RY 174.21 0.4845% TD 77.21 -0.3099% SHOP 113.1 0.5155% CNR 157.51 -1.1299% ENB 57.59 0.1565% CP 112.08 -0.5678% BMO 129.49 0.3332% TRI 232.87 0.7921% CNQ 49.045 1.1654% BN 76.23 1.3023% ATD 73.74 -0.6066% CSU 4426.6099 0.3812% BNS 73.69 -0.1896% CM 86.29 0.4657% SU 53.56 0.7714% TRP 65.64 0.845% NGT 78.23 1.1246% WCN 250.66 0.2239% MFC 42.08 -0.1898% BCE 46.14 0.2172%
Company Overview: HIVE Digital Technologies Ltd. (TSXV: HIVE) engages in building a bridge from the block chain sector to traditional capital markets. It provides digital asset mining, hosting, and managed infrastructure operation services. Neo Performance Materials Inc. (TSX: NEO) is engaged in the innovation, development, processing, and manufacturing of rare earth and rare metal-based functional materials. Its operating segments include Magnequench, Chemicals & Oxides, Rare Metals, and Corporate. 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 last week on a negative note and maintained a bearish momentum for the entire week. The S&P/TSX composite index declined by 262.12 points (1.18%) to 22007.00 for the week ending June 07, 2024. On June 10, 2024, the index closed at 22069.76, up by 62.76 points or ~0.28%. Healthcare, Real Estate, Industrials, Energy, Basic Materials, Technology, and Utilities were the leading sectors, While Financials, Consumer Non-Cyclicals and Consumer Cyclicals were the lagging sectors on Monday. As per the data published by Statistics Canada, Canadian employment was little changed in May (+27,000; +0.1%) and the employment rate fell by 0.1 percentage. 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 22570, while the immediate support exists at 21550. On the weekly time frame, RSI is reading at ~59.66 levels.
On the macro front, the upcoming major economic events that may impact the Canadian market sentiment include U.S CPI m/m, U.S Prelim UoM Consumer Sentiment and U.S Unemployment Claims.
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