In sliding 4.0%, Ergoresearch Ltd. (CDX:ERG:CA) was one of the worst performing stocks in the healthcare sector of the TSX Venture Exchange on January 13. After closing the previous session at $0.25, shares of ERG:CA opened this morning at $0.24 and closed the day at $0.24. Throughout the day, about 20,000 shares changed hands, compared to an average 30-day volume of 17,839 for Ergoresearch Ltd.. Shares moved as high as $0.24 and as low as $0.24 in today’s trading action.
The share depreciation gives the company a market capitalization of $18.13 million based upon 72.51 million shares outstanding.
In the past 52 weeks, shares of Ergoresearch Ltd. have traded as low as $0.15 and as high as $0.33. Technical traders will take note that at $0.24, shares of ERG:CA are trading above their 50-day moving average (MA) at $0.239 and below their 200-day MA at below $0.243. 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 $Ergoresearch?
Ergoresearch Ltd is engaged in the manufacturing and selling of custom foot orthotics and general orthotics. The Company also develops durable medical equipment for the orthopedic market. The company is led by its CEO Sylvain Boucher from its headquarters at 2101 Le Carrefour.
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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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