In sliding 3.57%, MCW Energy Group Limited (CDX:MCW:CA) was one of the worst performing stocks in the miscellaneous sector of the TSX Venture Exchange on January 13. After closing the previous session at $0.14, shares of MCW:CA opened this morning at $0.135 and closed the day at $0.135. Throughout the day, about 157,379 shares changed hands, compared to an average 30-day volume of 409,423 for MCW Energy Group Limited. Shares moved as high as $0.14 and as low as $0.13 in today’s trading action.
The share depreciation gives the company a market capitalization of $28.64 million based upon 204.54 million shares outstanding.
In the past 52 weeks, shares of MCW Energy Group Limited have traded as low as $0.08 and as high as $0.395. Technical traders will take note that at $0.135, shares of MCW:CA are trading below their 50-day moving average (MA) at $0.219 and below their 200-day MA at below $0.176. 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 $MCW Egy Grp?
MCW Energy Group Ltd through its subsidiary is engaged in a tar sands mining and oil processing operation, using a closed-loop solvent based extraction system that recovers bitumen from surface mining. The company is led by its CEO Gerald Bailey from its headquarters at 4370 Tujunga Avenue.
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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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