RY 139.14 0.5492% TD 75.13 0.4412% SHOP 105.68 3.7502% CNR 172.48 2.0773% ENB 50.14 0.8245% CP 111.43 2.145% BMO 127.18 1.9152% TRI 228.41 1.3714% CNQ 103.87 1.7336% BN 59.7 2.3838% ATD 75.25 0.3467% CSU 3750.01 3.0786% BNS 64.82 1.0759% CM 66.11 0.9159% SU 53.13 1.6648% TRP 51.39 -0.0972% NGT 56.61 1.7434% WCN 227.64 1.3355% MFC 33.42 1.7042% BCE 45.86 -0.2176%

CA Technical Analysis Report

S&P/TSX Composite index is trading above 21-period SMA, One TSX-listed stock to consider at the current levels- CVO

Jan 30, 2024

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

Company Overview: Coveo Solutions, Inc. (TSX: CVO) engages in the design and development of enterprise search engine applications. 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 218.76 points (1.05%) to 21125.28 for the week ending January 26, 2024. On January 29, 2024, the index closed at 21200.06, up by 74.78 points or ~0.35%. Industrials, Technology, Consumer Cyclicals, Basic Materials, Consumer Non-Cyclicals, Real Estate, Healthcare, Utilities, and Financials were the leading sectors, While the Energy was laggard sector on Monday. The weekly chart indicates that the index prices are trading above the falling trendline resistance zone. Moreover, 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 21750, while the immediate support exists at 20600. On the weekly time frame, RSI is reading at ~62.11 levels.

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

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