RY 174.39 2.4016% SHOP 149.115 2.5974% TD-PFM 24.63 -0.0811% TD-PFL 24.7 0.2028% TD 78.325 0.1214% ENB 60.6 1.3039% BN 80.4 1.9787% TRI 226.27 0.7525% CNQ 48.285 2.2771% CP 104.53 1.6038% CNR 151.74 1.5459% BMO 132.69 0.9203% BNS 78.845 0.1715% CSU 4600.2002 2.157% CM 91.15 0.474% MFC 45.79 1.6878% ATD 78.38 1.5285% NGT 60.14 0.0499% TRP 70.15 1.977% SU 57.44 0.5954%

small-cap

Technical Analysis on One TSX-Listed Basic Material Stock – LUC

Aug 23, 2024 | Team Kalkine
Technical Analysis on One TSX-Listed Basic Material Stock – LUC

LUC:TSX
Investment Type
Small-Cap
Risk Level
Action
Rec. Price (CA$)

Company Overview: Lucara Diamond Corp. (TSX: LUC) engages in the development and operation of diamond properties in Africa, as well as operates Clara Platform, a digital sales platform for rough diamonds. This Report covers the Price Action, Technical Indicators Analysis along with the Support Levels, Resistance Levels, and Recommendations on this stock.

LUC’s Technical Analysis:

On the daily chart, LUC's stock price broke above a descending wedge pattern coupled with a Breakaway gap, signalling a positive trend. In contrast, the RSI (14-period) is trading deep in its oversold region, anticipating for a potential minor correction. Prices are trading above both the 21-period and 50-day SMAs, which may potentially function as dynamic support levels for the stock; in contrast, the stock’s most recent high might act as a resistance level. Critical support for the stock is positioned at CAD 0.420, while key resistance is placed at CAD 0.480.

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