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%

CA Technical Analysis Report

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

Oct 08, 2024

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

Company Overview: Nouveau Monde Graphite Inc. (TSXV:NOU) is a mineral exploration company. The company only operating segment is the acquisition, exploration, and evaluation of mining properties and all its activities are conducted in Quebec, Canada. 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 gained 206.01 points (0.86%) to 24162.83 for the week ending October 04, 2024. On October 07, 2024, the index closed at 24102.71, down by 60.12 points or ~0.25%. Energy was the only leading sector, while utilities, real estate, healthcare, consumer non-cyclicals, consumer cyclicals, technology, financials, industrials, and basic materials were the lagging sectors on Monday. As per the data published by Statistics Canada,  Canadian real gross domestic product (GDP) was up 0.2% in July. 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 24550, while the immediate support exists at 23350. On the weekly time frame, RSI is reading at ~69.35 levels.

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

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