In sliding 3.33%, Tower Resources Ltd. (CDX:TWR: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 $0.15, shares of TWR:CA opened this morning at $0.145 and closed the day at $0.145. Throughout the day, about 5,000 shares changed hands, compared to an average 30-day volume of 66,231 for Tower Resources Ltd.. Shares moved as high as $0.145 and as low as $0.145 in today’s trading action.
The share depreciation gives the company a market capitalization of $9.84 million based upon 65.61 million shares outstanding.
In the past 52 weeks, shares of Tower Resources Ltd. have traded as low as $0.005 and as high as $0.205. Technical traders will take note that at $0.145, shares of TWR:CA are trading below their 50-day moving average (MA) at $0.154 and above their 200-day MA at above $0.101. 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 $Tower Res Lt?
Tower Resources Ltd is a mineral exploration company engaged in the acquisition and exploration of exploration and evaluation assets domiciled in Canada. The company is led by its CEO Mark Vanry from its headquarters at 1112 West Pender 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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