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: ADF Group Inc. (TSX: DRX) is involved in the design and engineering of connections and fabrication, including industrial coating, and the installation of steel structures and steel-built ups, as well as miscellaneous and architectural metalwork. 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 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 declined 417.50 points (1.63%) to 25274.30 for the week ending December 13, 2024. On December 16, 2024, the index closed at 25147.21, down by 127.09 points or ~0.50%. Financials was the leading sector, while healthcare, consumer cyclicals, consumer non-cyclicals, real estate, basic materials, utilities, technology, energy and industrials were the lagging sectors on Monday. As per the data published by Statistics Canada, Canadian total manufacturing sales rose 2.1% to $70.8 billion in October. The weekly chart indicates that the index prices are trading above the rising trendline support zone. Moreover, prices are sustaining above the 50-period SMA, which may act as a support level for the index. The immediate resistance for the index is around 25700, while the immediate support exists at 24500. On the weekly time frame, RSI is reading at ~65.65 levels.
On the macro front, the upcoming major economic events that may impact the Canadian market sentiment include CA CPI m/m, US Retail Sales m/m and US Unemployment Claims.
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