Company Overview: Dye & Durham Limited (TSX: DND) is engaged in providing cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals. The company has business operations in Canada and the United Kingdom. Enghouse Systems Ltd (TSX: ENGH) is a Canada-based provider of software and services to a variety of end markets. The firm's operations are organized in two segments namely, the Interactive Management Group and the Asset Management Group. This Report covers the Price Action, Technical Indicators Analysis along with the Support Levels, Resistance Levels, and Recommendations on these stocks.

DND’s Technical Analysis:

On the daily chart, DND prices are sustaining above the falling trendline breakout level and taking support from the same. Moreover, the momentum oscillator RSI (14-period) is showing a reading of ~67.08 level. Further, the prices are trading above the trend-following indicator 21- period SMA, which may act as support zone. An important support level for the stock is placed at CAD 15.50 while the key resistance level is placed at CAD 19.90.

Daily Technical Chart – DND

Considering the company’s current prices are sustaining above the falling trendline and momentum oscillator analysis; therefore, a “Speculative Buy” recommendation is given on the stock. The stock was analysed as per the closing price of CAD 17.70 per share as on 19 Jun 2023, up by 0.683%. Dye & Durham Limited (TSX: DND) was last covered in a report dated ‘11 January 2023'.

ENGH’s Technical Analysis:

On the daily chart, ENGH prices are sustaining below the rising trendline support level and facing resistance from the same. Moreover, the momentum oscillator RSI (14-period) is showing a reading of ~28.90 level. Further, the prices are trading below the trend-following indicator 21- period SMA, which may act as resistance zone. An important support level for the stock is placed at CAD 28.90 while the key resistance level is placed at CAD 36.80.

Daily Technical Chart – ENGH

Considering the company’s current prices are sustaining below the rising trendline and momentum oscillator analysis, a 'Watch' recommendation is given on the stock. The stock was analysed as per the closing price of CAD 32.80 per share as on 19 June 2023, up by 0.923%. Enghouse Systems Ltd (TSX: ENGH) was last covered in a report dated ‘07 February 2023'.

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-economic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

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

Note 2: Investment decision should be made depending on an individual’s appetite for upside potential, risks, and any previous holdings. This recommendation is purely based on technical analysis, and fundamental analysis has not been considered in this report.

Note 3: Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.

The reference date for all price data, currency, technical indicators, support, and resistance levels is June 19, 2023. The reference data in this report has been partly sourced from REFINITIV.

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. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.

Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.

The Green colour line reflects the 21-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 21-period, prices are currently in a bullish trend (Vice – Versa).

The Blue colour line reflects the 50-period moving average. SMA helps to identify existing price trends. If the prices are trading above the 50-period, prices are currently in a bullish trend (Vice – Versa).

The Orange/ Yellow colour line represents the Trendline.

The Black colour line in the chart’s lower segment reflects the Relative Strength Index (14-Period), which indicates price momentum and signals momentum in trend. A reading of 70 or above suggests overbought status, while a reading of 30 or below suggests an oversold status.

Disclaimer

The advice given by Kalkine Canada Advisory Services Inc. and provided on this website is general information only and it does not take into account your investment objectives, financial situation and the particular needs of any particular person. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. The website www.kalkine.ca is published by Kalkine Canada Advisory Services Inc. The link to our Terms & Conditions has been provided please go through them. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations later.