RY 142.75 1.1837% TD 77.81 0.5557% SHOP 80.04 -0.6701% CNR 172.385 -1.0476% ENB 51.57 -0.1935% CP 112.57 -0.6794% BMO 128.68 0.4057% TRI 229.24 -0.1046% CNQ 104.495 -0.0908% BN 60.15 -0.5127% ATD 75.31 -0.502% CSU 3700.0 -0.9715% BNS 65.835 0.2513% CM 67.44 -0.1628% SU 54.28 -0.9308% TRP 52.485 -0.5589% NGT 57.64 -0.8088% WCN 225.69 -1.3291% MFC 35.2 -1.1236% BCE 46.34 -0.1078%

CA Technical Analysis Report

S&P/TSX Composite index edged higher, One TSX-listed stock to consider at the current levels- HIVE

Apr 23, 2024

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

Company Overview: HIVE Digital Technologies Ltd. (TSXV: HIVE) engages in building a bridge from the block chain sector to traditional capital markets. It provides digital asset mining, hosting, and managed infrastructure operation services. This Report covers the Price Action, Technical Indicators Analysis along with the Stop Loss Levels, Target Prices, and Recommendation on this one stock.

Canada Market Round-Up

The benchmark S&P/TSX Composite Index (TSX: ^TSX) started the last week on a positive note and maintained a bullish momentum for the entire week. The S&P/TSX composite index declined by 92.62 points (0.42%) to 21807.37 for the week ending April 19, 2024. On April 22, 2024, the index closed at 21871.96, up by 64.59 points or ~0.29%. Real Estate, Industrials, Consumer Cyclicals, Technology, Consumer Non-Cyclicals, Utilities, Financials and Energy were the leading sectors, While Healthcare and Basic Materials were the lagging sectors on Monday. As per the data published by Statistics Canada, Canadian Investment in building construction declined by 1.1% to $19.3 billion in February. The weekly chart indicates that the index prices are trading above the horizontal trendline resistance zone. Moreover, prices are sustaining above the 21-period & 50-period SMAs, which may act as a support level for the index. The immediate resistance for the index is around 22400, while the immediate support exists at 21000. On the weekly time frame, RSI is reading at ~62.95 levels.

On the macro front, the upcoming major economic events that may impact the Canadian market sentiment include CA Retail Sales m/m, US Advance GDP q/q and U.S Unemployment Claims.

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