Midday Alert: Petrox Resources Corp. (CDX:PTC:CA) Pressures TSX Venture Basic Materials Stocks with 33.33% Decline in Morning Trading on November 18
Petrox Resources Corp. (CDX:PTC:CA) is amongst the weakest basic materials stocks listed on the TSX Venture Exchange through noon on November 18, with a fall of 33.33%. After closing the previous session at $0.015, shares of PTC:CA opened this morning at $0.01 and are currently trading at $0.01. At the lunch break, about 5,000 shares have changed hands, compared to an average 30-day volume of 22,638 for Petrox Resources Corp.. Shares moved as high as $0.01 and as low as $0.01 in today’s morning action.
The share depreciation gives the company a market capitalization of $826,983 based upon 55.13 million shares outstanding.
In the past 52 weeks, shares of Petrox Resources Corp. have traded as low as $0.005 and as high as $0.025. Technical traders will take note that at $0.01, shares of PTC:CA are trading below their 50-day moving average (MA) at $0.014 and below their 200-day MA at below $0.012. 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 $Petrox Res?
Petrox Resources Corp is an oil and gas company. The Company is engaged in the acquisition, exploration, development and production of petroleum and natural gas in Canada. The company is led by its CEO Edwin S. L. Tam from its headquarters at 505 - 6th Street SW.
For more information on Petrox Res 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
(November 18, 2016 - 6:23 PM EST)
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