Robex Resources Inc. (CDX:RBX: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 6.25%. After closing the previous session at $0.08, shares of RBX:CA opened this morning at $0.075 and are currently trading at $0.075. So far, about 1,100 shares have changed hands, compared to an average 30-day volume of 55,965 for Robex Resources Inc.. Shares moved as high as $0.075 and as low as $0.075 in today’s early action.
The share depreciation gives the company a market capitalization of $46.36 million based upon 579.51 million shares outstanding.
In the past 52 weeks, shares of Robex Resources Inc. have traded as low as $0.07 and as high as $0.155. Technical traders will take note that at $0.075, shares of RBX:CA are trading below their 50-day moving average (MA) at $0.078 and below their 200-day MA at below $0.093. 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 $Robex?
Robex Resources Inc is a junior Canadian mining exploration and development company. The Company holds five exploration licenses, all located in Mali, in West Africa. The company is led by its CEO George Cohen from its headquarters at 437 Grande Allee Est.
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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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