In sliding 3.7%, Strategic Oil & Gas Ltd. (CDX:SOG:CA) was one of the worst performing stocks amongst TSX Venture Exchange-listed basic materials companies on January 13. After closing the previous session at $0.135, shares of SOG:CA opened this morning at $0.13 and closed the day at $0.13. Throughout the day, about 58,000 shares changed hands, compared to an average 30-day volume of 160,242 for Strategic Oil & Gas Ltd.. Shares moved as high as $0.135 and as low as $0.13 in today’s trading action.
The share depreciation gives the company a market capitalization of $118.74 million based upon 879.56 million shares outstanding.
In the past 52 weeks, shares of Strategic Oil & Gas Ltd. have traded as low as $0.055 and as high as $0.185. Technical traders will take note that at $0.13, shares of SOG:CA are trading above their 50-day moving average (MA) at $0.121 and below their 200-day MA at below $0.139. 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 $Strategic O?
Strategic Oil & Gas Ltd is engaged in the exploration for and development of petroleum and natural gas reserves in Western Canada and minor operations in the Western United States. The company is led by its CEO Gurpreet Sawhney from its headquarters at 645-7th Avenue South West.
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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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