With an advance of 9.09%, CGX Energy Inc. (CDX:OYL:CA) was one of the best performing basic material stocks listed on the TSX Venture on February 16. After closing the previous session at $0.11, shares of OYL:CA opened this morning at $0.12 and closed the day at $0.12. Throughout the day, about 22,900 shares changed hands, compared to an average 30-day volume of 53,532 for CGX Energy Inc.. Shares moved as high as $0.125 and as low as $0.11 in today’s trading action.
The share appreciation gives the company a market capitalization of $12.14 million based upon 110.39 million shares outstanding.
In the past 52 weeks, shares of CGX Energy Inc. have traded as low as $0.105 and as high as $0.25. Technical traders will take note that at $0.12, shares of OYL:CA are trading below their 50-day moving average (MA) at $0.132 and below their 200-day MA at below $0.161. 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 $CGX Egy Inc.?
CGX Energy Inc is engaged in the process of exploring and evaluating petroleum and natural gas properties in the Guyana Suriname basin, a frontier basin in South America. The company is led by its CEO Dewi Jones from its headquarters at 333 Bay 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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