RY 134.32 0.8484% TD 81.09 -0.7102% SHOP 97.4 0.776% CNR 166.64 -0.2693% ENB 49.075 0.2554% CP 107.6 -0.3704% BMO 123.54 0.4635% TRI 209.64 0.8224% CNQ 103.75 -0.5464% BN 56.59 2.481% ATD 75.84 -0.6029% CSU 3624.25 2.2563% BNS 63.7 0.855% CM 64.66 0.6225% SU 51.62 -1.7323% TRP 49.19 -0.2636% NGT 56.52 0.9827% WCN 223.3 0.0448% MFC 32.6 1.526% BCE 45.66 0.9507%

Stocks under $1 Report

S&P/TSX Venture Composite Edged Higher, 2 TSXV-listed stocks to consider at the current levels- SALT, LBNK

Apr 12, 2024

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

Company Overview: Atlas Salt Inc. (TSXV: SALT) is working to advance the Great Atlantic Salt Project through feasibility and possible production as an advanced, environmentally friendly salt factory. Lithiumbank Resources Corp. (TSXV: LBNK) is an exploring and development business that works on Western Canadian brine properties that are rich in lithium. 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 Venture Composite Index (TSX: ^JX) started the week on a positive note and continued the momentum. On April 11, 2024, the index closed at 591.28 with an overall week-to-date (WTD) gain of 1.19%. Technology, Industrials, Consumer Non-Cyclicals,  and Real Estate were the leading sectors, While  Healthcare, Basic Materials, Energy, Financials, and Consumer Cyclical were the laggards on Thursday.

As per the daily chart analysis, the index prices are trading above a horizontal trend line resisatnce zone. The leading indicator RSI (14-period) is hovering above the midpoint and is showing a reading of ~69.08. Moreover, the prices are trading above the  50-period & 21-period SMAs, which may act as a support zone in the near term.

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