With an advance of 10.0%, Forent Energy Ltd. (CDX:FEN:CA) was one of the best performing basic material stocks listed on the TSX Venture on January 13. After closing the previous session at $0.3, shares of FEN:CA opened this morning at $0.33 and closed the day at $0.33. Throughout the day, about 21,812 shares changed hands, compared to an average 30-day volume of 10,193 for Forent Energy Ltd.. Shares moved as high as $0.33 and as low as $0.33 in today’s trading action.
The share appreciation gives the company a market capitalization of $4.48 million based upon 14.93 million shares outstanding.
In the past 52 weeks, shares of Forent Energy Ltd. have traded as low as $0.12 and as high as $0.4. Technical traders will take note that at $0.33, shares of FEN:CA are trading above their 50-day moving average (MA) at $0.31 and above their 200-day MA at above $0.276. 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 $Forent Egy?
Forent Energy Ltd is an oil and gas exploration, development and production company. It is engaged in the exploitation of oil reserves through development drilling in three properties in south central Alberta including Twining, Provost and Wayne. The company is led by its CEO Robyn Lore from its headquarters at 340 -12th 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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