Home / Market Movers / Midday Alert: ABE Resources Inc. (CDX:ABE:CA) Pressures TSX Venture Basic Materials Stocks with 16.67% Decline in Morning Trading on September 22

Midday Alert: ABE Resources Inc. (CDX:ABE:CA) Pressures TSX Venture Basic Materials Stocks with 16.67% Decline in Morning Trading on September 22

ABE Resources Inc. (CDX:ABE:CA) is amongst the weakest basic materials stocks listed on the TSX Venture Exchange through noon on September 22, with a fall of 16.67%. After closing the previous session at $0.03, shares of ABE:CA opened this morning at $0.025 and are currently trading at $0.025. At the lunch break, about 109,000 shares have changed hands, compared to an average 30-day volume of 2,731 for ABE Resources Inc.. Shares moved as high as $0.025 and as low as $0.025 in today’s morning action.

The share depreciation gives the company a market capitalization of $345,328 based upon 11.51 million shares outstanding.

In the past 52 weeks, shares of ABE Resources Inc. have traded as low as $0.015 and as high as $0.075. Technical traders will take note that at $0.025, shares of ABE:CA are trading below their 50-day moving average (MA) at $0.028 and below their 200-day MA at below $0.028. 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 $ABE Res Inc.?

ABE Resources Inc is an exploration company. The Company acquires and explores mineral properties in Quebec, Canada. The company is led by its CEO Yves Rougerie from its headquarters at 1019, Des Pins Boulevard.

For more information on ABE Res Inc. 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.

All data provided by QuoteMedia, with stock data accurate as of 12:00 PM ET. FinancialPress.com is not responsible for inaccuracies in third-party supplied information.

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.

About FinancialPress.com

FinancialPress.com is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of FinancialPress.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://financialpress.com/legal-disclaimer/.

Check Also

Delta Technology Holdings Limited (DELT) Leads Basic Materials Laggards with a drop of 6.28% on September 23

Delta Technology Holdings Limited (DELT traded as high as $1.69 and as low as $1.57. …