Adentra Inc. (TSX: ADEN)

Company Overview: Adentra Inc (TSX: ADEN) is a distributor of architectural products to fabricators, home centres and professional dealers servicing the new residential, repair and remodel, and commercial construction end markets. The company operates a network in North America facilities in the United States and Canada.

As per the previous recommendation on ADEN on 29 December 2022, a ‘Spec Buy’ rating was given on the stock at

CAD 27.19, and noted below are the details of support and resistance provided in the previous report:

Recommendation Summary as on 29 December 2022

ADEN Daily Chart

Considering the resistance, current trading levels and risks associated, it is prudent to book profits at the current levels. Hence, a ‘Sell’ recommendation is given on the stock at the closing price of CAD 34.00 (as of February 6, 2023).

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

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

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is February 6, 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 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 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.

Disclaimer 

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