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- GOOS

Feb 13, 2024

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

Company Overview: Canada Goose Holdings Inc (TSX: GOOS) is a Canada based company that designs, manufactures, distributes, and retails premium outerwear for men, women, and children. It operates business through three segments namely, Wholesale and Direct to Consumer (DTC), Other. The DTC segment is the key revenue driver of the company. 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 negative note and maintained a bearish momentum for the entire week. The S&P/TSX composite index declined by 75.49 points (0.36%) to 21009.60 for the week ending February 09, 2024. On February 12, 2024, the index closed at 21067.30, up by 57.70 points or ~0.28%. Basic Materials, Consumer Cyclicals, Consumer Non-Cyclicals, Real Estate, Healthcare, Utilities, Energy, and Financials were the leading sectors, While Industrials, and Technology were the lagging sectors on Monday. As per the data published by Statistics Canada, Canadian employment increased by 37,000 in January. The weekly chart indicates that the index prices are trading above the horizontal 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 21450, while the immediate support exists at 20500. On the weekly time frame, RSI is reading at ~59.96 levels.

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

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