CA Technical Analysis Report

The S&P/TSX Composite Index inched higher, One TSX-listed stock to consider at the current levels- NXE

Mar 25, 2025

| Read Time :10 Mins

NXE:TSX

Investment Type

Mid - Cap

Risk Level

Action

Rec. Price (CA$)

Company Overview: NexGen Energy Ltd. (TSX: NXE) is a mineral exploration company focused on the acquisition, exploration, evaluation, and development of uranium properties in Canada. The company is known for its high-grade uranium projects, primarily in the Athabasca Basin, Saskatchewan, one of the world's most prolific uranium-producing regions. 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 S&P/TSX Composite Index (TSX: ^TSX) maintained an upward trajectory throughout the past week, closing on March 21, 2025, with a gain of 415.09 points (1.69%) at 24,968.49. The momentum continued into March 24, 2025, as the index rebounded further, rising by 335.52 points (1.34%) to settle at 25,304.11. Leading the market recovery were sectors such as technology, consumer non-cyclicals, healthcare, energy, real estate, industrials, consumer cyclicals, basic materials, and financials, while utilities remained the sole underperformer. Meanwhile, Statistics Canada reported a 0.6% decline in retail sales for January, bringing total sales down to $69.4 billion. From a technical standpoint, the index remains above a key horizontal trendline support zone and continues to trade above the 21-period simple moving average (SMA), which serves as an important support level. The immediate resistance is seen near 25,900, while critical support is positioned around 24,700. Additionally, the Relative Strength Index (RSI) on the weekly timeframe is approximately 56.71, signalling strong momentum despite recent fluctuations.

On the macro front, the upcoming major economic events that may impact the Canadian market sentiment include CA GDP m/m, US Durable Goods Orders m/m and US Unemployment Claims.

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