Algold Resources Ltd (CDX:ALG:CA) came out weak at the opening of trading on April 21, outpacing most other peers in the basic materials sector listed on the TSX Venture Exchange with an early decline of 2.0%. After closing the previous session at $0.25, shares of ALG:CA opened this morning at $0.245 and are currently trading at $0.245. So far, about 28,300 shares have changed hands, compared to an average 30-day volume of 200,301 for Algold Resources Ltd. Shares moved as high as $0.245 and as low as $0.245 in today’s early action.
The share depreciation gives the company a market capitalization of $32.54 million based upon 130.16 million shares outstanding.
In the past 52 weeks, shares of Algold Resources Ltd have traded as low as $0.175 and as high as $0.44. Technical traders will take note that at $0.245, shares of ALG:CA are trading below their 50-day moving average (MA) at $0.254 and below their 200-day MA at below $0.293. 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 $AlGld Res Lt?
Algold Resources Ltd is a junior mineral exploration company. The Company is engaged in the mineral exploration and evaluation in West Africa. The company is led by its CEO Francois Auclair from its headquarters at 1320 Graham Boulevard.
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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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