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May 23, 2024

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Top 5 stock gainers and losers: NICN.V, OILS.CN, SGC.V

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

NICAN Limited (NICN.V)

Market Cap ~ $10 million

NiCAN Limited engages in the exploration, development, operation, and financing of mining assets in Canada. The company primarily explores for nickel and copper deposits, as well as by-products of copper, cobalt, and platinum group elements. It holds interest in the Wine project consisting of 24 mineral claims covering an area of 5,666 hectares; and the Pipy project comprised of 20 mineral claims covering an area of 3,913 hectares located within the lake greenstone belt of Manitoba.

The stock is up 233% on reported assays results from its Phase III drilling program on the Wine Property located in the Snow Lake area, Manitoba.  

Highlights:

  • Diamond drill hole Wine 23-29 intersected multiple zones of mineralization including,
  • 31.5 meters averaging 1.90% Cu and 1.92% Ni (2.31% NiEq) (Table 1 and Figure 1) – the longest zone of continuous mineralization intersected to date, and also
  • an Upper Zone averaging 2.20% Cu and 1.56% Ni (2.11% NiEq) over 9.6 meters

TradingView Chart

A big popper on good news. The stock is breaking above the range and a lower high at $0.075. Resistance comes in at the $0.16 zone.

 

Nextleaf Solutions (OILS.CN)

Market Cap ~ $12 million

Nextleaf Solutions Ltd., a cannabis extraction technology company, engages in the manufacture and distribution of cannabinoid vapes, oils, and softgels in Canada. The company is involved in the toll processing, such as extraction, distillation, and purification of CBD oils and THC cannabinoid ingredients, as well as engages in intellectual property licensing activities. It sells its products under Glacial Gold and High Plains brands through government distributors and authorized retailers.

The stock is up 30.7% on news it has achieved a strong financial performance for fiscal year 2023. 

TradingView Chart

A major breakout of a range pattern. And a gap up. This remains intact as long as price remains above $0.065. Resistance comes in around the $0.10 zone and then $0.12.

 

Arway Corporation (ARWY.CN)

Market Cap ~ $22 million

ARway Corporation engages in developing and operating intellectual property applications in Canada. It offers ARway, a mobile app no code Metaverse creation tool with self-generating AR mapping solutions for consumers and brands. The company also provides ARwayKit SDK; creator portal; and smart glasses operated using artificial intelligence. Its products are used in various industries, including hospitality, real estate, universities, hospitals, stadiums and concert venues, events and tradeshows, retail, and museums and galleries.

The stock is up 33% on no news. Yesterday the Company announced it has signed a new 3D modeling contract with Global Industrial Company, a titan in the industrial and commercial equipment sector with over seven decades of market leadership.

TradingView Chart

A very large resistance zone is being taken out. The next resistance comes in at the major psychological $1.00 zone.

 

Zacatecas Silver (ZAC.V)

Market Cap ~ $12 million

Zacatecas Silver Corp. engages in the acquisition, exploration, and evaluation of mineral properties in Mexico. The company explores for silver and gold resources. It owns 100% interests in the Zacatecas project that consists of 149 mining concessions covering an area of 7,826.3 hectares located in the Zacatecas State, Mexico; and the Esperanza project that consists of 7 mining concessions covering an area of 4,649 hectares located in the Morelos State, Mexico.

The stock is up 23% on no news. Two days ago, the Company announced a $1.8 million financing.

TradingView Chart

The stock printed new all time record lows and is now ranging. A break above $0.125 would take the stock above the current lower high. Major resistance then comes in around the $0.16 zone.

 

Phenom Resources (PHNM.V)

Market Cap ~ $22 million

Phenom Resources Corp. engages in the acquisition, exploration, evaluation, and development of mineral properties in Canada and the United States. The company holds an option to earn a 100% interest in the Carlin gold-vanadium project and Section 22 property located in Elko County, Nevada. It also owns interests in the West Jerome copper property located in Arizona.

The stock is up 23% on no news. 

TradingView Chart

The stock bounced at support at $0.18. There is a lower high at $0.26 that needs to be taken out for a reversal.

 

Top 5 Losers

Solstice Gold (SGC.V)

Market Cap ~ $8.9 million

Solstice Gold Corp. engages in the exploration for and development of mineral resource properties in Ontario and Nunavut, Canada. It primarily explores for gold and lithium deposits.

The stock is down 25% on news of an update on the exploration program at its Church and Kamuck Projects in the Quetico Subprovince.

TradingView Chart

The stock is just bouncing around within a range. A break above $0.075 is needed to confirm a breakout and a new uptrend.

 

Santacruz Mining (SCZ.V)

Market Cap ~ $86 million

Santacruz Silver Mining Ltd., together with its subsidiaries, engages in the acquisition, exploration, development, and operation of mineral properties in Latin America. The company primarily explores for silver and zinc, as well as lead and copper deposits. It holds 100% interests in the Zimapan Mine that consists of 34 mining concessions covering an area of 5,139 hectares located in Hidalgo, Mexico; the Sinchi Wayra and the Illapa assets located in Bolivia; and exploration properties, which include the La Pechuga Property and the Santa Gorgonia Prospect.

The stock is down 23% on no news.

TradingView Chart

The stock is rejecting at the $0.32 resistance zone. However, there has been multiple days of green price action suggesting that profits are being taken. If the stock holds above $0.22, then there is a chance a higher low is formed and the stock takes out $0.32.

 

Desert Mountain Energy (DME.V)

Market Cap ~ $23 million

Desert Mountain Energy Corp. engages in the exploration and development of oil and gas, and mineral properties in the United States, Canada, and internationally. It holds interest in the Holbrook Basin helium project covering an area of 74,421 acres located in the Eastern Arizona.

The stock is down 21% on news it has delayed its filing of annual financial statements and related filings.

TradingView Chart

A breakdown of major support. The stock still has support lower and is not printing record lows. Support comes in at the $0.15 zone. A close back above $0.30 is required to nullify downward pressure.

 

Eureka Lithium (ERKA.CN)

Market Cap ~ $18 million

Eureka Lithium Corp., a junior mining company, engages in the acquisition, exploration, and development of mineral properties in Canada. It has an option to acquire a 75% interest in the North McKinney property comprises five mineral claims totaling 1,289 hectares located on the southeast slope of Mt. Baldy in southern British Columbia.

The stock is down 14% on no news.

TradingView Chart

The stock is testing a key level at $0.365. Bulls want to see this zone hold because it could be a support where buyers will enter on a bounce back up to $0.50. Today’s candle close will be important.

 

Cerrado Gold (CERT.V)

Market Cap ~ $36 million

Cerrado Gold Inc. operates as a gold mining and exploration company in South America. The company primarily explores for gold and silver deposits. It owns 100% interests in the Minera Don Nicolas project covering an area of approximately 333,400 hectares located in Santa Cruz province, Argentina; Monte Do Carmo gold project that consists of 21 exploration permits covering an area of 82,541 hectares located in Tocantins, Brazil; and Minera Mariana, including the Las Calandrias and Los Cisnes projects located in Argentina.

The stock is down 13% on no news.

TradingView Chart

The stock is printing new all time record lows. It is like catching a falling knife. Prospective buyers should wait for a range to develop to indicate selling pressure exhaustion.

 

 

 

 

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