In sliding 20.0%, Medallion Resources Ltd. (CDX:MDL: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 $0.025, shares of MDL:CA opened this morning at $0.02 and closed the day at $0.02. Throughout the day, about 381,333 shares changed hands, compared to an average 30-day volume of 101,373 for Medallion Resources Ltd.. Shares moved as high as $0.02 and as low as $0.02 in today’s trading action.
The share depreciation gives the company a market capitalization of $2.1 million based upon 84.09 million shares outstanding.
In the past 52 weeks, shares of Medallion Resources Ltd. have traded as low as $0.02 and as high as $0.055. Technical traders will take note that at $0.02, shares of MDL:CA are trading below their 50-day moving average (MA) at $0.024 and below their 200-day MA at below $0.028. 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 $Medallion?
Medallion Resources Ltd is engaged in the business of acquisition and exploration of mineral properties. Its project includes the Red Wine Project. The company is led by its CEO Donald M. Lay from its headquarters at 595 Howe 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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