RY 169.88 -1.0542% SHOP 144.59 -0.959% TD 77.85 -0.1667% ENB 59.62 -0.5505% BN 78.53 -0.971% TRI 223.92 -0.2495% CNQ 47.03 -0.0213% CP 102.49 -0.5627% CNR 147.77 -0.8787% BMO 131.32 -0.0685% BNS 78.4 0.0255% CSU 4463.7002 0.6222% CM 90.42 0.6344% MFC 44.91 -1.3184% ATD 77.0 -0.7604% NGT 60.01 -0.4149% TRP 68.0 -2.2989% SU 56.965 -0.4282% WCN 260.14 -0.653% L 176.45 0.7135%
Company Overview: Lithium Royalty Corp. (TSX: LIRC) is a specialized investment company focused on lithium, a critical metal in the production of batteries for electric vehicles (EVs) and other energy storage applications. 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 dropped 208.51 points (0.85%) to 24255.16 for the week ending November 01, 2024. On November 04, 2024, the index closed at 24256.06, up by 0.90 points or ~0.004%. Real Estate, consumer cyclicals, consumer non-cyclicals, energy, financials, and industrials were the leading sectors, while utilities, basic materials, technology, and healthcare were the lagging sectors on Monday. As per the data published by Statistics Canada, Canadian real gross domestic product (GDP) was essentially unchanged in August. The weekly chart indicates that the index prices are trading above the rising trendline support zone. Moreover, prices are sustaining above the 50-period, which may act as a support level for the index. The immediate resistance for the index is around 24950, while the immediate support exists at 23750. On the weekly time frame, RSI is reading at ~65.06 levels.
On the macro front, the upcoming major economic events that may impact the Canadian market sentiment include CA Trade Balance, CA Unemployment Rate and US Unemployment Claims.
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