Canadian Overseas Petroleum Limited (CDX:XOP:CA) Advances 2.94% on November 21, Leads TSX Venture Basic Materials Sector

With an advance of 2.94%, Canadian Overseas Petroleum Limited (CDX:XOP:CA) was one of the best performing basic material stocks listed on the TSX Venture on November 21. After closing the previous session at $0.17, shares of XOP:CA opened this morning at $0.175 and closed the day at $0.175. Throughout the day, about 1.96 million shares changed hands, compared to an average 30-day volume of 1.81 million for Canadian Overseas Petroleum Limited. Shares moved as high as $0.175 and as low as $0.17 in today’s trading action.

The share appreciation gives the company a market capitalization of $104.61 million based upon 615.36 million shares outstanding.

In the past 52 weeks, shares of Canadian Overseas Petroleum Limited have traded as low as $0.015 and as high as $0.18. Technical traders will take note that at $0.175, shares of XOP:CA are trading above their 50-day moving average (MA) at $0.142 and above their 200-day MA at above $0.092. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move above them or holding over them is typically regarded as bullish.

Who is $Cdn Overseas?

Canadian Overseas Petroleum Ltd is an oil and gas exploration and development company. It is engaged in the identification, acquisition, exploration and development of oil and natural gas offshore reserves in West Africa. The company is led by its CEO Arthur S. Millholland from its headquarters at 715 – 5th Avenue SW.

For more information on Cdn Overseas and other companies trading on the TSX Venture Exchange, as well as other Canadian and American stock exchanges, or to be considered for contributing content for our distribution network, visit FinancialPress.com today.

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About the TSX Venture Exchange

Owned and operated by the TMX Group, the TSX Venture Exchange is a public venture capital marketplace for emerging companies. It is headquartered in Calgary, Alberta, Canada with offices in Toronto, Vancouver and Montreal. All trading on the exchange is done electronically. Originally established in 1999, the “Venture,” as it is often shortened, was previously known as the Canadian Venture Exchange, but renamed in 2001 subsequent to the TSX Group (now known as the TMX Group) purchasing it.

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