Company Overview: Algoma Steel Group Inc. (TSX: ASTL) is a Canada-based integrated steel producer specializing in hot and cold rolled steel products, including sheet and plate. The company focuses on delivering responsive, customer-driven solutions tailored for a range of industries, such as automotive, construction, energy, defense, and manufacturing. 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 slightly negative performance last week, edging down 0.03% to close at 26,497.57 amid broad-based declines. However, the index ended the week on a positive note, gaining 111.79 points (+0.42%) on June 23. The rally was led by strength across several sectors, including technology, consumer non-cyclicals, consumer cyclicals, basic materials, industrials, utilities, real estate, and financials, while energy and healthcare lagged the broader market. On the economic front, Statistics Canada reported that retail sales rose 0.3% to $70.1 billion in April. Technically, the index remains positioned above both its horizontal trendline and the 21-period Simple Moving Average (SMA), supporting the ongoing bullish trend. Immediate resistance is seen near 27,100, with key support around 25,900. The weekly Relative Strength Index (RSI) stands at 66.24, reflecting steady momentum and sustained buying interest, while still leaving room before entering overbought territory.

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