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Top 5 Canadian Biotech Stocks in 2025

Investing 5 Mins Read

Biotech is a dynamic industry that is driving scientific advances and innovation in healthcare. In Canada, the biotech sector is home to companies pursuing cutting-edge therapies and medical technologies.

According to Grandview Research, the global biotech market is expected to grow at a compound annual growth rate of 13.96 percent between 2024 and 2030 to reach a value of US$3.08 trillion.

Read on to learn what’s been driving these Canadian biotech firms.

1. Bright Minds Biosciences (CSE:DRUG)

Year-on-year gain: 2,681.82 percent
Market cap: C$322.61 million
Share price: C$45.90

Bright Minds Biosciences is focused on developing novel treatments for neuropsychiatric disorders and pain.

Its portfolio consists of serotonin agonists designed to target neurocircuit abnormalities that make disorders like epilepsy, post-traumatic stress disorder and depression difficult to treat. The company’s drugs have been designed to potentially retain the powerful therapeutic aspects of psychedelic and other serotonergic compounds, while minimizing their side effects, thereby creating superior drugs to first-generation compounds such as psilocybin.

In October 2024, the company’s share price surged nearly 1,500 percent in a single session after global pharmaceutical company H. Lundbeck announced its intention to acquire Longboard Pharmaceuticals. Both Longboard and Bright Minds have agonists targeting the 5-HT2C receptorin their pipelines.

Bright Minds’ 5-HT2C agonist candidate, BMB-101, will target classic absence epilepsy and developmental epileptic encephalopathy. The company is currently evaluating Phase II trials in collaboration with Firefly Neuroscience (NASDAQ:AIFF).

In March of this year, Bright Minds added five world-renowned leaders in epilepsy research to its scientific advisory board.

2. ME Therapeutics Holdings (CSE:METX)

Year-on-year gain: 145.9 percent
Market cap: C$235.71 million
Share price: C$9.00

ME Therapeutics is a biotechnology company focused on developing cancer-fighting drug candidates that can increase the efficacy of current immuno-oncology drugs by targeting suppressive myeloid cells, which have been found to hinder the effectiveness of existing immuno-oncology treatments. Immuno-oncology is a relatively new area of cancer drug research and has shown promising results when used to treat cancer with low survival rates.

In December 2023, the company shared research done in collaboration with Dr. Kenneth Harder at the University of British Columbia. The work suggests that ME Therapeutics’ antibody, h1B11-12, successfully blocks a protein that fuels breast and colon cancer growth (G-CSF). Trial planning efforts are ongoing, and the company expects development of a cell line for future production of the drug to be finished in the latter half of 2025.

In addition, the company is part of an ongoing collaborative effort to develop therapeutic MRNA delivery methods to myeloid cells with NanoVation Therapeutics, a privately owned biotech company that develops customized nucleic acid and lipid nanoparticle technologies to empower genetic medicine.

The collaboration has already resulted in two new MRNA formulations, for which testing began on October 4, and has demonstrated encouraging anti-cancer activity in a preclinical model of colorectal cancer.

On March 3, ME Therapeutics shared that it is exploring a listing on the Nasdaq or the New York Stock Exchange.

3. Hemostemix (TSXV:HEM)

Year-on-year gain: 80 percent
Market cap: C$13.36 million
Share price: C$0.09

Hemostemix is a clinical-stage biotech company focused on developing autologous stem cell therapies, an approach that uses a patient’s own cells to theoretically enhance safety and efficacy. Its main product, ACP-01, is a cell therapy derived from a patient’s blood to promote tissue repair and regeneration in areas affected by disease.

The company announced its first sales orders for ACP-01 on January 29 and has been working to expand internationally and attract new investment.

Hemostemix is currently collaborating with Firefly Neuroscience on a Phase 1 clinical trial of ACP-01 for vascular dementia. As of writing, efforts to fully enroll the trial to its target size are underway.

4. Eupraxia Pharmaceuticals (TSX:EPRX)

Year-on-year gain: 17.07 percent
Market cap: C$173.51 million
Share price: C$5.28

Eupraxia Pharmaceuticals focuses on developing locally delivered therapeutics for patients with unmet medical needs. Its primary focus has been orthopedics and oncology. Eupraxia acquired EpiPharma Therapeutics in late 2023, absorbing the company’s lead candidate EP-104GI.

In February, the company released positive data from the sixth cohort of its Phase 1b/2a trial for EP-104GI in eosinophilic esophagitis. It plans to release additional data periodically, with 12 week data for the trial’s seventh cohort expected in late Q2 2025.

5. Microbix Biosystems (TSX:MBX)

Year-on-year gain: 4.48 percent
Market cap: C$48.17 million
Share price: C$0.35

Microbix Biosystems manufactures antigens and quality control products used in the development of diagnostic tests. They also develop products to ensure test accuracy.

In January, Microbix partnered with the American Proficiency Institute to launch a pilot program to validate the accuracy of molecular assays in testing the H5N1 strain of the influenza A virus.

In March, the company joined the EPICC HPV Elimination Partnership to support test accuracy by supplying materials to support the accuracy of HPV testing efforts. These strategic collaborations highlight the company’s commitment to ensuring reliable and accurate diagnostic testing worldwide.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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Nickel Price Update: Q1 2025 in Review

Investing 6 Mins Read

Nickel prices have largely trended down since breaking US$20,000 per metric ton in May 2024.

The decline has been attributed to refined nickel oversupply, driven by high output from Indonesia, which mined an estimated 2.2 million metric tons of nickel in 2024 and accounted for more than 50 percent of global output.

The threat of US tariffs has also weighed heavily on markets that are reliant on nickel and its downstream products, such as the stainless steel and electric vehicle battery industries.

These factors pushed nickel to five year lows in the US$15,000 range in Q1.

What happened to the nickel price in Q1?

Nickel price, January 2 to April 22, 2025.

Chart via Trading Economics.

While nickel has trended down for the past year, 2025 began with upward momentum. It opened the year at US$15,040 on January 2 and rose to US$16,080 before declining to close out the month at US$15,230.

Nickel prices started to gain briefly at the beginning of February, increasing to US$15,875 on February 6 before experiencing volatility until the end of the month, finishing at US$15,590 on February 28.

The start of March saw upward movement, and nickel hit a year-to-date high of US$16,720 on March 12.

Prices for the base metal remained above the US$16,000 mark until the end of March, when substantial pressures caused levels to plunge to US$14,150 on April 8.

What factors impacted nickel in Q1?

Over the past several years, oversupply has presented a significant headwind for nickel prices.

Due to heavy investment from China, Indonesia has emerged as the world’s dominant nickel supplier. However, even though its refined output has remained high, Indonesia has faced a tight nickel ore market because of reduced quotas, which have compelled smelters to import record volumes from the Philippines.

A recent Filipino government proposal to follow Indonesia’s lead in banning exports of raw nickel products could disrupt the situation and introduce further challenges for refiners, impacting global supply chains.

The proposal arose amid rumors of higher mining royalties that have circulated since the start of the year. This speculation boosted nickel prices as higher production costs started to be factored into prices.

The royalty hikes were approved on April 11, and will raise the current 10 percent rate to between 14 and 19 percent, depending on the nickel price. Lower-quality nickel mattes used in battery production will incur a 2 percent royalty.

Jason Sappor, senior analyst for metals and mining research at data provider S&P Global Commodity Insights, noted that the increase will pose another challenge for the industry.

Indonesian nickel miners previously asked the government to reconsider the change.

In a letter to government officials, industry stakeholders stated that the increases to mining royalty levels in the country are “unrealistic and do not reflect the current state of the industry.”

Another factor that impacted the nickel industry during the first quarter of the year was the threat and eventual implementation of US tariffs against China, the world’s largest consumer of nickel.

Ewa Manthy, commodities strategist with ING, suggested tariffs will further impact a beleaguered nickel market.

“London Metal Exchange (LME) nickel has been mostly rangebound amid heightened trade tensions,’ she said.

Manthy’s prediction has held true so far, with nickel prices plummeting 11.5 percent in the week following US President Donald Trump’s tariff announcement on April 2. The move has sparked fears among investors who worry that the escalating trade war will push the world into a global recession.

Even though nickel rebounded after Trump put a pause on larger reciprocal tariffs, there is still a high level of uncertainty regarding nickel demand, especially as the effective tariff rates on China have grown to 145 percent.

Tariffs set to weigh on weak nickel demand

Tariffs are unlikely to affect nickel supply in the short term; however, they could significantly impact demand. The effects will be more pronounced in the US, as tariffs will more than double the costs of goods from China for importers.

The primary destination for nickel is the production of stainless steel.

While long-term global demand is expected to remain robust, with refined nickel projected to see a 4.6 percent compound annual growth rate between 2023 and 2035, there are more immediate headwinds.

Demand for stainless steel in China’s housing sector and slower growth in home appliances has dragged down overall nickel demand in the Asian nation. Although the overall effects could be worse, government policy and stimulus have only provided marginal support. Chinese stainless steel markets were also affected as new carbon tariffs and anti-dumping duties from Europe’s carbon border adjustment mechanism came into effect.

This has led analysts to predict another year of surpluses in China’s stainless steel market, with production increasing by 10.6 percent year-on-year in the first quarter and March output coming to 3.58 million metric tons. Even so, stockpiles stand at 155,000 metric tons, down significantly from 333,000 metric tons in Q1 2024.

The size of the stainless steel market may help moderate a decline in demand from the electric vehicle battery market, which is another significant destination for nickel. According to an April 14 report from S&P Global, the fall in battery demand comes despite growing demand for electric vehicles in both China and Europe; this has been attributed to producers transitioning to nickel-free battery chemistries, particularly lithium-iron-phosphate.

Producers see a greater cost advantage in this composition, and the switch has caused demand for nickel-manganese-cobalt batteries to shrink by 19 percent from January to February.

Due to this fallout, battery precursor producer CNGR Advanced Material (SZSE:300919) said it would be pausing investment in its South Korean nickel smelting project.

The battery sector represented 11.5 percent of total nickel demand in 2024.

Nickel price forecast for 2025

The short term for nickel could very well hinge on how Trump’s tariffs affect the global economy.

“A slowdown in global economic activity would have a detrimental impact on China’s exports of nickel-containing consumer goods, denting global primary nickel demand in a market already grappling with oversupply due to expanding production in top primary nickel producers Indonesia and China,” Sappor said.

He added that weaker fundamentals will likely increase bearishness in the nickel market and ultimately work to further depress prices for the base metal on the LME.

“Considering these potential dynamics as well as further evolutions in the Trump administration’s trade tariff policies, we expect nickel prices to remain volatile in the near term,” Sappor stated.

Manthy is also pessimistic about a market turnaround in the near to medium term.

“The main downside risk to our supply and demand outlook is further downgrades to nickel demand from the electric vehicle sector, but this could be offset by no growth in Indonesian supply. The medium-term supply and demand balance is not supportive of a significant rise in nickel prices,” she said.

For investors, a bear market might provide opportunities, but the risk is that nickel prices may still have a ways to go before they bottom out. The next quarter could offer more certainty in global financial markets.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

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Business

RTX, GE Aerospace expect more than $1 billion tariff impact

Business 2 Mins Read

RTX and GE Aerospace expect a more than $1 billion impact combined from President Donald Trump’s tariffs on imported goods and materials, the latest sign of higher prices for major U.S. manufacturers that rely on a global supply chain.

Neil Mitchill, chief financial officer of defense contractor and commercial aerospace supplier RTX, said on an earnings call Tuesday that the company will likely take a $850 million hit this year from tariffs, including the sweeping 10% levies that Trump imposed earlier this month alongside higher duties on countries like China and separate taxes on imported steel and aluminum.

That estimate doesn’t include RTX’s own tariff mitigation measures, Mitchill said.

GE Aerospace, which makes engines for popular Boeing and Airbus planes, kept its 2025 earnings outlook in place during its quarterly report Tuesday and said it would seek to save about $500 million by cutting costs and raising prices.

GE Aerospace CEO Larry Culp said on Tuesday’s analyst call that he recently met with Trump and discussed the U.S. aerospace sector’s trade surplus. GE has a joint venture with France’s Safran to make popular airplane engines.

The new tariffs are a shift for a global industry that has enjoyed mostly duty-free trade for decades.

“All we have suggested is the administration works through a myriad of issues, is they can consider the position of strength that the country enjoys as a result of this tariff-free regime,” Culp said.

The White House didn’t immediately comment.

Boeing, a major customer of both companies and the top U.S. exporter, is scheduled to report quarterly results before the market opens on Wednesday.

Airlines have recently announced cuts to U.S. domestic capacity plans this year because of softer demand, but executives have emphasized it is hard to predict the direction of the economy or future trade policies. United last week provided two earnings outlooks for 2025, one in the event of a recession, one assuming status quo.

“There is uncertainty,” Culp said Tuesday. “None of us, I think, know for sure how this plays out.”

This post appeared first on NBC NEWS

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Business

’60 Minutes’ producer leaves show, citing a loss of journalistic independence

Business 4 Mins Read

The top producer at CBS’ “60 Minutes” announced Tuesday he would step down from the newsmagazine because he had lost his journalistic independence.  

“Over the past months, it has … become clear that I would not be allowed to run the show as I have always run it,” Bill Owens said in a memo to staff members, which was obtained by NBC News. “To make independent decisions based on what was right for ‘60 Minutes,’ right for the audience.” 

“So, having defended this show — and what we stand for — from every angle, over time with everything I could, I am stepping aside so the show can move forward,” Owens added.  

Owens’ departure comes during a tumultuous chapter for “60 Minutes.” President Donald Trump has sued CBS for $10 billion over an October interview with then-Vice President Kamala Harris that the president claims was deceptively edited. The network has denied that claim. 

Trump amended the lawsuit earlier this year, upping his damages claim to $20 billion.

“Former President Donald Trump’s repeated claims against ‘60 Minutes’ are false,” CBS News said in a statement in October. “The interview was not doctored” and the show “did not hide any part of Vice President Kamala Harris’s answer to the question at issue.”  

In a separate statement, “60 Minutes” said it gave an excerpt from its interview with Harris to the Sunday morning program “Face the Nation,” which used a longer section of the former Democratic presidential candidate’s answer to a question.

“Same question. Same answer. But a different portion of the response. When we edit any interview, whether a politician, an athlete, or movie star, we strive to be clear, accurate and on point,” the statement said. “The portion of her answer on 60 Minutes was more succinct, which allows time for other subjects in a wide ranging 21-minute-long segment.”  

Bill Owens, Executive Producer of 60 Minutes, CBS News, in Toronto on June 22, 2022.Piaras Ó Mídheach / Sportsfile via Getty Images file

Trump has repeatedly lambasted the venerable newsmagazine over its reporting on him and his administration.  

In a post on Truth Social on April 13, for example, Trump wrote: “Almost every week, 60 Minutes … mentions the name ‘TRUMP’ in a derogatory and defamatory way, but this Weekend’s ‘BROADCAST’ tops them all.” He appeared to take issue with segments about the war in Ukraine and his interest in acquiring Greenland.  

Trump added that he believed CBS should lose its broadcast license and “pay a big price.” He said he hoped Federal Communications Commission Chairman Brendan Carr would “impose the maximum fines and punishment.”   

Owens’ exit, first reported by The New York Times, also comes at a pivotal moment for CBS’ parent company, Paramount. Shari Redstone, Paramount’s controlling shareholder, reportedly needs the Trump administration to approve her media conglomerate’s sale to Skydance Media, a production and finance company run by David Ellison, the son of tech mogul Larry Ellison. 

The New York Times reported in late January that Paramount was in settlement talks with Trump. The Times later reported that Owens told staff members he would not apologize for the Harris interview as part of any prospective settlement. NBC News has not independently verified either report. 

In his memo to staff, Owens said “60 Minutes” would “continue to cover the new administration, as we will report on future administrations. We will report from war zones, investigate injustices and educate our audience. In short, ‘60 Minutes’ will do what it has done for 57 years.”  

“Thank you all, remain focused on the moment, our audience deserves it,” Owens said in closing.  

Wendy McMahon, president and CEO of CBS News, notified company employees by email that Owens would be leaving and touted his work at the company.

“Tom and I are committed to 60 Minutes and to ensuring that the mission and the work remain our priority,” McMahon said, referring to CBS News president and executive editor Tom Cibrowski. 

This post appeared first on NBC NEWS

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Stock

The Best Five Sectors, #16

Stock 4 Mins Read

Top 5 Remains Unchanged

The latest sector rotation analysis reveals a market that’s still playing defense. Despite some minor shuffling in the lower ranks, the top five sectors remain unchanged this week—a sign that the current defensive positioning is settling into a more stable pattern.

Consumer staples is holding its ground at the number one spot, followed by utilities, financials, communication services, and health care. This lineup underscores the market’s continued preference for defensive plays.

  1. (1) Consumer Staples – (XLP)
  2. (2) Utilities – (XLU)
  3. (3) Financials – (XLF)
  4. (4) Communication Services – (XLC)
  5. (5) Healthcare – (XLV)
  6. (6) Real-Estate – (XLRE)
  7. (8) Industrials – (XLI)*
  8. (9) Consumer Discretionary – (XLY)*
  9. (10) Materials – (XLB)*
  10. (7) Energy – (XLE)*
  11. (11) Technology – (XLK)

Weekly RRG

The weekly Relative Rotation Graph (RRG) paints a clear picture of the defensive sectors’ strength. Consumer staples and utilities are continuing to move further into the leading quadrant, solidifying their dominant positions. Healthcare, while ranked fifth, is located within the leading quadrant, but has lost some relative momentum over the past two weeks — something to keep an eye on.

Interestingly, financials and communication services, ranked third and fourth respectively, are showing signs of momentum loss, despite maintaining elevated RS ratio levels. Communication services have actually crossed into the weakening quadrant this week. At current RS-Ratio levels, this is not too concerning yet.

Daily RRG: Staples and Utilities Slightly Losing Relative Momentum

Zooming in on the daily RRG provides some nuanced insights. Staples and utilities, while still disconnected from other sectors at high RS ratio levels, have lost some relative momentum in the last week. Utilities have dipped into the weakening quadrant on this timeframe, but, given its high relative strength (RS) ratio, it’s not a major concern, at least not yet.

Financials and health care are also in the weakening quadrant on the daily RRG, but they’re flirting with the 100 level on the RS ratio scale. We haven’t seen a crossover yet, but it’s definitely a situation to be aware of.

One bright spot: communication services, despite being in the lagging quadrant, is showing signs of rolling back up. This aligns with its positive heading on the weekly RRG, suggesting potential improvement ahead.

Consumer Staples (XLP)

XLP is flexing its muscles, pushing against overhead resistance—a show of strength, given the S&P 500’s weakness. A break above the 83 area could unlock more upside potential, further cementing Staples’ defensive appeal. The relative strength line is attempting to break above horizontal resistance, dragging both RRG lines higher and pushing XLP deeper into the leading quadrant.

Utilities (XLU)

Utilities are showing a similar pattern to staples, though not quite as robust. XLU has retreated into its trading range, between roughly 73 and 80, currently sitting in the mid-range. Given the broader market weakness, this is still a positive setup for utilities. The sector is attempting to break above its relative resistance, which is propelling the RRG lines above 100 and deeper into the leading quadrant.

Financials (XLF)

Financials took a hit but found support around 42, bouncing strongly back towards the 47-47.50 resistance area. This sets up a limited upside potential, but the downside seems well-protected for now. The raw relative strength uptrend remains intact, keeping XLF in the leading quadrant, despite some leveling off of the RRG lines.

Communication Services (XLC)

XLC has been the biggest loser among the top sectors, breaking support around 95 and declining rapidly to support near 82.50. We’re currently seeing a bounce off that support. Relative strength is maintaining its rising channel, keeping the RS ratio well above 100. However, the momentum line has dipped below 100, temporarily pushing XLC into the weakening quadrant. The uptrend in relative strength is still in play, though — something to watch closely.

Health Care (XLV)

Healthcare is struggling, grappling with support between $132.50 and $135. A potential head-and-shoulders top formation is developing — a pattern we’re seeing in several sectors, to be honest. XLV is clearly the weakest of the top five, explaining its fifth-place ranking. Relative strength is struggling to maintain its upward trajectory. While both RRG lines remain above 100, we need to see a clear break in relative strength and the formation of an uptrend in order for healthcare to maintain its top-five status.

RRG Portfolio Performance

An update on our RRG portfolio of top five sectors: As of Friday’s close, the portfolio is down 10.2% year-to-date, compared to the S&P 500’s (using SPY as the benchmark) decline of 9.96%. This has resulted in a slight underperformance of 0.2%. However, it’s worth noting that we’re catching up to the benchmark after last week’s more significant underperformance — we’re on the rise again.

#StayAlert –Julius

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Safer Stock Picks for an Uncertain Market (High Yield + Growth)

Stock 1 Min Read

In this video, as earnings season heats up, Mary Ellen reviews current stock market trends, highlighting top-performing stocks during past bear markets that are showing strength again today. She also shares a proven market timing system that’s signaled every stock market bottom, helping investors stay ahead of major turning points.

This video originally premiered April 18, 2025. You can watch it on our dedicated page for Mary Ellen’s videos.

New videos from Mary Ellen premiere weekly on Fridays. You can view all previously recorded episodes at this link.

If you’re looking for stocks to invest in, be sure to check out the MEM Edge Report! This report gives you detailed information on the top sectors, industries and stocks so you can make informed investment decisions.

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Stock

DP Trading Room: Long-Term Outlook for Bonds

Stock 2 Mins Read

The market continued to slide lower today as the bear market continues to put downside pressure on stocks in general. Bonds and Yields are at an inflection point as more buyers enter the Bond market which is driving treasury yields higher. What is the long-term outlook for Bonds? Carl gives you his thoughts.

First, Carl covered the market as a whole before discussing his long-term outlook for Bonds and Yields. Not only did he cover the SPY and its indicators, he looked at the rally in Bitcoin and the vertical rally for Gold among others. Crude Oil is pulling back again and the Dollar continues to lose strength.

After covering the market, he discusses his thoughts on Bonds. This was followed by questions.

Erin jumped in to cover sector rotation. There are clear problems and clear strength visible among the sectors, but ultimately all are struggling including defensive sectors Utilities and Real Estate. She zeroed in on the Energy sector and Consumer Staples sector “under the hood”.

Finally the pair finished by taking viewer symbol requests.

01:01 DP Signal Tables

05:03 Market Overview

13:28 Bond Discussion

17:08 Magnificent Seven

22:56 Questions

30:07 Sector Rotation

40:04 Symbol Requests

Learn more about DecisionPoint.com:

Watch the latest episode of the DecisionPointTrading Room on DP’s YouTube channel here!

Try us out for two weeks with a trial subscription!

Use coupon code: DPTRIAL2 Subscribe HERE!

Technical Analysis is a windsock, not a crystal ball. –Carl Swenlin

(c) Copyright 2025 DecisionPoint.com

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.

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Bearish Warning: 3 Market Sentiment Indicators You Can’t Ignore

Stock 1 Min Read

In this video, market sentiment, investor psychology, and stock market trends take center stage as David Keller, CMT, shares three powerful sentiment indicators that he tracks every week. He explains how the values are derived, what the current readings say about the market environment in April 2025, and how these levels compare to past bull markets and bear markets. If you’re looking for a sentiment playbook to navigate these markets, this analysis will give you the edge.

This video originally premiered on April 21, 2025. Watch on StockCharts’ dedicated David Keller page!

Previously recorded videos from Dave are available at this link.

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Stock

Three Stocks to Watch This Earnings Week

Stock 5 Mins Read

Tesla Inc. (TSLA)

Tesla, Inc. (TSLA) remains one of the world’s most volatile and discussed stocks, with Elon Musk’s political bent having made it a lightning rod of discussion. Sales continue to fall – especially in Europe – and Musk’s personal focus seems to be on many other areas. It will be interesting to see how the numbers look and what if any guidance may be given when Tesla reports on Tuesday afternoon.

Technically, shares have made a full reversal since their post-election rally and now sit poised to move again. This is not an ideal-looking chart for the bulls, as key levels of support have been breached, the near-term trend is lower, and the long-term trend is a volatile mess.

FIGURE 1. DAILY CHART OF TESLA STOCK PRICE.

Currently, there’s a descending triangle in a near-term downtrend, with a floor around $215. It has been tested twice and held, but each rally continues to be met with strong resistance. There is more overhead resistance and work to be done to get shares on the right ascending track.

During a rally, there are three levels where sellers should take charge. The first level coincides with the current triangular downtrend line and old support, now resistance, which goes back to its pre-election breakout around $270. Then there is also the 200-day moving average just over $290. Lastly, there is the downtrend from the recent highs at the $300 level.

Momentum favors the bears on any rally, and weakness could plunge the stock towards its August 2024 lows around $180. It is not an ideal risk/reward set-up going into the numbers. Both key momentum indicators — relative strength index (RSI) and moving average convergence/divergence (MACD) — appear to be stalling, which makes this stock one to avoid despite all the news it may cause later this week.

Service Now (NOW)

ServiceNow, Inc. (NOW) shares have been decimated since reporting earnings last January. The software company, the fourth-largest company in the iShares Tech-Software ETF (IGV), looks to rebound when it reports earnings after the close on April 23.

Technically, recent price action is showing signs of a bottom, and the risk/reward set-up is getting clear.

FIGURE 2. DAILY CHART OF SERVICE NOW.

The sell-off reached a crescendo after “Liberation Day” and snapped back to levels that set up a plan of attack as we go into this week’s earnings. Shares reached extreme oversold conditions on both the MACD and RSI readings before hitting recent lows. Price action on the biggest move lower showed a divergence in both indicators, and didn’t confirm that last move down.

There are two bullish divergences after a severe drawdown, which is a positive. The Fibonacci retracement levels from the beginning of the bull market to its recent peak also show a positive development. The sell-off found support right at the 61.8% “golden ratio” level, which coincided with prior support going back to the lows of 2024.

Momentum is turning, a floor seems to be apparent, and we have something to reverse – all good signs for a bull case. While the moves are rather wide, targets to the downside look to be set just above $675.

To the upside, a simple mean reversion takes shares back to their declining 50-day moving average just above $865. If it breaks above there, watch for a test of the 200-day moving average, which is another $60 higher.

If you were to believe that a solid number is coming on Wednesday afternoon, as it has in all but one quarter going back to 2018 (last quarter they missed), then it may be a good entry point to capture the upside. However, as it sits in the middle of a range, it’s more of a coin flip here. Currently, it looks as though we have a sell-off that should be bought and a rally that should be faded.

One thing we do know is that it will be interesting to see if the stock can try to recapture its longer-term uptrend in a rather tricky tape.

Alphabet, Inc. (GOOGL)

Alphabet (GOOGL) continues to make headlines as it deals with ongoing litigation in Washington and competition from search engines like ChatGPT. Shares have been under pressure all year and are at a fork in the road coming into their Thursday numbers.

FIGURE 3. WEEKLY CHART OF GOOGL STOCK.

We kept this weekly chart as simple as possible to show this “fork-in-the-road” scenario. At the end of 2024, the chart completed a beautiful saucer bottom pattern and broke out. It almost achieved its upside targets around $220, but fell just short.

Then it broke down.

After its initial breakout, GOOGL rallied and paused. Price faded back to test old resistance after its initial leg higher. That level of old resistance became support, in textbook fashion. Shares rallied from there to make new all-time highs; then, they failed again.

Now, GOOGL sits at a key level that was tested once last week and held. Shares never closed below the key support area around $150. That sets traders up with a risk/reward scenario that seems favorable, for now. Anyone buying the stock here has two levels from which to cut their losses if price were to break down from here.

Watch the recent intraday lows at $140.50 and then the rising 200-week moving average at $136. If it closes below there, you should exit the stock and wait for a better entry point. 

To the upside, there is smooth sailing to the 50-week moving average just above $172. It may take a strong beat and guide in this macro environment to push much higher, but the lines are set as we head into this busy week of earnings. 

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Investing

Athena Gold Upsizes Flow-Through Private Placement, Announces Concurrent Hard Dollar Unit Offering

Investing 6 Mins Read

Athena Gold Corporation (CSE:ATHA) (OTCQB:AHNR) (‘Athena Gold’ or the ‘Company’) is pleased to announce that due to strong demand, the Company has increased the size of the non-brokered flow-through private placement previously announced on April 7, 2025, from $500,000 to $700,000 (the ‘FT Offering’). The FT Offering, as amended, will now consist of up to 14,000,000 flow-through common shares (the ‘FT Shares’) (increased from 10,000,000 FT Shares) at a price of $0.05 per FT Share. All other terms of the FT Offering remain unchanged.

Non-Flow-Through Unit Private Placement

The Company further announces a non-brokered private placement for gross proceeds of up to $200,000 comprised of up to 4,000,000 units (each, a ‘Unit’) at a price of $0.05 per Unit (the ‘NFT Offering’).

Each Unit consists of one non-flow-through common share in the capital of the Company (a ‘NFT Common Share’) and one-half of a common share purchase warrant (a ‘Warrant’). Each whole Warrant is exercisable into one NFT Common Share at a price of $0.12 per Warrant for a period of thirty-six months from the date of issuance, subject to the following acceleration provision. If, at any time after the date that is 4 months and one day after the date of issuance of the Warrants, the average volume weighted trading price of the Company’s Common Shares on the Canadian Securities Exchange is at or above $0.20 per share for a period of 10 consecutive trading days (the ‘Triggering Event’), the Company may at any time, after the Triggering Event, accelerate the expiry date of the Warrants by giving ten calendar days notice to the holders of the Warrants, by way of news release, and in such case the Warrants will expire on the first day that is 30 calendar days after the date on which such notice is given by the Company announcing the Triggering Event.

The securities to be issued under the NFT Offering will be offered pursuant to Section 2.3 of National Instrument 45-106 (the ‘accredited investor’ exemption). All securities issued in connection with the NFT Offering will be subject to a hold period which will expire four months and one day from the date of closing of the NFT Offering.

A finder’s fee may be paid in connection with the NFT Offering to eligible arm’s length finders in accordance with CSE policies and applicable securities laws. The NFT Offering is subject to several conditions, including receipt of all necessary corporate and regulatory approvals, including that of the Board and the Canadian Securities Exchange (‘CSE’).

Insiders may participate in the NFT Offering and will be considered a related party transaction subject to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘MI 61-101’). The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under subsections 5.5(a) and 5.7(a) of MI 61-101 on the basis that participation in the NFT Offering by insiders will not exceed 25% of the fair market value of the Company’s market capitalization.

Proceeds of the NFT Offering will be used to fund exploration work on the Company’s various properties.

None of the foregoing securities have been or will be registered under the United States Securities Act of 1933, as amended (the ‘1933 Act’) or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Athena Gold Corporation

Athena Gold is engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct additional exploration drilling and studies on its projects across North America. Athena Gold’s Excelsior Springs Au-Ag project is located in the prolific Walker Lane Trend in Nevada. Excelsior Springs spans 1,675 ha and covers at least three historic mines along the Palmetto Mountain trend, where the Company is following up on a recent shallow oxide gold discovery, with drill results including 5.35 g/t Au over 33.5 m. Meanwhile, the Company’s new Laird Lake project is situated in the Red Lake Gold District of Ontario, covering 4,158 hectares along more than 10 km of the Balmer-Confederation Assemblage contact, where recent surface sampling results returned up to 373 g/t Au. This underexplored area is road-accessible, located about 10 km west of West Red Lake Gold’s Madsen mine and 34 km northwest of Kinross Gold’s Great Bear project.

For further information about Athena Gold Corporation and our Excelsior Springs Gold project, please visit www.athenagoldcorp.com.

On Behalf of the Board of Directors

Koby Kushner

President and Chief Executive Officer, Athena Gold Corporation

For further information, please contact:

Athena Gold Corporation

Koby Kushner, President and Chief Executive Officer

Phone: 416-846-6164

Email: kobykushner@athenagoldcorp.com

CHF Capital Markets

Cathy Hume, CEO

Phone: 416-868-1079 x 251

Email: cathy@chfir.com

Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information (collectively, ‘forward-looking statements’) within the meaning of applicable Canadian and US. securities laws. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding future exploration plans, future results from exploration, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: ‘believes’, ‘will’, ‘expects’, ‘anticipates’, ‘intends’, ‘estimates’, ”plans’, ‘may’, ‘should’, ”potential’, ‘scheduled’, or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this press release, the Company has applied several material assumptions, including without limitation, that there will be investor interest in future financings, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration and development of the Company’s projects in a timely manner.

The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various risk factors as disclosed in the final long form prospectus of the Company dated August 31, 2021.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this press release or incorporated by reference herein, except as otherwise stated.

Source

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