RY 171.23 -1.0746% SHOP 170.14 2.1432% TD 81.85 -0.7879% ENB 62.92 0.5594% BN 84.78 -1.8636% TRI 244.07 -0.9215% CNQ 44.44 1.6236% CP 111.16 2.0753% CNR 147.09 2.2595% BMO 140.35 -1.2315% BNS 72.0 -0.0971% CSU 4795.7002 -0.5041% CM 88.52 1.351% MFC 42.53 -0.3047% ATD 76.2 1.3163% NGT 62.42 -0.5893% TRP 66.63 1.0005% SU 55.02 0.5299% WCN 269.74 -1.0927% L 182.96 1.4416%

CA Technical Analysis Report

The S&P/TSX Composite Index is trading above 21-period SMA, One TSX-listed stock to consider at the current levels- XAU

Feb 04, 2025

XAU:TSX
Investment Type
Small-Cap
Risk Level
Action
Rec. Price (CA$)

Company Overview: Goldmoney Inc. (TSX: XAU) is a global business with a strong focus on the precious metals sector. The company, through its various operating subsidiaries, provides a comprehensive range of services centered around the sale, storage, and management of precious metals. 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 positive note and maintained a bullish momentum for the entire week. The S&P/TSX composite index advanced 64.61 points (0.25%) to 25533.10 for the week ending January 31, 2025. On February 03, 2025, the index closed at 25241.76, down by 291.34 points or ~1.14%. Basic Materials was the only the leading sector, while healthcare, industrials, energy, consumer cyclicals, technology, financials, consumer non-cyclicals, real estate, and utilities were the lagging sectors on Monday. As per the data published by Statistics Canada,  Canadian real gross domestic product (GDP) decreased 0.2% 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 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 24700. On the weekly time frame, RSI is reading at ~60.27 levels.

On the macro front, the upcoming major economic events that may impact the Canadian market sentiment include CA Employment Change, US Unemployment Rate and US Unemployment Claims.

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