RY 178.27 -0.724% SHOP 167.55 4.6664% TD 73.51 -0.689% ENB 61.05 -0.9411% BN 84.64 0.4748% TRI 241.65 1.8546% CNQ 45.66 -2.1012% CP 106.61 -0.4854% CNR 151.37 -1.2912% BMO 146.32 4.7162% BNS 78.94 0.8302% CSU 4698.6602 -0.2014% CM 94.35 0.8659% MFC 45.81 0.2626% ATD 81.38 -0.2085% NGT 58.19 1.1472% TRP 68.29 -0.5823% SU 54.31 -1.1647% WCN 269.35 0.8688% L 191.71 -0.5499%

CA Technical Analysis Report

The S&P/TSX Composite Index is trading above 50-period SMA, One TSXV-listed stock to consider at the current levels- HIVE

Oct 15, 2024

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

Company Overview: HIVE Blockchain Technologies Ltd. (TSXV: HIVE) focuses on blockchain infrastructure solutions, primarily through digital currency mining. Their notable project is the Iceland cryptocurrency mining project, which leverages the country’s renewable energy resources for efficient mining operations. 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 308.34 points (1.28%) to 24471.17 for the week ending October 11, 2024. Consumer Cyclicals, utilities, real estate, basic materials, consumer non-cyclicals, technology, financials, industrials, and energy were the leading sectors, while healthcare was the lagging sector on Friday. As per the data published by Statistics Canada,  the total value of building permits in Canada saw a significant decline, dropping by $858.1 million, which is a decrease of 7.0%, bringing the total to $11.5 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 25200, while the immediate support exists at 23850. On the weekly time frame, RSI is reading at ~72.76 levels.

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

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