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
Criterium Energy (CEQ.V)
Market Cap ~ $5.8 million
Criterium Energy Ltd. engages in the exploration and development of oil and gas. It focuses in the Bulu PSC offshore property located in the East Java, Indonesia.
The stock is up 50% on news the Company has signed a LOI for the arm’s length sale of its wholly owned subsidiary which holds a 42.5% non-operated working interest in the Bulu PSC.
For you reversal traders, put this stock high up on your watchlist! A downtrend shifted into a range indicating the exhaustion of selling pressure. With today’s news, we have a gap and a potential breakout. The confirmation of the breakout requires a daily candle close above $0.14. Ideally a strong green body candle.
Xcite Resources (XRI.CN)
Market Cap ~ $1.4 million
Xcite Resources Inc. engages in the exploration and development of mineral properties in Québec, Canada. It holds a 100% interest in the Turgeon Lake property with 39 mineral claims covering a total area of 2,203.28 hectares located in the province of Québec.
The stock is up 28% on no news.
Not many levels to work with but today’s volume is large at 724,000 verses the average of 24,452. There is some resistance at $0.10 which the stock tested with today’s pop. A daily candle close above this level would trigger more momentum.
Comet Lithium (CLIC.V)
Market Cap ~ $10 million
Comet Lithium Corporation, a lithium-focused exploration company, engages in the acquisition, exploration, and development of mining properties in Canada. Its flagship asset is its 100% owned Liberty Property located in James Bay, Québec.
The stock is up 22.5% on no news.
Interesting structure on the chart. The stock is in a broad range between $0.32 as support and $0.65 as resistance. Recently, the stock broke below the psychologically important $0.50 zone. Watch to see if the stock can recover and take back this level for more momentum higher.
Equity Metals (EQTY.V)
Market Cap ~ $26 million
Equity Metals Corporation engages in the acquisition, exploration, and development of mineral properties in Canada. The company explores for gold, silver, zinc, copper, and diamond ores. It owns a 100% interest in the Silver Queen property consists of 17 crown-granted and 45 tenure claims covering an area of 18, 851.76 hectares located in the Omineca Mining Division, near Owen Lake, British Columbia; 57.49% interest in the Monument Diamond property located on the south shore of Lac de Gras in the Northwest Territories; and 100% in Saskatchewan Silica Sand lease covering an area of 54 acres.
The stock is up 20% on no news. Yesterday, the Company announced initial 2023 drill results from the 100% owned Silver Queen Au-Ag project, British Columbia, in its initial three holes from the Autumn 2023 core drilling program on the Cole Lake target. Results included:
- A 1.0 metre (est. TT) interval averaging 1.0/t Au, 287g/t Ag, 0.3% Cu, 0.5% Pb and 4.0% Zn (7.0g/t AuEq or 576g/t AgEq) within an 8.9 metre (est. TT) interval averaging 0.3g/t Au, 66g/t Ag, 0.1% Cu, 0.3% Pb and 1.2% Zn (1.9g/t AuEq or 157g/t AgEq) from the Cole Vein in drillhole SQ23-095;
- A 1.9 metre (est. TT) interval averaging 0.2g/t Au, 325g/t Ag, 0.2% Cu, 1.2% Pb and 1.6% Zn (5.7g/t AuEq or 467g/t AgEq) within a 3.8 metre (est. TT) interval averaging 0.2g/t Au, 212g/t Ag, 0.2% Cu, 0.9% Pb and 1.3% Zn (4.0g/t AuEq or 328g/t AgEq) from the Cole Vein in drillhole SQ23-096; and
- A 0.7 metre (est TT) interval averaging 2.0g/t Au, 89g/t Ag, 0.2% Cu, 7.9% Pb and 17.2% Zn (14.7 AuEq or 1206g/t AgEq) within a 2.4 metre (est. TT) interval averaging 0.9g/t Au, 33g/t Ag, 0.1% Cu, 2.4% Pb and 5.0% Zn (4.8g/t AuEq or 391g/t AgEq) from a hangingwall vein in drillhole SQ23-097.
The stock is breaking out. Support comes in at the $0.15 zone, and if the stock remains above this price level, the breakout remains intact with resistance coming in at $0.22.
D-Box Technologies (DBO.TO)
Market Cap ~ $21 million
D-BOX Technologies Inc. designs, manufactures, and commercializes motion systems intended for the entertainment and simulation, and training markets worldwide. The company produces haptic effects programmed for visual content, which are sent to a haptic system integrated within a platform, a seat, or various other products. It sells or leases D-BOX hardware, including haptic seats, haptic controllers, and electronic interfaces or servers, as well as haptic bases that are integrated into recliners or seats; licenses D-BOX Haptic Code in commercial theatres and entertainment centers equipped with the D-BOX haptic systems to play content encoded by D-BOX; sells actuators to resellers, integrators, and equipment or seating manufacturers; and maintains haptic systems, as well as markets the D-BOX technology under their own brands.
The stock is up 18% on no news.
This is potentially just a corrective phase to retest the broken trendline meaning that the bears may jump in to force another leg lower. Watch for a close above $0.10 to indicate that the bulls have wrestled control from the bears.
Top 5 Losers
Else Nutrition (BABY.TO)
Market Cap ~ $30 million
Else Nutrition Holdings Inc. engages in the development, production, and sale of food and nutrition products for infants, toddlers, children, and adults in North America and Israel. It offers baby snacks; baby feeding accessories, such as feeding bottles and teats; plant-based baby formula products; toddler, children, and adult nutrition products; and complementary food products.
The stock is down 15% on no news. Two days ago, the Company announced that its innovative Ready-To-Drink (RTD) Kids’ Nutritional Shakes are expected on the shelves of a leading retail pharmacy chain with locations across Western Canada during the first quarter of 2024.
After a major pop, the stock has not been able to continue the momentum. Profits were taken around the $0.75 zone. Now, the stock is ranging between $0.36 to the upside and $0.24 to the downside. Today’s drop is testing this support level. A close below would lead to a drop back down to $0.175.
Chakana Copper (PERU.V)
Market Cap ~ $6.1 million
Chakana Copper Corp. engages in the acquisition, exploration, and development of mineral properties. It holds an option to acquire a 100% interest in the Soledad copper-gold-silver project located in Central Peru.
The stock is down 12% on news the Company has granted an extension to the closing time of the Company’s non-brokered private placement of up to 55,000,000 units at a price of C$0.04 per Unit for gross proceeds of up to C$2.2 million.
The stock is battling at all time record lows at $0.035. The stock needs a close above the current lower high at $0.045 to begin to turn things around. Technically, we must wait for some signs of bottoming.
Enduro Metals (ENDR.V)
Market Cap ~ $8.4 million
Enduro Metals Corporation engages in the identification, acquisition, and exploration of precious metal resources in Canada. It primarily explores for gold, copper, silver, zinc, lead, and nickel deposits. The company’s flagship project is 100% owned Newmont Lake property consisting of 688 square kilometers located in northwestern British Columbia.
The stock is down 22% on news that the Company intends to complete a non-brokered private placement for gross proceeds of up to $3 million and a consolidation of its Common Shares on the basis of one post-consolidation Common Share for each ten pre-consolidation Common Shares.
There is interesting structure on this one. We seem to be forming an inverse head and shoulders like pattern. But this does not mean anything until we trigger the pattern with a breakout above $0.05. This is the trigger for bulls going forward.
Majestic Gold (MJS.V)
Market Cap ~ $73 million
Majestic Gold Corp., a mining company, focuses on exploration, development, and operation of mining properties in China, Australia, and Canada. The company primarily explores for gold ores. Its flagship project is the Songjiagou gold mine located in the Shandong Province of China.
The stock is down 12% on news that Majestic’s 94% owned subsidiary, Persistence Resources Group Ltd., has issued its prospectus in respect of its listing of shares in the capital of Persistence on the Main Board of The Stock Exchange of Hong Kong Limited.
Not much to say other than the stock is testing a support zone around the $0.07 zone. Resistance comes in at $0.10. A choppy looking chart for now.
Imperial Mining Group (IPG.V)
Market Cap ~ $12 million
Imperial Mining Group Ltd. operates as a mineral exploration company in Canada. The company primarily explores for gold, scandium, and base metal deposits. It also holds 100% interests in the Crater Lake project comprising 96 contiguous claims covering an area of 47 square kilometers located to the northeast of Schefferville, Quebec; and the Opawica project, which includes 42 contiguous claims covering an area of 23.45 square kilometers situated the Gand and Lesperance townships.
The stock is down 25% on no news.
The stock did retake a broken support level at $0.07. However, today’s price action is seeing the stock cut back below $0.07. Indicating the bears are back in control. The next support comes in at $0.04.
