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 50-period SMA, One TSX-listed stock to consider at the current levels- NANO

Oct 29, 2024

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

Company Overview: Nano One Materials Corp. (TSX: NANO) is at the forefront of sustainable energy solutions, utilizing its patented technology to produce cost-effective, high-performance cathode powders for lithium-ion batteries. Their innovative approach not only enhances the performance of electric vehicles and grid storage systems but also supports the global transition to a zero-emission future. 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 358.87 points (1.45%) to 24463.67 for the week ending October 25, 2024. On October 28, 2024, the index closed at 24565.66, up by 101.99 points or ~0.42%. Healthcare, consumer cyclicals, consumer non-cyclicals, basic materials, financials, technology, industrials, and utilities were the leading sectors, while real estate and energy were the lagging sectors on Monday. As per the data published by Statistics Canada,  Canadian retail sales increased 0.4% to $66.6 billion in August. The weekly chart indicates that the index prices are trading above the rising trendline support zone. Moreover, prices are sustaining above the 21-period, which may act as a support level for the index. The immediate resistance for the index is around 25100, while the immediate support exists at 23750. On the weekly time frame, RSI is reading at ~69.40 levels.

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

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