With an advance of 25.0%, Indico Resources Ltd. (CDX:IDI:CA) was one of the best performing basic material stocks listed on the TSX Venture on January 13. After closing the previous session at $0.02, shares of IDI:CA opened this morning at $0.025 and closed the day at $0.025. Throughout the day, about 32,980 shares changed hands, compared to an average 30-day volume of 57,691 for Indico Resources Ltd.. Shares moved as high as $0.025 and as low as $0.025 in today’s trading action.
The share appreciation gives the company a market capitalization of $2.94 million based upon 147.0 million shares outstanding.
In the past 52 weeks, shares of Indico Resources Ltd. have traded as low as $0.02 and as high as $0.1. Technical traders will take note that at $0.025, shares of IDI:CA are trading above their 50-day moving average (MA) at $0.022 and below their 200-day MA at below $0.039. 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 $Indico Res?
Indico Resources Ltd is an exploration stage company. It is engaged in the acquisition, exploration and development of natural resources in Peru. The company is led by its CEO Robert Baxter from its headquarters at 837 West Hastings 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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