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
Horizonte Minerals (HZM.TO)
Market Cap ~ $61 million
Horizonte Minerals Plc, together with its subsidiaries, engages in the exploration and development of mineral projects in Brazil. The company primarily explores for nickel deposits, as well as cobalt deposits. It holds 100% interest in the Araguaia ferronickel; and the Vermelho Nickel-Cobalt project in the eastern part of the Carajás mining district.
The stock is up 53% on news of a US$20 million interim funding package that will allow for critical construction streams to advance at its flagship Araguaia Nickel Project and for general working capital purposes.
The stock has a long road to recovery but today’s pop is positive. Ideally, bulls want to see a daily close above $0.25 and then eventually $0.30. The latter number would fill in the gap which is acting as resistance right now. Gap fills in downtrends tend to be bullish.
Melkior Resources (MKR.V)
Market Cap ~ $5 million
Melkior Resources Inc., a junior mining exploration company, engages in the acquisition and exploration of mineral properties in Canada. The company primarily explores for gold, zinc, and silver deposits, as well as base metals. Its flagship property includes the Carscallen project, which comprises 320 claim units covering an area of approximately 47 square kilometers located to the west of Timmins, Ontario.
The stock is up 33% on no news.
The stock is about to break above resistance at $0.16. Those with technical eyes may see the dirty looking inverse head and shoulders pattern. The next major resistance zone is nearby and comes in at the $0.20 zone.
Gold Flora Corporation (GRAM.NEO)
Market Cap ~ $30.8 million
Gold Flora Corporation engages in the cultivation, manufacturing, extraction, distribution, and retailing of cannabis products in California. It offers disposable vape pens and gold flora flowers.
The stock is up 42% on no news.
The stock is breaking out and has a strong green candle with good volume. As long as the price remains over $0.20, a new uptrend is in play. Next major resistance comes in at $0.36.
Digihost Technology (DGHI.V)
Market Cap ~ $84 million
Digihost Technology Inc. operates as a blockchain technology company focuses on the blockchain industry in the United States. The company mines for cryptocurrency.
The stock is up 24% on no news.
The stock is gapping up and breaking above the $2.50 resistance zone. Watch for a test of the resistance at $3.35.
Sendero Resources (SEND.V)
Market Cap ~ $23.5 million
Sendero Resources Corp., through its subsidiary, operates as an exploration company in Argentina. It primarily explores for copper and gold. The company holds a 100% interest in the Peñas Negras project, it exhibits close geological similarities to neighboring deposits covering an area of 120 square kilometers located in Vicuna district of Argentina.
The stock is up 26.3% on no news.
A breakout into new all time record highs. Since we have no price history here, naturally the next resistance zone would be the psychologically important $0.50 zone.
Top 5 Losers
Razor Energy Corp (RZE.V)
Market Cap ~ $7.2 million
Razor Energy Corp. engages in the acquisition, exploration, development, and production of oil and natural gas properties in western Canada. The Company produces primarily light oil, natural gas, and natural gas liquids in Alberta. It operates assets in the Swan Hills area covering 155,520 gross acres of total land and the Kaybob area covering 84,320 gross acres of total land located in the west central Alberta, as well as the District South area covering 79,093 gross acres of total land located in the southern Alberta.
The stock is down 25% on news that as a result of financial disputes with the operator of the Judy Creek Gas Plant, the operator has restricted access and has ceased processing Razor’s Swan Hills natural gas production. Effective December 24th, 2023, a significant portion of Razor’s production has been shut-in indefinitely.
A breakdown of support which is set to see the stock drop down to the $0.10 zone. The press release is quite negative and the downtrend is likely to continue until the dispute is resolved.
Resolute Resources (RRL.V)
Market Cap ~ $7.5 million
Resolute Resources Ltd., an energy company, engages in the exploration and development of crude oil from shallow cretaceous sandstone reservoirs utilizing multi-lateral drilling technology in Northeast British Columbia and Northwest Alberta.
The stock is down 18% on no news.
The stock is breaking below major support and is printing new all time record lows. Watch to see if the daily candle close can remain above $0.12 to prevent a breakdown confirmation.
INX Digital Company (INXD.NEO)
Market Cap ~ $65.2 million
The INX Digital Company, Inc. operates trading platform for cryptocurrencies and digital securities. The company’s platform allows users to trade in digital blockchain assets, such as cryptocurrencies and security tokens.
The stock is down 11.4% on no news.
The stock is seeing a rejection at the $0.40 resistance zone. Support comes in at the $0.24 zone.
Baylin Technologies (BYL.TO)
Market Cap ~ $25.6 million
Baylin Technologies Inc., together with its subsidiaries, researches, designs, develops, manufactures, and sells passive and active radio frequency (RF) products, satellite communications products, and supporting services. It offers embedded antennas for use in smartphones, tablets, and other mobile devices; device-specific antennas for Wi-Fi routers; gateway devices for smart home connectivity, set-top boxes, and land mobile radio products.
The stock is down 10.5% on no news.
A range after the stock has printed new all time record lows. Bulls want to see a breakout above $0.20.
Euro Manganese (EMN.V)
Market Cap ~ $38 million
Euro Manganese Inc. engages in the evaluation, exploration, and development of mineral assets. Its flagship project comprises the 100% owned Chvaletice manganese project, which is involved in the re-processing of a manganese deposit hosted in historic mine tailings to produce manganese products for applications in lithium-ion batteries located in the east of Prague, the Czech Republic.
The stock is down 13% on no news.
Very similar price action with the stock above. However, Euro Manganese has not printed new all time record lows. Watch for a close and breakout above the $0.12 zone.
