Medgold Resources Corp. (CDX:MED:CA) is amongst the weakest basic materials stocks listed on the TSX Venture Exchange through noon on September 22, with a fall of 2.56%. After closing the previous session at $0.195, shares of MED:CA opened this morning at $0.19 and are currently trading at $0.19. At the lunch break, about 150,000 shares have changed hands, compared to an average 30-day volume of 117,948 for Medgold Resources Corp.. Shares moved as high as $0.2 and as low as $0.19 in today’s morning action.
The share depreciation gives the company a market capitalization of $13.23 million based upon 67.83 million shares outstanding.
In the past 52 weeks, shares of Medgold Resources Corp. have traded as low as $0.05 and as high as $0.25. Technical traders will take note that at $0.19, shares of MED:CA are trading above their 50-day moving average (MA) at $0.182 and above their 200-day MA at above $0.114. 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 $MedGld Res?
Medgold Resources Corp is a gold exploration and development company. It is engaged in the acquisition and exploration of gold resource properties in Spain and in Portugal. The company is led by its CEO Simon Ridgway from its headquarters at 200 Burrard Street.
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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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