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
Alpha Cognition (ACOG.CN)
Market Cap ~ $97 million
Alpha Cognition Inc., a clinical stage biopharmaceutical company, focuses on developing treatments for Alzheimer’s disease and amyotrophic lateral sclerosis (ALS). It develops ALPHA-1062, an acetylcholine esterase inhibitor for the treatment of dementia of the Alzheimer’s type and mild traumatic brain injury; ALPHA-0602, a gene therapy for the treatment of ALS; and ALPHA-0702 and ALPHA-0802, a granulin epithelin motifs for the treatment of neurodegenerative diseases.
The stock is up 134% on news of FDA Acceptance of New Drug Application for ALPHA-1062 for Mild-to-Moderate Alzheimer’s Disease.
A strong breakout above the resistance at $0.50. Profits are being taken around the $1.00 zone. A new uptrend is in play.
Pampa Metals (PM.CN)
Market Cap ~ $8.4 million
Pampa Metals Corporation, a mineral exploration company, engages in the acquisition and exploration of base and precious metals projects in Chile. It owns an area of 47,400-hectare portfolio of seven projects for copper, molybdenum, and gold deposits located in Chile.
The stock is up 25% on news that it has formally contracted Eco Minera S.A, an Argentinean drilling company with over 20 years’ experience operating in the San Juan province, to complete a ~2,500m diamond drill program designed to test the depth and lateral extension of known mineralization at Piuquenes.
The first higher low can be confirmed with a daily close above the $0.22 zone. However, there is resistance upcoming around $0.28.
Nine Mile Metals (NINE.CN)
Market Cap ~ $9.4 million
Nine Mile Metals Ltd. engages in the acquisition, development, and exploration of mineral properties. The company holds interests in Black Point Property located in Eureka County, Nevada. It also holds interest in the Nine Mile Brook and the Canoe Landing Lake West mining projects located in New Brunswick, Canada.
The stock is up 25% on news of an update on its current drill hole (CL23-10-01) at its California Lake VMS Project.
This is a chart for the reversal traders. It looks like we have an inverse head and shoulders pattern developing. A daily close and break above $0.16 gets this going.
Nextech 3D AI (NTAR.CN)
Market Cap ~$27 million
Nextech3D.AI Corporation provides augmented reality technologies, wayfinding technologies, and 3D model services. It focuses on creating 3D WebAR photorealistic models for the prime ecommerce marketplace, as well as other online retailers.
The stock is up 20% on no news.
The bulls are pushing! The stock is now at key resistance at the $0.21 zone. Watch to see if the bulls can force a break and close above.
Arras Minerals (ARK.V)
Market Cap ~ $24 million
Arras Minerals Corp. engages in the acquisition, exploration, evaluation, and development of resource properties. It holds an option to acquire a 100% interest in the Beskauga copper-gold project with three contiguous licenses located in Kazakhstan.
The stock is up 40% on no news. However, yesterday the Company announced a Strategic Alliance With Major Canadian Mining Company to Focus on Critical Minerals in Kazakhstan.
The continuation of a new uptrend with the breakout above $0.16. The next resistance comes in at $0.32.
Top 5 Losers
McFarlane Lake Mining (MLM.NE)
Market Cap ~ $15.8 million
McFarlane Lake Mining Limited engages in the acquisition and exploration of mineral resource properties in Canada. It holds 100% interest in the High Lake mineral property comprises 15 claims covering an area of 577.82 hectares located east of the Ontario-Manitoba border; the West Hawk Lake mineral property located within Southwestern Manitoba; and the McMillan mineral property consists of 16 claims covering an area of approximately 3,026.40 hectares located in Espanola, Ontario.
The stock is down 20% on no news.
The stock is within a broad range and support is coming up at the $0.04 zone.
Star Royalties (STRR.V)
Market Cap ~ $24 million
Star Royalties Ltd. operates as a precious metals and carbon credit royalty and streaming company. The company focuses on providing wealth creation through originating transaction structuring with alignment to both counterparties and shareholders. It specializes in bespoke and operator-friendly financing solutions, including originating and restructuring of royalties and streams in precious metals and in North American nature-based carbon offset projects.
The stock is down 11% on no news. Yesterday, the Company announced the closing of a strategic investment by Cenovus Energy Inc for a total consideration of C$21.2 million. Following this Strategic Investment, Cenovus will own 25.9% of the common shares of Green Star along with the right to invest alongside Green Star in high-integrity carbon projects.
This looks like a correction or profit taking. However, there is resistance at $0.36, where the stock is selling off. As long as price remains above $0.26, the new uptrend can continue.
SRG Mining (SRG.V)
Market Cap ~ $78 million
SRG Mining Inc., a Canadian-based mining company, engages in the exploration and development of mineral properties in Africa. The company primarily explores for graphite deposits. It holds interests in the Lola graphite project located in the Republic of Guinea, West Africa.
The stock is down 10% on no news.
A sell off which has filled the gap. This is a bearish sign. Watch $0.64. If this breaks, we are heading to the $0.56 support zone.
CopAur Minerals (CPAU.V)
Market Cap ~ $18.5 million
CopAur Minerals Inc. engages in the acquisition, exploration, and development of mineral properties in Canada. The company primarily explores for gold and copper deposits. Its flagship project includes Kinsley Mountain Gold Project located in southeast Elko County, Nevada.
The stock is down 10% on no news.
A major breakdown and a fulfilled retest of the breakdown. This is bearish and the next support level comes in around the $0.22 zone.
American Pacific Mining (USGD.CN)
Market Cap ~ $56 million
American Pacific Mining Corp., a gold exploration company, engages in the exploration and development of mineral properties in the Western United States. The company primarily explores for gold and silver deposits. It owns interest in the Gooseberry project, which consist of 42 unpatented claims covering an area of approximately 708 acres located in Storey Nevada, the United States. In addition, the company holds interest in Palmer Project located in Haines, Alaska; Madison Project located in Montana; and Gooseberry Project located in Nevada.
The stock is down 9% on no news.
The stock is down after hitting resistance at $0.32. A pullback or correction in a new uptrend? As long as the stock remains above the $0.25 zone, the uptrend can continue.
