With an advance of 7.41%, Redzone Resources Ltd. (CDX:REZ:CA) was one of the best performing basic material stocks listed on the TSX Venture on February 16. After closing the previous session at $0.135, shares of REZ:CA opened this morning at $0.145 and closed the day at $0.145. Throughout the day, about 5,020 shares changed hands, compared to an average 30-day volume of 23,598 for Redzone Resources Ltd.. Shares moved as high as $0.145 and as low as $0.145 in today’s trading action.
The share appreciation gives the company a market capitalization of $1.47 million based upon 10.87 million shares outstanding.
In the past 52 weeks, shares of Redzone Resources Ltd. have traded as low as $0.085 and as high as $0.32. Technical traders will take note that at $0.145, shares of REZ:CA are trading above their 50-day moving average (MA) at $0.127 and above their 200-day MA at above $0.141. 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 $Redzone Res?
Redzone Resources Ltd is a mining company. It is engaged in the acquisition and exploration of mineral properties. The company is led by its CEO Michael Murphy from its headquarters at 580 Hornby 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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