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
Nevada Organic Phosphate (NOP.C)
Market Cap ~ $3 million
Nevada Organic Phosphate Inc. operates as an exploration stage junior mining company in Canada and the United States of America. The company engages in identification, acquisition, evaluation, and exploration of agricultural minerals, precious, and base metals with mineral properties.
The stock is up 77.8% on no news. Volume is also at 596,200 shares traded. Perhaps a major press release is forthcoming.
If price remains strong throughout the day and we get a daily candle close like this, it would be a major range breakout. There is some resistance at $0.10 and $0.14, but if the stock remains above $0.05, a new uptrend remains intact.
American Eagle Gold Corp (AE.V)
Market Cap ~ $22 million
American Eagle Gold Corp. engages in the acquisition and exploration of gold and copper deposits in North America. Its flagship is the NAK copper-gold property located in British Columbia.
The stock is up 25.7% on news of the Company drilling 900 Metres of 0.50% Copper Equivalent from Surface in the North Copper Zone at NAK.
A great pop but the technicals indicate the stock is just pulling back to test a broken support zone, now turned resistance. The stock even appears to have printed a double top pattern. A close back above $0.24 would nullify the double top pattern and kill the reversal pattern.
Direct Communication Solutions (DSCI.C)
Market Cap ~ $5.8 million
Direct Communication Solutions, Inc. provides solutions for the Internet of Things (IoT). Its range of products include GPS devices, modems, embedded modules, routers, mobile tracking machine-to-machine (M2M) devices, communications and applications software, and cloud services.
The stock is up 24.4% on no news. Although three weeks ago, the Company announced Software Licensing and Managed Logistics Services Agreement with CATrak – Catalytic Converter Anti-Theft Solution.
The stock is in a downtrend and there is a large gap it must fill. Today’s pop is coming at a support/retest level. Watch to see if the momentum continues.
Sun Summit Minerals Corp. (SMN.V)
Market Cap ~ $5.8 million
Sun Summit Minerals Corp. engages in the acquisition, exploration, and development of precious metal properties in Canada. It primarily explores for gold, silver, and zinc deposits. The company has an option to acquire a 100% interest in the Buck property covering an area of totaling approximately 43,000 hectares located in north-central British Columbia.
The stock is up 22.2% on no news.
The downtrend could be turning as the lower highs and lower lows pattern is disappearing. Today’s close would take us over the current lower high. Bulls should watch for the $0.06 resistance zone to be taken out.
ImagineAR Inc (IP.C)
Market Cap ~ $6.5 million
ImagineAR Inc. provides engaging and interactive content to users through a cloud-based augmented reality (AR) platform. The company’s products include ImagineAR Augmented Reality Platform.
The stock is up 20% on news of a private placement. A non-brokered private placement financing of up to 28,571,428 Units, at a price of $.021 per Unit for gross proceeds of up to $600,000. Each Unit will be comprised of one (1) common share and one (1) non-transferable common share purchase warrant, with each Warrant entitling the holder to purchase one additional common share at a price of $0.05 for a period of thirty-six (36) months from the closing of the Offering.
Today’s move is taking the stock to test a key resistance zone here at $0.03. The $0.05 zone is the next resistance zone and is given more importance given the warrants.
Top 5 Losers
Northern Shield Resources (NRN.V)
Market Cap ~ $5.7 million
Northern Shield Resources Inc., a natural resource company, engages in identifying, acquiring, and exploring mineral properties primarily in Eastern Canada. It primarily explores for nickel, copper, gold, silver, and platinum group elements. The company holds 100% interest in the Merasheen property with 99 claims covering an area of 25 square kilometers located at the southern end of Merasheen Island in Placentia Bay, Newfoundland.
The stock is down 30% on news the Company Identifies Visible Gold in 3 of 8 Drill Holes, Root & Cellar Property, Newfoundland.
It seems like investor’s expectations were high from these drill holes. The stock is now contained within a flag pattern and the resistance breakout comes above $0.10.
MustGrow Biologics Corp (MGRO.V)
Market Cap ~ $49 million
MustGrow Biologics Corp., an agricultural biotech company, focuses on development and commercialization of natural biopesticides, biofumigants, and bioherbicides derived from mustard seed.
The stock is down 19% on no news. A lot of rumors and speculation on the message boards.
The stock has been bleeding lower which is why there are many frustrated traders and investors on the message boards. The $1.00 level is a major psychological zone for the stock. Let’s see if buyers will be able to defend this zone.
Unigold Inc. (UGD.V)
Market Cap ~ $13 million
Unigold Inc., a junior natural resource company, focuses on exploring and developing gold projects in Canada and the Dominican Republic.
The stock is down 16.67% on no news.
The stock has been in a range since May 2023. Today’s drop just took us to the bottom portion of the range. A breakdown would be significant but it is more likely the range continues.
MAX Resource Corp (MAX.V)
Market Cap ~ $18 million
Max Resource Corp. engages in the acquisition, exploration, and development of mineral properties. It explores for gold, silver, and copper. The company holds interest in the Cesar copper-silver project situated in Colombia.
The stock is down 15% on no news. Message boards are talking about early taxloss selling.
A drop which has taken the stock down to a very important support zone at $0.10. A close below would trigger a breakdown. If the selling pressure exhausts, watch for a few days of range.
Sokoman Minerals Corp (SIC.V)
Market Cap ~ $17 million
Sokoman Minerals Corp., an exploration-stage company, explores for mineral properties in Canada. Its flagship project includes Moosehead gold project that consists of 98 claims covering an area of 2,450 hectares located in north-central Newfoundland, Canada.
The stock is down 11% on no news. However, six days ago, Piedmont Lithium Inc. Enters into Definitive Agreements with Benton Resources Inc. and Sokoman Minerals Corp. to Acquire an Interest in the Killick Lithium Project.
A bottoming pattern could be in the works. The stock recently printed new 52 week lows hitting $0.07 before bouncing. A close back above $0.09 would take us back over near term resistance.
