Company Overview:

North American Financial 15 Split Corp. (TSX: FFN) is a mutual fund corporation, which invests in a portfolio of over 15 financial services companies. It offers two types of shares, such as Preferred Shares and Class A Shares. Its investment objectives with respect to preferred shares are to provide holders of preferred shares with cumulative preferential monthly cash dividends, the amount of which is fixed on an annual basis and to pay the holders of the preferred shares a certain price per preferred share on or about the termination date. 

As per the previous Report published on “FFN” as on 9^th September 2025, Kalkine provided a “Speculative Buy” stance on the stock at CAD 7.37.

Noted below are the details of support and resistance levels provided in the previous report:

DAY Daily Chart

FFN's Daily Technical Price Chart, Data Source: REFNITIV

Based on the chart for North American Financial 15 Split Corp, the technical outlook appears cautiously negative in the short term. The stock has pulled back slightly from recent highs and is now trading around CAD 8.21, showing early signs of weakening momentum. The price remains above the 14-day smoothed moving average (SMMA), but the slope of the average is flattening, indicating a potential loss of upward strength.

The RSI at ~60.88 suggests momentum is cooling off from overbought territory and could trend lower if selling pressure persists. Recent candles also show smaller bodies and minor rejections near resistance, hinting at consolidation or a possible short-term correction. Overall, the indicators point to fading bullish momentum and a potential short-term retracement phase.

Considering the current trading levels and risks associated, it is prudent to exit at the current levels. Hence, a ‘Sell’ recommendation is given on the stock at the last closing price of CAD 8.21 on 31^st October 2025.  

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate. 

North American Financial 15 Split Corp. (TSX: FFN) is a part of Kalkine’s Dividend Income Report 

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 level as 31^st October 2025. 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.

Note 4: Target Price refers to a price level which the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the Toronto Stock Exchange (TSX) and or REFINITIV. Typically, both sources (TSX and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.