RY 173.64 -0.3672% SHOP 148.58 -0.6486% TD 82.36 -0.9263% ENB 64.21 -0.2641% BN 83.24 -1.0579% TRI 230.54 0.013% CNQ 46.58 3.4881% CP 109.8 1.4131% CNR 148.11 0.8031% BMO 143.82 0.3489% BNS 73.94 0.5029% CSU 4345.0 -1.0785% CM 90.555 -0.1158% MFC 44.31 0.113% ATD 76.82 0.0521% NGT 60.2 -0.1327% TRP 69.31 1.0939% SU 56.975 0.9658% WCN 255.98 -0.7868% L 181.13 -0.1268%
Company Overview: Mullen Group Ltd. (TSX: MTL) is a prominent logistics and transportation services company based in North America. Lithium Americas Corp. (TSX: LAC) is a significant player in the global lithium market, focused on advancing its lithium production capabilities through key projects in Argentina and Nevada. 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 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 305.81 points (1.22%) to 24767.73 for the week ending January 10, 2025. On January 13, 2025, the index closed at 24536.32, down by 231.41 points or ~0.93%. Healthcare, basic materials, consumer cyclicals, consumer non-cyclicals, financials, industrials, technology, real estate, utilities and energy were the lagging sectors on Monday. As per the data published by Statistics Canada, Canadian total value of building permits issued in Canada decreased by $739.5 million (-5.9%) to $11.7 billion in November. The weekly chart indicates that the index prices are trading above the rising trendline support 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 25000, while the immediate support exists at 24000. On the weekly time frame, RSI is reading at ~54.61 levels.
On the macro front, the upcoming major economic events that may impact the Canadian market sentiment include CA PPI m/m, U.S CPI m/m and U.S Unemployment Claims.
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