Relentless Resources Ltd. (CDX:RRL:CA) Advances 7.14% on December 21, Leads TSX Venture Basic Materials Sector
With an advance of 7.14%, Relentless Resources Ltd. (CDX:RRL:CA) was one of the best performing basic material stocks listed on the TSX Venture on December 21. After closing the previous session at $0.07, shares of RRL:CA opened this morning at $0.075 and closed the day at $0.075. Throughout the day, about 32,000 shares changed hands, compared to an average 30-day volume of 18,194 for Relentless Resources Ltd.. Shares moved as high as $0.075 and as low as $0.075 in today’s trading action.
The share appreciation gives the company a market capitalization of $4.9 million based upon 70.06 million shares outstanding.
In the past 52 weeks, shares of Relentless Resources Ltd. have traded as low as $0.055 and as high as $0.11. Technical traders will take note that at $0.075, shares of RRL:CA are trading above their 50-day moving average (MA) at $0.071 and below their 200-day MA at below $0.086. 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 $Relentless?
Relentless Resources Ltd is an oil and natural gas company. The Company is engaged in exploration, development, acquisition and production of natural gas and medium to light gravity crude oil reserves in Alberta. The company is led by its CEO Daniel Wilson from its headquarters at 700-4th Avenue SW.
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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
(December 21, 2016 - 9:25 PM EST)
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