Company Overview:

American Tungsten Corp. (CSE: TUNG) is a Canadian exploration company focused on high-potential tungsten and magnetite assets in North America. The Company is advancing the IMA Mine Project in Idaho to commercial production, addressing critical metal scarcity in North America. 

This Report covers the Price Action, Technical Indicators Analysis along with the Support Levels, Resistance Levels, and Recommendations on this stock.  

Fundamental Highlights:

De-Risked Path Toward Near-Term Production: American Tungsten Corp. is advancing a disciplined, milestone-driven strategy at the past-producing IMA Mine in Idaho. Rehabilitation of the Zero Level portal demonstrates strong focus on safety, regulatory compliance, and operational readiness, materially reducing risk and supporting a clear path toward advanced exploration and potential production.

Strategic Exposure to Critical Minerals in a Permittable Asset: The IMA Mine’s private-patented claims offer a streamlined permitting advantage. Exposure to critical minerals such as tungsten and molybdenum, alongside silver potential, positions American Tungsten to benefit from long-term industrial and defense demand, supported by a high-quality asset, strong jurisdiction, and a responsible, development-focused strategy.

Key Investment Risks: Commodity Price Volatility, Execution Risk, Permitting & Regulatory Risk, Inflation, etc

TUNG’s Technical Observation:

American Tungsten’s share price is showing renewed technical strength, breaking higher with higher volume and reclaiming key moving average support. Momentum indicators are constructive, with RSI pushing toward bullish territory. The recent breakout suggests improving trend direction and potential for continued upside if momentum is sustained.

TUNG’s Daily Price Chart

As per the above-mentioned price action and technical indicators analysis, a ‘Speculative Buy’ rating has been given American Tungsten Corp. (CSE: TUNG) at the closing market price of CAD 2.27, as of 7^th January 2026. Individuals can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario. 

Markets are trading in a highly volatile zone currently due to certain Macro & Micro-economic data and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

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 January 7, 2026. 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: Dividend Yield may vary as per the stock price movement. 

Note 5: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 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.

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.