With an advance of 11.76%, Olivut Resources Ltd. (CDX:OLV:CA) was one of the best performing basic material stocks listed on the TSX Venture on January 13. After closing the previous session at $0.17, shares of OLV:CA opened this morning at $0.19 and closed the day at $0.19. Throughout the day, about 45,634 shares changed hands, compared to an average 30-day volume of 19,109 for Olivut Resources Ltd.. Shares moved as high as $0.22 and as low as $0.17 in today’s trading action.
The share appreciation gives the company a market capitalization of $6.96 million based upon 40.95 million shares outstanding.
In the past 52 weeks, shares of Olivut Resources Ltd. have traded as low as $0.08 and as high as $0.42. Technical traders will take note that at $0.19, shares of OLV:CA are trading above their 50-day moving average (MA) at $0.17 and below their 200-day MA at below $0.23. 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 $Olivut Res?
Olivut Resources Ltd is engaged in the acquisition, exploration and evaluation of mineral properties for the purpose of mining diamonds and other precious and base minerals. The company is led by its CEO Leni Keough from its headquarters at 27010 Highway 16.
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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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