With an advance of 2.0%, Imaflex Inc. (CDX:IFX:CA) was one of the best performing consumer goods sector stocks listed on the TSX Venture on January 13. After closing the previous session at $0.5, shares of IFX:CA opened this morning at $0.51 and closed the day at $0.51. Throughout the day, about 40,000 shares changed hands, compared to an average 30-day volume of 21,406 for Imaflex Inc.. Shares moved as high as $0.51 and as low as $0.5 in today’s trading action.
The share appreciation gives the company a market capitalization of $24.87 million based upon 49.74 million shares outstanding.
In the past 52 weeks, shares of Imaflex Inc. have traded as low as $0.29 and as high as $0.57. Technical traders will take note that at $0.51, shares of IFX:CA are trading above their 50-day moving average (MA) at $0.423 and above their 200-day MA at above $0.387. 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 $Imaflex Inc.?
Imaflex Inc is engaged in the development, manufacture and sale of flexible packaging materials including polyethylene films and bags and metallization of plastic film for the plasticulture and packaging industries. The company is led by its CEO Joseph Abbandonato from its headquarters at 5710 Notre-Dame Street West.
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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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