Home / Market Movers / SLAM Exploration Ltd. (CDX:SXL:CA) Skids 11.11% in Early Trading on April 21 to Drag on TSX Venture Basic Materials Sector

SLAM Exploration Ltd. (CDX:SXL:CA) Skids 11.11% in Early Trading on April 21 to Drag on TSX Venture Basic Materials Sector

SLAM Exploration Ltd. (CDX:SXL: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 11.11%. After closing the previous session at $0.045, shares of SXL:CA opened this morning at $0.04 and are currently trading at $0.04. So far, about 3,466 shares have changed hands, compared to an average 30-day volume of 34,813 for SLAM Exploration Ltd.. Shares moved as high as $0.04 and as low as $0.04 in today’s early action.

The share depreciation gives the company a market capitalization of $1.3 million based upon 28.78 million shares outstanding.

In the past 52 weeks, shares of SLAM Exploration Ltd. have traded as low as $0.03 and as high as $0.145. Technical traders will take note that at $0.04, shares of SXL:CA are trading below their 50-day moving average (MA) at $0.048 and below their 200-day MA at below $0.059. 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 $SLAM Expl?

Slam Exploration Ltd is engaged in the acquisition, exploration & development of exploration & evaluation properties in New Brunswick and Ontario, Canada. Its project include; Costigan, Menneval, Nash Creek, Reserve Creek Gold & Opikeigen Lake Gold. The company is led by its CEO Michael Taylor from its headquarters at 295 Campbell Street.

For more information on SLAM Expl and other companies trading on the TSX Venture Exchange, as well as other Canadian and American stock exchanges, or to be considered for contributing content for our distribution network, visit FinancialPress.com today.

All data provided by QuoteMedia, with stock data accurate as of 9:30 AM ET. FinancialPress.com is not responsible for inaccuracies in third-party supplied information.

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.

About FinancialPress.com

FinancialPress.com is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here. If you like this article, you can read more at FinancialPress.com

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of FinancialPress.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://financialpress.com/legal-disclaimer/.

Check Also

Siebert Financial Corp. (SIEB) Weighs on Financial Sector, Stock Falls 3.09% on April 21

Siebert Financial Corp. (SIEB) was one of the weakest stocks in the financial sector of …