Midday Alert: Petrolympic Ltd. (CDX:PCQ:CA) Pressures TSX Venture Basic Materials Stocks with 3.57% Decline in Morning Trading on February 7
Petrolympic Ltd. (CDX:PCQ:CA) is amongst the weakest basic materials stocks listed on the TSX Venture Exchange through noon on February 7, with a fall of 3.57%. After closing the previous session at $0.14, shares of PCQ:CA opened this morning at $0.135 and are currently trading at $0.135. At the lunch break, about 6,150 shares have changed hands, compared to an average 30-day volume of 20,913 for Petrolympic Ltd.. Shares moved as high as $0.135 and as low as $0.13 in today’s morning action.
The share depreciation gives the company a market capitalization of $14.77 million based upon 105.51 million shares outstanding.
In the past 52 weeks, shares of Petrolympic Ltd. have traded as low as $0.075 and as high as $0.19. Technical traders will take note that at $0.135, shares of PCQ:CA are trading below their 50-day moving average (MA) at $0.136 and above their 200-day MA at above $0.111. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move beneath or holding under them is typically regarded as bearish.
Who is $Petrolympic?
Petrolympic Ltd is an exploration company. The Company is engaged in the acquisition, exploration and development of petroleum and natural gas properties. The company is led by its CEO Mendel Ekstein from its headquarters at 36 Toronto Street.
For more information on Petrolympic 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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Source: Financial Press News
(February 8, 2017 - 1:31 AM EST)
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