In this summary report, we will take a quick look at the top 5 gainers and losers up or down double digits on the Canadian stock markets.
Here is a summary of the intraday action of assets:
Top 5 Gainers
BioNxt Solutions (BNXT.CN)
Market Cap ~ $51 million
BioNxt Solutions Inc. operates as a bioscience company in Germany, Switzerland, Austria, Israel, the United States, and Canada. It develops drug delivery methods, such as transdermal patches and oral dissolvable films designed for delivery of neurological medications; and psychedelic medicine to treat mental health-related medical conditions, including depression, anxiety, addiction, and trauma-related stress disorder. The company also develops point-of-care diagnostics comprising rapid diagnostics and biosensor screening tests for early detection and the potential for better treatment outcomes, and improved disease management; and COVID-19 PCR diagnostic kit, peri-implantitis oral biosensor, and H1N1 (swine flu) and H5N1 (avian flu) oral biosensors.
The stock is up 26% on no news.
The stock has bounced at the $0.35 zone, and is thus far, about to confirm an engulfing candle. I would watch for a close above $0.50 to strongly suggest that the downtrend is over.
Spectra7 Microsystems (SEV.V)
Market Cap ~ $4.9 million
Spectra7 Microsystems Inc. operates as an analog semiconductor company in Canada and China. The company offers virtual reality (VR) products, including VR7050 to enable lightweight and ultra-thin active interconnects for gesture recognition and motion control backhaul; augmented reality (AR) -Connect, an integrated cable, connector, and embedded chipset product line for AR vision systems and wearable computing devices; and DreamWeVR, includes VR8181, VR8050, VR8200 and VR8300 chips to support high-bandwidth, near-zero latency VR head-mounted displays, and AR glasses. It also provides GaugeChanger that allows copper to extend much longer lengths without the cost and power penalty of optics that are used in data centers; and USB 3.2 consumer interconnects for use in ultra-thin laptops, tablets, mobile devices, solid-state disks, and wearable computing devices.
The stock is up 20% on no news. Yesterday, the Company released preliminary 2024 Q1 revenue and a liquidity update.
Nothing to celebrate just yet. We had a major drop into new all time record lows. The stock needs to do a lot to regain upside momentum and confirm a reversal. A close back above $0.31 is a start.
Golden Goliath Resources (GNG.V)
Market Cap ~ $1.78 million
Golden Goliath Resources Ltd. engages in the acquisition and exploration of resource properties in Canada and Mexico. The company primarily explores and develops gold and silver properties. It also holds a 100% interest in the Wish Ore Property in the townships of Wishat and Palmer, Ontario; and the Ernst rare earth element located in Lack Ernst, Quebec.
The stock is up 16% on a corporate update. The Company’s main focus will be on our 100% owned Wish Ore Gold property located just off the Trans-Canada highway 60 km north of Sault Ste. Marie Ontario. The Company also intends to do a program of stripping / trenching and sampling on two of its REE properties located near the Manicouagan impact crater in Eastern Quebec.
An interesting set up given the double bottom pattern trigger. The stock must remain above $0.06 for a continuation of this reversal pattern. Keep an eye on this one.
Cannabix Technologies (BLO.CN)
Market Cap ~ $30 million
Cannabix Technologies Inc., a technology company, develops marijuana breathalyzer for employers, law enforcement, workplaces, and laboratories in the United States. It develops tetrahydrocannabinol breath analyzers, a point of care breath testing tool for the rapid detection of recent cannabis use; MS breath sampler; and contactless alcohol breathalyzer, as well as breath collection units.
The stock is up 13% on news it has shipped its Industrial Series Contactless Alcohol Breathalyzers for certification testing and is rebranding the “CAB” name under the new “Breath Logix” product series.
We have something here worth watching. The stock is testing against resistance and the sellers cannot keep the bulls from jumping back in. Watch for a strong candle close above $0.25.
Railtown AI Technologies (RAIL.CN)
Market Cap ~ $20 million
Railtown AI Technologies Inc. develops artificial intelligence (AI) based platform for software developers in Canada. It offers Railtown AI, an AI-driven platform that preforms a variety of functions comprising understanding the root cause of every issue at the earliest stage of the development pipeline, knowledge around the history of documentation, builds, deployments, assigned tasks, and engineering performance, as well as velocity to preforming tasks comprising automated progress reports, and ticket and documentation generation.
The stock is up 10% on news that the Company’s common shares are now eligible for electronic clearing and settlement through the Depository Trust Company in the United States.
The uptrend looks set to continue with buyers stepping in at $0.20. The breakout occurred above $0.19 and the next zone to be tested will be resistance above at $0.28.
Top 5 Losers
NeoTerrex Minerals (NTX.V)
Market Cap ~ $17 million
NeoTerrex Minerals Inc. engages in the mining and exploration of rare earth elements and lithium properties in Canada. The company focuses on exploring its 100% owned Mount Discovery rare earth project located in Quebec.
The stock is down 25% on no news.
A major gap down but the stock is set to test an important support zone around $0.20. Watch to see if bulls will step in here.
Decklar Resources (DKL.V)
Market Cap ~ $4.4 million
Decklar Resources Inc. operates as an independent international oil and gas company in Nigeria and Canada. The company holds interests in the Oza Oil Field that covers an area of 20 square kilometers located onshore in the northern part of Oil Mining Lease (OML) 11 in Nigeria’s Eastern Niger Delta; the Asaramatoru Field located onshore in the southern swamp section of OML 11 in the Eastern Niger Delta; and the Emohua Oil Field located onshore in the southeastern section of OML 22 in the Eastern Niger Delta. It also provides funding and technical advisory services to exploration and development companies.
The stock is down 20% on news that it intends to apply to the Alberta Securities Commission, under National Policy 12-203 – Management Cease Trade Orders requesting that a temporary management cease trade order be granted in respect of the late filing of the consolidated audited financial statements, management’s discussion & analysis and related officer certifications and its annual filings under National Instrument 51-101 Standards for Oil and Gas Activities for the year ended December 31, 2023.
The stock was about to breakout above $0.08 and confirm a reversal pattern. However, the bulls could not get that break. Now the stock is set to test previous record lows.
Fokus Mining (FKM.V)
Market Cap ~ $7.3 million
Fokus Mining Corporation, a mining exploration company, acquires and explores for mining properties in Canada. The company primarily explores for gold, rare earth elements, and rare metals. It owns interest in the Galloway property located in Dasserat Township, Québec.
The stock is down 20% on news that it has intersected 10m grading 10.06 g/t Au and 11.45 g/t Au silver on the Moriss showing, located in the western part of the Company’s 100%-owned Galloway project.
The stock is contained within a range and recently saw a rejection of the upper portion of the range at $0.08. Unless this resistance can be taken out, expect the stock to stay within and potentially bounce down to $0.04.
Metallic Minerals (MMG.V)
Market Cap ~ $49 million
Metallic Minerals Corp. engages in the acquisition, exploration, and development of mineral properties in Canada and the United States. The company explores for silver, gold, and copper deposits. Its flagship project is the 100% owned Keno silver project covering an area of 171 square kilometers located in the Keno Hill silver district, Yukon Territory, Canada.
The stock is down 17% on news of final results from the 2023 drill campaign at the Company’s La Plata copper-silver-gold-Platinum Group Element (“Cu-Ag-Au-PGE”) project in southwestern Colorado, which finished in December.
The stock is testing a key higher low level at the $0.29 zone. If the stock closes below this level, we can see a drop down to the $0.24 zone.
Green Bridge Metals (GRBM.CN)
Market Cap ~ $7.5 million
Green Bridge Metals Corporation engages in the acquisition and exploration of mineral properties in Canada. The company explores in copper, nickel, titanium, and platinum group element in the city of Duluth, Minnesota. It has an option to acquire a 100% interest in the Chrome-Puddy Property and the Danby Triangle Property located in Thunder Bay, Ontario.
The stock is down 17% on no news.
The stock broke out above the $0.12 confirming a reversal pattern. The stock is pulling back and could retest this zone. If the stock breaks below, then any reversal momentum will be reversed.