US and Canadian markets settled this week on a mixed note, Two stocks to consider – OM, ONDS

Company Overview: Osisko Metals Incorporated (TSXV: OM) is a Canadian exploration and development company focused on creating value in the base metals sector, particularly in copper and zinc. Ondas Holdings Inc. (NASDAQ: ONDS) is a U.S.-based technology company specializing in advanced wireless communication and autonomous drone solutions. The company operates through two primary divisions: Ondas Networks and Ondas Autonomous Systems. The Report covers the Price Action, Technical Indicators Analysis along with the Stop Loss Levels, Target Prices, and Recommendations on these two stocks. 

Global Markets Wrap-Up 

As of May 8, 2025, major U.S. equity benchmarks recorded week-to-date (WTD) losses amid broad-based sector declines. The S&P 500 fell 0.40%, closing the week at 5,663.94, while the NASDAQ Composite slipped 0.28% to 17,928.14, weighed down by continued weakness in the technology sector. In contrast, the Russell 2000 tracking small-cap stocks posted a modest WTD gain of 0.28%, closing at 2,026.41, though it continued to lag behind its large-cap peers in relative performance.

In Canada, the S&P/TSX Venture Composite Index (TSX: ^JX) recorded a solid 3.45% week-to-date (WTD) gain, closing at 679.04 as of May 8. The index maintained its broader upward momentum, with Thursday’s session highlighting strength across multiple sectors, including technology, consumer cyclicals, industrials, energy, healthcare, financials, consumer non-cyclicals, and real estate. These gains provided a degree of support to the market. However, ongoing weakness in the basic materials sector continued to act as a drag on overall sentiment, limiting the index’s upside potential.

Considering the US and Canadian markets’ performance over the week, following the significant global macros and data front, two stocks that fit the criteria on the technical framework: Osisko Metals Incorporated (TSXV: OM) and Ondas Holdings Inc. (NASDAQ: ONDS). The recommendations on these stocks are based on the generic insights, entry price, target prices, and stop-loss for the next 2-6 weeks:

Osisko Metals Incorporated (TSXV: OM)

Noted below are the key price indicators for the stock:

Price Action Analysis (On the Weekly Chart)

On the weekly chart, OM continues to hold above a critical horizontal support trendline, signalling sustained price strength and reinforcing the potential for further upside in the near term. The stock is steadily approaching a key resistance level around CAD 0.520, which may be tested within the next 2 to 6 weeks if the current upward momentum remains intact. A decisive breakout above this resistance zone could serve as a bullish catalyst, drawing increased buying interest and potentially paving the way for continued gains beyond that threshold.

Technical Analysis (On the Weekly Chart)

The 14-period Relative Strength Index (RSI) for the stock currently sits at 63.38, reflecting strong bullish momentum while remaining below the overbought threshold of 70 indicating room for further upside. This positive momentum is reinforced by supportive weekly trading volumes, which confirm sustained buying interest. Additionally, the stock remains above its 21-period Simple Moving Average (SMA), a widely respected trend-following indicator, further validating the strength of the ongoing upward trend.

General Recommendation:

As per the above-mentioned price action and technical indicators analysis, Osisko Metals Incorporated is looking technically well-placed on the chart, and a ‘Speculative Buy’ recommendation has been given on the stock. The summary of recommendations is as follows:

Ondas Holdings Inc. (NASDAQ: ONDS)

Noted below are the key price indicators for the stock:

Price Action Analysis (On the Daily Chart)

On the daily chart, ONDS stock remains firmly supported above a key horizontal trendline, underscoring the potential for continued upward momentum in the near term. The next significant resistance level is positioned around USD 0.920 a level that may be tested within the next 2 to 6 weeks if the current price trend holds. A confirmed breakout above this resistance zone could act as a bullish trigger, drawing in additional buying interest and potentially initiating a more sustained uptrend. The broader technical outlook remains constructive, supported by improving sentiment and rising market optimism, provided the stock continues to respect its foundational support level.

Technical Analysis (On the Daily Chart)

On the daily chart, the 14-period Relative Strength Index (RSI) is at 46.42, reflecting neutral-to-moderately bullish momentum. Weekly trading volumes indicate a consistent undercurrent of buying interest, adding weight to the possibility of upward movement. However, the stock is still trading below its 21-period Simple Moving Average (SMA), which currently acts as dynamic resistance.

General Recommendation:

As per the above-mentioned price action and technical indicators analysis, Ondas Holdings Inc. is looking technically well-placed on the chart, and a ‘Speculative Buy’ recommendation has been given on the stock. The summary of recommendations is as follows:

Investment decisions 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.

Upcoming Major Global Economic Events 

Market events occur daily depending on the data's frequency and generally include updates on CPI, PPI, Core Retail Sales, Unemployment Data, etc. The upcoming week's major global economic events that could impact the S&P/TSX Venture Composite Index and listed stocks' prices are noted below.

Related Risks: This report may be looked at from a high-risk perspective and recommendation is provided 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.

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. 

Kalkine reports are prepared based on the stock prices captured from either REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’ 

Note 1: Individuals can consider exiting from the stock if the Target Price or Stop loss mentioned as per the technical analysis has been achieved and subject to the factors discussed above. 

Note 2: How to Read the Charts?

The Green color line reflects the 21-period moving average, while the red color line indicates the 50-period moving average. SMA helps to identify existing price trend. If the prices are trading above the 21-period and 50-period moving average, then it shows prices are currently trading in a bullish trend.

The Black color 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.

The Blue color bars in the chart's lower segment show the volume of the stock. The volume is the number of shares that changed hands during a given day. Stocks with high volumes are more liquid than stocks with lesser volume. Liquidity in stocks helps in easier and faster execution of the order.

The Orange color lines are the trend lines drawn by connecting two or more price points and used for trend identification purposes. The trend line also acts as a line of support and resistance.

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: In general, it is a level to protect further losses in case of unfavorable movement in the stock prices.

Risk Reward Ratio: The risk reward ratio is the difference between an entry point to a stop loss and profit level and the report is based on ~80% Stop Loss of the Target 1 from the entry point.

A trailing stop-loss is a modification of stop-loss in case of favorable movement in the price to protect the gains. Individual can Trail the Stop-Loss as per the levels if the stock price achieves more than 50% of the Target 1. Individual should consider exiting from the position as per the Trailing Stop-Loss level if the price starts moving downwards after achieving more than 50% of the Target 1.

The reference date for all price data, currency, technical indicators, support, and resistance levels is May 08, 2025. The reference data in this report has been partly sourced from REFINITIV.

Abbreviations

CMP: Current Market Price

SMA: Simple Moving Average

CAD: Canadian Dollar

RSI: Relative Strength Index

USD: United States dollar 

Note: Trading decisions require a thorough analysis by individuals. Technical reports in general chart out metrics that may be assessed by individuals before any stock evaluation. The above are illustrative analytical factors used for evaluating the stocks; other parameters can be looked at along with additional risks per se. Past performance is neither an indicator nor a guarantee of future performance.