In sliding 5.13%, Manitok Energy Inc. (CDX:MEI:CA) was one of the worst performing stocks amongst TSX Venture Exchange-listed basic materials companies on January 13. After closing the previous session at $0.195, shares of MEI:CA opened this morning at $0.185 and closed the day at $0.185. Throughout the day, about 752,800 shares changed hands, compared to an average 30-day volume of 977,409 for Manitok Energy Inc.. Shares moved as high as $0.2 and as low as $0.185 in today’s trading action.
The share depreciation gives the company a market capitalization of $51.25 million based upon 262.82 million shares outstanding.
In the past 52 weeks, shares of Manitok Energy Inc. have traded as low as $0.1 and as high as $0.28. Technical traders will take note that at $0.185, shares of MEI:CA are trading above their 50-day moving average (MA) at $0.159 and above their 200-day MA at above $0.158. 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 $Manitok Egy?
Manitok Energy Inc is engaged in the exploration for, and the development, production and acquisition of petroleum and natural gas reserves. The company is led by its CEO Massimo M. Geremia from its headquarters at 585 – 8th 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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