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
Meridian Mining UK Societas (MNO.TO)
Market Cap ~ $136 million
Meridian Mining UK Societas, together with its subsidiaries, engages in the acquisition, exploration, and development of mineral properties in Brazil. It explores for manganese, gold, copper, silver, and tin deposits. The company’s flagship property is the Cabaçal copper-gold project located in the state of Mato Grosso, Brazil.
The stock is up 15% on no news. Yesterday, the Company announced high-grade mineralization in a drill hole.
A good looking reversal chart. The stock has confirmed an inverse head and shoulders pattern with a close above $0.40. The stock is making higher lows and higher highs and is reacting on yesterday’s news. The next resistance comes in around $0.68.
Sage Potash (SAGE.V)
Market Cap ~ $12 million
Sage Potash Corp. engages in the acquisition, exploration, and development of mineral properties. It holds interest in the Sage Potash property located in the State of Utah.
The stock is up 15% on no news.
The first higher low in a new uptrend has been confirmed with a close above $0.16. Watch for the second higher low to be formed with a daily candle close above $0.24 by end of the trading day.
Railtown AI Technologies (RAIL.CN)
Market Cap ~ $24 million
Railtown AI Technologies Inc. develops artificial intelligence (AI) based platform for software developers in Canada. It offers Railtown AI, an AI-driven platform that preforms a variety of functions comprising understanding the root cause of every issue at the earliest stage of the development pipeline, knowledge around the history of documentation, builds, deployments, assigned tasks, and engineering performance, as well as velocity to preforming tasks comprising automated progress reports, and ticket and documentation generation.
The stock is up 13% on news it will participate in the EF Hutton Annual Global Conference.
A very nice looking market structure with a broad inverse head and shoulders pattern. Watch for a close above the $0.27 zone to trigger a major breakout.
Rua Gold (RUA.CN)
Market Cap ~ $34 million
Rua Gold Inc., a resource exploration company, focuses on the acquisition, evaluation, and exploration of mineral resource properties in New Zealand. The company primarily explores for gold deposit. It holds 100% interests in the Reefton project that includes three contiguous prospecting and exploration permits covering an area of 56,104.82 hectares located in the Reefton Goldfield, the Buller Province of South Island; and the Glamorgan project covering an area of 4644.5 hectares situated in the southcentral part of the Coromandel Range, west of the Whangamata Township.
The stock is up 12% on no news.
The stock recently broke above resistance at the $0.16 zone. Now, price is retracing and is contained within a flag pattern. We are retesting support at $0.16 now. Watch for bulls here. A close above the upper portion of the flag will be the major breakout trigger.
Brunswick Exploration (BRW.V)
Market Cap ~ $101 million
Brunswick Exploration Inc., a junior exploration and evaluation company, engages in the acquisition, exploration, and evaluation of mining property assets in Canada. The company primarily explores for lithium. It holds interests in the Mirage, Elrond, Anatacau, Plex, and Mythril projects comprising 4600 claims covering an area of 238,042 hectares located in James Bay region; a property comprising 723 claims covering an area of 41,058 hectares located in Pontiac region; and a package comprising 333 claims covering an area of 18,060 hectares located in the North Shore of the St. Lawrence River, Quebec. The company also holds interest in the South Mountain Batholith project located in central mainland Nova Scotia; and the Trans-Hudson project comprising 90 claims covering an area of 102,708 hectares located near the communities of Creighton, La Ronge, and Southend in central Saskatchewan.
The stock is up 13% on news it has drilled 93.45 meters at 1.55% Li2O at MR-6.
The stock is ranging after a breakdown of $0.72. Now, the stock is ranging showing signs of selling exhaustion. Watch for a close above the $0.56 zone.
Top 5 Losers
Enerflex (EFX.TO)
Market Cap ~ $835 million
Enerflex Ltd. offers energy infrastructure and energy transition solutions to natural gas markets in North America, Latin America, and the Eastern Hemisphere. The company provides natural gas compression infrastructure, processing, and treated water infrastructure under contract to oil and natural gas customers; power generation rental solutions; custom and standard compression packages for reciprocating and screw compressor applications; re-engineering, re-configuration, and re-packaging of compressors for various field applications; integrated turnkey power generation, gas compression, processing facilities, natural gas compression, processing, and electric power solutions; after-market mechanical services and parts distribution, as well as maintenance solutions to the oil and natural gas industry, operations, and overhaul services; and equipment supply, parts supply, and general asset management.
The stock is down 19% on news of Q1 2024 results.
A major gap down and the stock looks prime to fill the gap below $7.50. This would be very bearish and we have fundamental news backing this breakdown.
Shopify (SHOP.TO)
Market Cap ~ $110.24 billion
Shopify Inc., a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.
The stock is down 18% on news of Q1 2024 results, but mainly the negative Q2 outlook.
A head and shoulders pattern is likely to trigger unless the stock can reclaim the $94 zone. A major gapdown on the news points to extreme bearishness. The next support comes in around the $75 zone.
Britannia Life Sciences (BLAB.CN)
Market Cap ~ $8.1 million
Britannia Life Sciences Inc. provides product testing, safety assessment, and compliance services primarily to the cosmetics, nutraceutical, and consumer packaged goods industries in the United Kingdom and internationally.
The stock is down 33% on no news.
The stock is breaking down and could be in danger of forming a record all time low candle body close if the candle closes below $0.045. However, perhaps the bulls can step in to defend this major support zone.
Promino Nutritional Sciences (MUSL.CN)
Market Cap ~ $13 million
Promino Nutritional Sciences Inc., a nutraceutical company, develops nutritional products in Canada and the United States. The company offers Rejuvenate, a proprietary formulation to assist in the rebuilding, restoration, and rejuvenation of natural loss of muscle mass due to aging or other medical conditions; and PROMINO, an elite performance supplement for both professional and amateur athletes to accelerate muscle recovery, build strength, and accelerate recovery from injury.
The stock is down 12% on news it has retained award winning PhD Dr. Patrick Gunning to assess preclinical studies conducted on its patented formulation’s mitigation of muscle loss in cancer patients.
The stock has been gaining since testing the $0.16 support zone. There is some resistance here around the $0.28. Watch for bulls to defend the $0.20 zone.
Sun Peak Metals (PEAK.V)
Market Cap ~ $37 million
Sun Peak Metals Corp., a junior mining company, engages in the acquisition, exploration, and development of resource properties for the mining of precious and base metals in Ethiopia. It explores for gold and copper deposits. The company holds interests in the Shire project that comprises exploration licenses, including Nefasit, Adi Dairo, Terer, and Meli located in northern Ethiopia.
The stock is down 12% on no news.
After a major uptrend, the stock is showing signs of a reversal pattern. I see the structure of a head and shoulders pattern and the stock is breaking below the key neckline support currently.
