Home / Market Movers / Midday Alert: Orex Exploration Inc. (CDX:OX:CA) Pressures TSX Venture Basic Materials Stocks with 11.11% Decline in Morning Trading on September 22

Midday Alert: Orex Exploration Inc. (CDX:OX:CA) Pressures TSX Venture Basic Materials Stocks with 11.11% Decline in Morning Trading on September 22

Orex Exploration Inc. (CDX:OX:CA) is amongst the weakest basic materials stocks listed on the TSX Venture Exchange through noon on September 22, with a fall of 11.11%. After closing the previous session at $0.045, shares of OX:CA opened this morning at $0.04 and are currently trading at $0.04. At the lunch break, about 1.02 million shares have changed hands, compared to an average 30-day volume of 271,908 for Orex Exploration Inc.. Shares moved as high as $0.045 and as low as $0.04 in today’s morning action.

The share depreciation gives the company a market capitalization of $7.74 million based upon 171.95 million shares outstanding.

In the past 52 weeks, shares of Orex Exploration Inc. have traded as low as $0.01 and as high as $0.045. Technical traders will take note that at $0.04, shares of OX:CA are trading above their 50-day moving average (MA) at $0.035 and above their 200-day MA at above $0.023. 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 $Orex Expl?

Orex Exploration Inc is engaged in the exploration of gold mining sites located in Nova Scotia, Canada. The Company owns goldboro project in Guysborough County, Nova Scotia. The company is led by its CEO Marcel Faucher from its headquarters at 101-A, Principale Avenue.

For more information on Orex Expl 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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