1. Exit Case: North American Construction Group Ltd. 

Overview:

North American Construction Group Ltd. (TSX: NOA) is Canada's provider of heavy civil construction and mining contractors. The company has provided services to the oil, natural gas and resource companies.

NOA has been a part of the ‘Growth Portfolio’ since 7^th October 2024. However, considering the recent decline in the stock price, and ~17.88% downside from the entry price, an ‘Exit’ is recommended from the stock at the price of CAD 21.35, (as on 23^rd April 2025).

North American Construction Group Ltd. (TSX: NOA) is a part of Kalkine’s Growth Portfolio, and is trading below the support level, as an exit case emerges.

1.1 Support and Resistance Summary as provided in our last published report dated 7^th October 2024.

North American Construction Group Ltd. (TSX: NOA)

2. New Entry Case: Cameco Corporation (TSX: CCO) 

Overview:

Cameco Corporation (TSX: CCO) is one of the world's largest uranium producers. When operating at normal production, the flagship McArthur River mine in Saskatchewan accounts for roughly 50% of output in normal market conditions.

Technical Analysis: On the daily chart, CCO prices has shown an uptrend, indicating positive momentum. The 14-period Relative Strength Index (RSI) stands at approximately 49.73, reflecting decent buying interest. Additionally, prices are positioned above the 20-period Simple Moving Average (SMA), which could serve as a support level. The key support for the stock price is at CAD 50.24, while the critical resistance level is at CAD 64.58.

Considering the above mentioned factors, technical analysis, support & resistance levels, key risks and outlook an, ‘Entry’ is recommended in the ‘Growth Portfolio’ at the closing market price of CAD 58.27, as on (as on 23^rd April 2025). 

Cameco Corporation (TSX: CCO) has been identified as the new entry to our Growth Portfolio.

2.1 Support and Resistance Summary (as on 23^rd April 2025)

2.2 Cameco Corporation (TSX: CCO)

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency as of (23^rd April 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.

Disclaimer

This information should not be relied upon as personal financial advice by Kalkine on (i) the stocks or (ii) the use or suitability of the model portfolios. Only an investor knows about their circumstances to make an investment decision.

Model Portfolio has been prepared for illustrative purpose only and does not take into account the objectives, financial situation or needs of any particular investor. Accordingly, investors should, before acting on the information, consider its appropriateness, having regard to their objectives, financial situation and needs. Past performance is not necessarily indicative of future performance results. Actual investment returns will vary, and the value of investments can go up or down.