With a skid of 13.33%, Melior Resources Inc. (CDX:MLR:CA) was one of the worst performing stocks amongst TSX Venture Exchange consumer goods companies on February 16. After closing the previous session at $0.075, shares of MLR:CA opened this morning at $0.065 and closed the day at $0.065. Throughout the day, about 348,450 shares changed hands, compared to an average 30-day volume of 35,891 for Melior Resources Inc.. Shares moved as high as $0.085 and as low as $0.065 in today’s trading action.
The share depreciation gives the company a market capitalization of $15.86 million based upon 211.47 million shares outstanding.
In the past 52 weeks, shares of Melior Resources Inc. have traded as low as $0.015 and as high as $0.08. Technical traders will take note that at $0.065, shares of MLR:CA are trading above their 50-day moving average (MA) at $0.049 and above their 200-day MA at above $0.037. 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 $Melior Res?
Melior Resources Inc invests and develops resources with capital appreciation. Its project include Goondicum project located in Queensland, Australia. The company is led by its CEO Mark D.H. McCauley from its headquarters at 120 Adelaide Street 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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