RY 176.57 0.438% SHOP 158.97 0.9526% TD 79.31 0.1515% ENB 61.27 0.1471% BN 84.87 -1.1646% TRI 235.65 1.718% CNQ 46.46 -3.4898% CP 106.585 0.2021% CNR 153.9 0.1627% BMO 134.58 0.3654% BNS 77.82 0.9339% CSU 4727.8198 1.6729% CM 89.33 0.0336% MFC 45.32 0.421% ATD 82.32 -0.8551% NGT 58.47 -0.0513% TRP 68.21 -0.3943% SU 53.98 -1.5861% WCN 268.6 -0.3229% L 186.66 0.1771%
Company Overview: Largo Inc. (TSX: LGO) specializes in the production and supply of premium vanadium products, leveraging its expertise to support various industries. The company's commitment extends beyond traditional vanadium applications, with a significant focus on advancing renewable energy storage 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 negative note and maintained a bearish momentum for the entire week. The S&P/TSX composite index dropped by 587.18 points (0.2.57%) to 22227.63 for the week ending August 02, 2024. Utilities was the only leading sector, While Healthcare, Technology, Financials, Real Estate, Energy Basic Materials, Industrials, Consumer Cyclicals, and Consumer Non-Cyclicals were the lagging sectors on Friday. As per the data published by Statistics Canada, the Canadian real gross domestic product (GDP) grew 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 22850, while the immediate support exists at 21550 On the weekly time frame, RSI is reading at ~55.62 levels.
On the macro front, the upcoming major economic events that may impact the Canadian market sentiment include CA Ivey PMI, CA Employment Change and US Unemployment Claims.
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