With an advance of 2.7%, Synstream Energy Corp. (CDX:SHM:CA) was one of the best performing basic material stocks listed on the TSX Venture on February 16. After closing the previous session at $0.185, shares of SHM:CA opened this morning at $0.19 and closed the day at $0.19. Throughout the day, about 2,000 shares changed hands, compared to an average 30-day volume of 1,117 for Synstream Energy Corp.. Shares moved as high as $0.19 and as low as $0.19 in today’s trading action.
The share appreciation gives the company a market capitalization of $6.53 million based upon 35.31 million shares outstanding.
In the past 52 weeks, shares of Synstream Energy Corp. have traded as low as $0.06 and as high as $0.36. Technical traders will take note that at $0.19, shares of SHM:CA are trading below their 50-day moving average (MA) at $0.229 and below their 200-day MA at below $0.226. 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 $Saccharum?
SynStream Energy Corp is engaged in acquisition, exploration, development and production of petroleum and natural gas reserves in Western Canada. The company is led by its CEO Shane Ferster from its headquarters at 520-5th 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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