Company Overview: ​ Electra Battery Materials Corporation (TSXV: ELBM) is a leading player in advancing North America’s critical minerals supply chain for lithium-ion batteries. The company’s primary focus is the construction of North America’s only cobalt sulfate refinery, forming a key part of a phased strategy to onshore critical minerals refining and reduce reliance on foreign supply chains. E3 Lithium Ltd. (TSXV: ETL) is a development-stage lithium company with total Measured and Indicated mineral resources of 21.2 million tonnes of lithium carbonate equivalent (LCE) in Alberta, along with an additional 0.3 Mt LCE of Inferred resources in the province. The company also holds 2.5 Mt LCE of Inferred mineral resources in Saskatchewan, positioning E3 Lithium as one of the largest undeveloped lithium resource holders in Canada. This Report covers the Price Action, Technical Indicators Analysis along with the Stop Loss Levels, Target Prices, and Recommendations on these two stocks.

Canada Market Round-Up

The S&P/TSX Composite Index (TSX: ^TSX) ended the week on a positive note, rising 2.29% to close at 32,612.93. Weekly momentum strengthened notably on January 12, 2026, when the index gained 261.77 points (+0.80%), signaling a renewed wave of buying interest. Sector performance was mixed. Basic materials, energy, consumer non-cyclicals, technology, healthcare, consumer cyclicals, real estate, and industrials outperformed, while utilities and financials lagged, tempering broader index gains. From a technical standpoint, the index maintains a constructive bias, holding firmly above its rising trendline support and the 21-period Simple Moving Average (SMA), both of which continue to validate the prevailing uptrend. Immediate resistance is located near 33,400, and a decisive breakout above this level could pave the way for further upside. On the downside, initial support is seen around 32,200; a sustained break below this area may trigger a deeper short-term pullback. The weekly Relative Strength Index (RSI) stands at 80.94, reflecting strong and persistent buying momentum, while also signaling that the market is approaching overbought conditions, warranting some near-term caution.

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.

Past performance is not a reliable indicator of future performance.