With an advance of 1.75%, SDX Energy Inc. (CDX:SDX:CA) was one of the best performing basic material stocks listed on the TSX Venture on January 13. After closing the previous session at $0.57, shares of SDX:CA opened this morning at $0.58 and closed the day at $0.58. Throughout the day, about 93,750 shares changed hands, compared to an average 30-day volume of 104,804 for SDX Energy Inc.. Shares moved as high as $0.59 and as low as $0.56 in today’s trading action.
The share appreciation gives the company a market capitalization of $45.51 million based upon 79.84 million shares outstanding.
In the past 52 weeks, shares of SDX Energy Inc. have traded as low as $0.26 and as high as $0.75. Technical traders will take note that at $0.58, shares of SDX:CA are trading above their 50-day moving average (MA) at $0.448 and above their 200-day MA at above $0.412. 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 $Sea Dragon?
SDX Energy Inc is an exploration, production and development company. It has interest in two production concessions NW Gemsa and West Gharib both located in the Eastern desert. Its portfolio also includes South Ramadan, South Disouq and West Bakassi. The company is led by its CEO from its headquarters at 38 Welbeck 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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