With an advance of 4.35%, Oceanic Iron Ore Corp. (CDX:FEO:CA) was one of the best performing basic material stocks listed on the TSX Venture on January 13. After closing the previous session at $0.23, shares of FEO:CA opened this morning at $0.24 and closed the day at $0.24. Throughout the day, about 124,000 shares changed hands, compared to an average 30-day volume of 21,728 for Oceanic Iron Ore Corp.. Shares moved as high as $0.25 and as low as $0.22 in today’s trading action.
The share appreciation gives the company a market capitalization of $11.4 million based upon 49.56 million shares outstanding.
In the past 52 weeks, shares of Oceanic Iron Ore Corp. have traded as low as $0.085 and as high as $0.34. Technical traders will take note that at $0.24, shares of FEO:CA are trading above their 50-day moving average (MA) at $0.231 and above their 200-day MA at above $0.197. 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 $Oceanic Iron?
Oceanic Iron Ore Corp is an exploration stage company engaged in the acquisition and exploration of iron ore properties in Québec, Canada. The company is led by its CEO Alan Gorman from its headquarters at 595 Burrard 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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