In sliding 7.41%, Avanti Energy Inc. (CDX:AVN:CA) was one of the worst performing stocks in the miscellaneous sector of the TSX Venture Exchange on February 16. After closing the previous session at $0.135, shares of AVN:CA opened this morning at $0.125 and closed the day at $0.125. Throughout the day, about 2,000 shares changed hands, compared to an average 30-day volume of 17,997 for Avanti Energy Inc.. Shares moved as high as $0.125 and as low as $0.125 in today’s trading action.
The share depreciation gives the company a market capitalization of $8.84 million based upon 65.48 million shares outstanding.
In the past 52 weeks, shares of Avanti Energy Inc. have traded as low as $0.09 and as high as $0.21. Technical traders will take note that at $0.125, shares of AVN:CA are trading below their 50-day moving average (MA) at $0.16 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 $Avanti Egy?
Avanti Energy Inc is engaged in acquiring, exploring and evaluating oil and gas properties. The Company operates in USA and Italy. The company is led by its CEO John F. Mcintyre from its headquarters at 701 West Georgia 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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