Company Overview: Zentek Ltd.(TSXV: ZEN) is a Canadian intellectual property technology company specializing in the development and commercialization of innovative nanomaterials and advanced biotechnology solutions. The company’s primary focus is on ZenGUARD, a patented antimicrobial coating platform designed to provide enhanced protection against a wide range of pathogens. This Report covers 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) posted a solid gain of 0.66% last week, closing at 27,494.35, supported by broad-based strength across multiple sectors. However, the index started the new week on a softer note, declining by 88.93 points or 0.32% on July 28, as market sentiment cooled. While healthcare, technology, and energy sectors continued to show relative strength, several other sectors including basic materials, real estate, industrials, financials, consumer non-cyclicals, consumer cyclicals, and utilities underperformed, weighing on the broader market. From a technical standpoint, the index remains in a constructive bullish setup, continuing to trade above its horizontal trendline support and the 21-period Simple Moving Average (SMA). These levels have historically served as key trend indicators, reinforcing the strength of the prevailing uptrend. Looking ahead, immediate resistance is seen near the 27,900 level. A breakout above this threshold could open the door to further upside. On the downside, key support is positioned around 26,900, with a break below potentially leading to deeper short-term retracement. The weekly Relative Strength Index (RSI) currently stands at 70.95, reflecting steady bullish momentum.

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