Section1: Company Overview

Canadian Banc Corp. (TSX: BK) is a Canada-based mutual fund company. The Company's investment objective of the preferred shares is to provide holders with cumulative preferential floating rate monthly cash dividends at a rate per annum equal to the prevailing Canadian prime rate plus 1.5%. This Report covers the Investment Highlights, Key Financial Metrics, Risks, Technical Analysis and Recommendation on the stock.

1.1 The Key Positives, Negatives, Investment Highlights, and Risks

Section2:  Financial Highlights

 2.1 Key Financial Highlights

Section 3:  Stock Recommendation Summary

3.1 Price Performance and Stock Recommendation

The stock has witnessed a downside of ~1.70% and ~20.74% over the last 1 month and 3 months respectively. Moreover, the stock is trading below the average 52-week high price of CAD 14.12 and 52-week low price of CAD 9.28, implying a cautious view.

3.2 One-Year Price Chart

On the daily chart, BK.TO’s stock prices are forming a symmetrical triangle pattern during a downtrend, suggesting that the sideways period on the stock might continue to persist in the near future. Additionally, the momentum oscillator RSI (14-period) is hovering near the midpoint, adding more evidence for the mentioned recommendation. Prices are fluctuating between its previous peak and trough, which might serve as resistance and support levels for the stock, respectively. Important support for the stock is positioned at CAD 9.33, while key resistance is placed at CAD 10.49

One-Year Technical Price Chart (as of December 7, 2023)

3.3 Technical Summary

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on December 7, 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and the uptrend may take a pause due to profit booking or selling interest.

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.