 23, 2024. On August 26, 2024, the index closed at 23348.97, up by 62.89 points or ~0.27%. Energy, consumer cyclicals, real estate, financials, industrials, utilities and consumer non-cyclicals, were the leading sectors, while healthcare and technology were the lagging sectors on Monday. As per the data published by Statistics Canada,  Canadian retail sales decreased 0.3% to $65.7 billion in June. The weekly chart indicates that the index prices are trading above the horizontal trendline support zone. Moreover, prices are sustaining above the 50-period, which may act as a support level for the index. The immediate resistance for the index is around 23860, while the immediate support exists at 22750 On the weekly time frame, RSI is reading at ~68.35 levels.

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

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