With an advance of 8.0%, Cypress Development Corp. (CDX:CYP:CA) was one of the best performing basic material stocks listed on the TSX Venture on January 13. After closing the previous session at $0.125, shares of CYP:CA opened this morning at $0.135 and closed the day at $0.135. Throughout the day, about 170,611 shares changed hands, compared to an average 30-day volume of 79,685 for Cypress Development Corp.. Shares moved as high as $0.135 and as low as $0.12 in today’s trading action.
The share appreciation gives the company a market capitalization of $4.2 million based upon 33.6 million shares outstanding.
In the past 52 weeks, shares of Cypress Development Corp. have traded as low as $0.04 and as high as $0.195. Technical traders will take note that at $0.135, shares of CYP:CA are trading above their 50-day moving average (MA) at $0.108 and above their 200-day MA at above $0.132. 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 $Cypress Dev?
Cypress Development Corp is a Canadian exploration company engaged in the acquisition, exploration & evaluation of resource properties. Its projects are Red Lake Gold Camp, Mckenzie Island Gold project, Gunman Zinc-Silver project and Frost Gold project. The company is led by its CEO Donald Huston from its headquarters at 777 Dunsmuir 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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