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
Kidoz (KIDZ.V)
Market Cap ~ $26 million
Kidoz Inc. develops and sells AdTech software products in Western Europe; Central, Eastern, and Southern Europe; North America; and internationally. The company also owns and develops mobile Kidoz safe ad network, the Kidoz kid-mode operating system, the Kidoz publisher SDK, the Rooplay edugames platform, and the Rooplay originals.
The stock is up 50% on no news.
The stock is still in a downtrend with its lower highs and lower lows. It finds itself bouncing between two trendlines, or a channel pattern. A close above the top trendline would lead to a breakout and potentially, the start of a new uptrend.
BTQ Technologies (BTQ.NE)
Market Cap ~ $68.9 million
BTQ Technologies Corp. engages in the development of computer-based technology related to post-quantum cryptography.
The stock is up 28% on no news.
Strong and positive price action with a gap up, a breakout above a range and resistance, and a strong green candle. Very bullish. A new uptrend remains intact as long as the stock holds above $0.44. Remember: a retest is possible. Resistance comes in at the $0.64 zone.
Morien Resources (MOX.V)
Market Cap ~ $24 million
Morien Resources Corp., a mining development company, engages in the identification and purchase of mineral projects in Canada. The company holds royalty interests in the Donkin coal mine located in Cape Breton, Nova Scotia; and the Black Point aggregate project, a granite deposit located in Guysborough County, Nova Scotia.
The stock is up 25% on news that the Nova Scotia Department of Labour, Skills and Immigration, a provincial regulator for the Donkin Mine, upon which Morien has a 2% to 4% royalty interest, has lifted the Mine’s Stop Work Order which has been in effect since July 15th 2023.
A very nice recovery with the stock bouncing from $0.30. Now it is testing a critical resistance zone. Note the large gap. If the stock can push higher and fill this gap, it is set for a bullish run.
Gold Flora Corporation (GRAM.NEO)
Market Cap ~ $33.27 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 21% on no news.
The stock confirmed a breakout yesterday and is seeing the momentum continue today. Although you can see that there is some resistance around the $0.28 zone as seen by the large wicks yesterday and so far, today. Watch for a strong green close above this level.
Enthusiast Gaming (EGLX.TO)
Market Cap ~ $39 million
Enthusiast Gaming Holdings Inc., an integrated gaming entertainment company, engages in the media, content, entertainment, and esports businesses in Canada, the United States, England and Wales, and internationally. The company owns and operates video-gaming expo; owns and manages esports teams for various games comprising Apex Legends, Rocket League, World of Warcraft, Call of Duty: Mobile, Rainbow Six Siege, PlayerUnknown’s Battlegrounds, Call of Duty: Warzone, Super Smash Bros: Melee, and Super Smash Bros: Ultimate; and produces and programs approximately 20 weekly shows across advertising-based video on demand (AVOD) and over-the-top (OTT) channels, as well as represents approximately 500 gaming influencers on YouTube and Twitch. It also owns and operates approximately 50 websites that contain news, reviews, videos, live streams, blog posts, tips, chats, message boards, other video-gaming related content, and casual games.
The stock is up 21.4% on no news.
A strong downtrend with the stock printing new all time record lows just a few days ago. Today’s price action is a bounce and one can say a bounce in a correction. The downtrend is not over until the stock can reclaim the $0.315 zone.
Top 5 Losers
Spectra7 Microsystems (SEV.V)
Market Cap ~ $16 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.
The stock is down 25% on an update on forward guidance for expected sales for the year ending December 31st 2023.
The stock broke below $0.50 and the next support comes in at $0.325. The stock will need to reclaim $0.50 to turn things around.
Baru Gold (BARU.V)
Market Cap ~ $4.5 million
Baru Gold Corporation engages in the exploration and evaluation assets in Indonesia. The company holds a 70% interest in the Sangihe gold project located on the island of Sangihe covering an area of 42,000 hectares. It also holds interest in the Miwah gold project that consists of three contiguous exploration mining business permits covering an area of 30,000 hectares located to the southeast of Banda Aceh in Aceh Province.
The stock is down 20% on news that it will not be able to file its audited annual financial statement for the period ended August 31, 2023 and its MD&A by the filing deadline of December 29, 2023 and as a result will be in default of its obligations under National Instrument 51-102 Continuous Disclosure Obligations.
The drop is taking the stock back to support around $0.015. The stock is ranging between support, and resistance coming in at $0.055.
Hut 8 (HUT.TO)
Market Cap ~ $1.93 billion
Hut 8 Corp. provides digital asset mining and high-performance computing infrastructure solutions in Canada. It operates computing infrastructure sites mines Bitcoin, as well as delivers cloud, colocation, and computing services to enterprise customers.
The stock is down 9.2% on no news.
The stock has been on a ripping tear with cryptos moving higher and today’s price action just appears to be profit taking before the end of the year. Technically, the stock remains in an uptrend as long as it remains above $17.00.
Lake Victoria Gold (LVG.V)
Market Cap ~ $23 million
Lake Victoria Gold Ltd., a junior mineral exploration company, engages in the acquisition and exploration of mineral properties in Tanzania. The company primarily explores for gold deposits. Its flagship project is the Tembo gold property covering an area of 32 square kilometers located in the Lake Victoria goldfield district in northwest Tanzania.
The stock is down 12% on no news.
Choppy price action, but the stock did attempt a breakout above $0.22. Today’s price action can be considered a retest. If the stock closes below $0.21 today, then it would take out a lot of breakout momentum.
Power Lithium (POWR.CN)
Market Cap ~ $5.7 million
POWR Lithium Corp. engages in the exploration and the development of mineral properties. It holds interest in the Halo lithium project that consists of 98 claims covering an area of 819 hectares located within the Big Smoky Valley in the Tonopah mining district in southern Nevada; and the ELi sediment-hosted lithium deposit property located in Nevada, the United States.
The stock is down 10.2% on no news.
A drop after testing resistance around the $0.25 zone. We seem to have the skeleton of a double bottom pattern. If the stock can remain above $0.12, this popular reversal pattern can trigger. The trigger is a close above the neckline resistance at $0.25.
