RY 172.7 -0.1792% SHOP 152.38 -3.7762% TD 74.49 -0.4144% ENB 58.66 0.2906% BN 80.21 0.2124% TRI 235.76 -0.7034% CNQ 42.27 -1.3305% CP 102.81 -2.4851% CNR 145.02 -0.9426% BMO 139.15 0.5855% BNS 77.045 -0.149% CSU 4497.2998 0.6756% CM 92.23 -0.335% MFC 43.28 0.8858% ATD 79.0 -1.1882% NGT 53.35 -1.8038% TRP 65.26 0.215% SU 49.61 -1.411% WCN 251.65 -0.2181% L 191.14 0.1205%
Company Overview: Canopy Growth Corporation (TSX: WEED) headquartered in Smiths Falls, Canada, is a leading player in the cannabis industry, specializing in the cultivation and sale of both medicinal and recreational cannabis, as well as hemp products. Standard Lithium Ltd. (TSXV:SLI) is a Canada-based lithium development company. The Company focused on the development of a portfolio of lithium-brine bearing properties in the United States. 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 positive note and maintained a bullish momentum for the entire week. The S&P/TSX composite index advanced by 553.60 points (2.22%) to 25444.28 for the week ending November 22, 2024. On November 25, 2024, the index closed at 25410.35, down by 33.93 points or ~0.13%. Real Estate, healthcare, technology, consumer cyclicals, consumer non-cyclicals, financials, industrials, and utilities were the leading sectors, while basic Materials and energy were the lagging sectors on Monday. As per the data published by Statistics Canada, Canadian retail sales increased 0.4% to $66.9 billion in September. 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 26000, while the immediate support exists at 24750. On the weekly time frame, RSI is reading at ~73.36 levels.
On the macro front, the upcoming major economic events that may impact the Canadian market sentiment include CA GDP m/m, U.S Prelim GDP q/q and U.S Unemployment Claims.
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