RY 159.49 -2.2493% SHOP 134.86 0.6944% TD 83.2 -1.9562% ENB 61.17 -0.7464% BN 72.21 -0.6193% TRI 248.33 -0.9848% CNQ 41.395 1.1855% CP 105.84 -1.3791% CNR 137.8 -2.766% BMO 138.07 -2.1058% BNS 68.475 -0.9188% CSU 4745.1499 -1.1427% CM 79.7 -0.846% MFC 41.195 -0.0364% ATD 69.58 -2.6172% NGT 62.81 2.5804% TRP 66.74 -0.015% SU 50.92 -1.2029% WCN 266.23 -0.9598% L 186.93 -3.0647%

CA Technical Analysis Report

The S&P/TSX Composite index edged lower, 2 TSX-listed stocks to consider at the current levels- CU and SJ

Mar 04, 2025

CU:TSX
Investment Type
Mid - Cap
Risk Level
Action
Rec. Price (CA$)
SJ:TSX
Investment Type
Mid - Cap
Risk Level
Action
Rec. Price (CA$)

Company Overview: Canadian Utilities Ltd. (TSX: CU), a subsidiary of Atco, provides essential energy services across multiple sectors. The company engages in power generation, transmission, and distribution.  Stella-Jones Inc. (TSX: SJ) is a leading manufacturer and supplier of lumber and wood products, serving various industries. The company includes utility poles, railway ties, residential lumber, and industrial wood products designed for durability and long-term use. 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 S&P/TSX Composite Index (TSX: ^TSX) started the previous week with strong bullish momentum, gaining 246.42 points (0.98%) to close at 25,393.45 on February 28, 2025. However, on March 3, 2025, the index saw a notable pullback, dropping 391.80 points (1.54%) to close at 25,001.57. Sector performance was mixed, with Utilities and real estate leading gains, while consumer non-cyclicals, energy, financials, technology, industrials, consumer cyclicals, basic materials, and healthcare underperformed. Meanwhile, Statistics Canada reported a 0.6% increase in real GDP for Q4 2024, indicating steady economic expansion. From a technical standpoint, the index remains above rising trendline support and the 50-period SMA, suggesting that the broader uptrend is intact despite short-term volatility. Key resistance is near 25,600, while support sits around 24,500. The weekly RSI at 54.68 reflects solid momentum, implying that buyers are still active in the market.

On the macro front, the upcoming major economic events that may impact the Canadian market sentiment include CA Employment Change, U.S Non-Farm Employment Change and U.S Unemployment Claims.

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