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
HPQ Silicon (HPQ.V)
Market Cap ~ $118 million
HPQ Silicon Inc., together with its subsidiaries, provides silica and silicon solutions in Canada. It is also developing a portfolio of silicon and silica products primarily for manufacturers of battery and electric vehicle, li-Ion batteries; and hydrogen applications. In addition, the company engages in developing the PUREVAP Quartz Reduction Reactors, a process to transform quartz into silicon metal; the PUREVAP Fumed Silica Reactors, a plasma-based technology that converts quartz feedstock into fumed silica; and the PUREVAP Nano Silicon Reactors, a process to make the nano silicon spherical powders and wires. Further, it is involved in the manufacture of silicon nanoscale materials.
We have a confirmed inverse head and shoulders pattern which has triggered. Bullish. This pattern actually triggered on yesterday’s close. We have a nice follow through today with this news. The next resistance zone comes in at $0.40.
DeFi Technologies (DEFI.NE)
Market Cap ~ $693 million
DeFi Technologies Inc., a technology company, develops and lists exchange traded products in Canada, Bermuda, and the Cayman Islands. The company provides asset management services, such as investment vehicles, indirect exposure to underlying cryptocurrencies, digital asset indexes, and other decentralized finance instruments. It also participates in decentralized blockchain networks by processing data transactions that contribute to network security and stability, governance, and transaction validation. In addition, the company invests in decentralized finance companies in early-stage ventures.
The stock is up 25% on no news. Yesterday, the Company announced that it has deployed a Core Chain validator node to act as an independent validator for the network. The launch of the node is part of the Company’s DeFi Infrastructure business line, contributing to the mission of decentralized finance. The Company will also stake 1,498 BTC on the Core Chain.
The stock is in a strong uptrend. We are now testing the $2.40 zone. Still room to the upside. If the stock can close above $2.50, watch for a move to $3.20.
Canadian Western Bank (CWB.TO)
Market Cap ~ $4.09 billion
Canadian Western Bank provides personal and business banking products and services in Western Canada. The company offers current, savings, US dollar, chequing, flex notice, organization, business trust, and trust fund investment accounts. It also offers commercial lending and real estate, equipment financing and leasing, aviation financing, and dealership financing products; agriculture lending products and AgriInvest savings account; variable and fixed rate mortgages; line of credit; registered retirement savings plan, consolidation, and vehicle loans; and credit cards.
The stock is up 70% on news that it is being bought out by National Bank for $3.6 billion. The acquirer will pay the equivalent of C$52.24 a share for Canadian Western, a premium of 110% over the target’s closing price on Tuesday.
The stock is in new all time record highs on this big news. The buy out price comes in at $52.24, but approval from the Canadian Government and two-thirds of CWB shareholders (who are to vote in a special meeting in September) is still required for this deal to go through.
Showcase Minerals (SHOW.CN)
Market Cap ~ $16 million
Showcase Minerals Inc. engages in the identification, acquisition, exploration, and development of mineral projects. The company primarily explores for gold and vanadium deposits. It owns interests in the Dixie Flats which consist of 180 unpatented lode claims covering approximately 1311 hectares; the North Star which consist of 56 unpatented lode claims covering 360 hectares; and Woodruff claims which consist of 18 unpatented lode claims covering approximately 147 hectares located in Elko County, Nevada.
The stock is up 25% on no news.
A nice engulfing candle was printed yesterday. The bulls have made a strong statement for a bottom and a trend reversal. The stock is testing the resistance zone here at $0.78. Watch for a close above this level.
Noram Lithium Corp (NRM.V)
Market Cap ~ $12 million
Noram Lithium Corp. engages in the acquisition, exploration, and development of mineral properties in the United States. Its flagship property is the Zeus Lithium project consisting of 146 placer claims and 136 lode claims covering an area of approximately 1,113 hectares located in Clayton Valley, Nevada.
The stock is up 22% on news that it has completed an updated Mineral Resource Estimate for its 100% owned Zeus Lithium Project.
The stock seems to have found support at $0.10, and is gapping up on today’s news. The market likes the mineral resource estimate. The current lower high comes in at $0.15. Watch for a close above this level to confirm a new trend.
Top 5 Losers
KWESST Microsystems (KWE.V)
Market Cap ~ $6.8 million
KWESST Micro Systems Inc. engages in the development and commercialization of tactical systems and ammunitions for military, public safety agencies, and personal defense markets. The company non-lethal products, including PARA OPS devices and ARWEN products.
The stock is down 30% on no news. Two days ago, the Company announced that it has been awarded a sub-contract by Thales Canada. Under the sub-contract, KWESST will deliver specialized software services for work under the Canadian Department of National Defence Land C4ISR series of contracts to modernize the Canadian Army’s capabilities through advanced land command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) systems. A contract valued at up to $48 million.
We are seeing profit taking after a major two day move. The stock did confirm a close above the $1.20 lower high, but selling pressure is strong and the stock is back below the major psychological $1.00 zone. Watch to see if bulls will jump back in to confirm a close back over $1.00.
Genesis AI Corp (AIG.CN)
Market Cap ~ $6 million
Genesis AI Corp. does not have significant operations. Previously, it was engaged in the development of cyber security and cryptocurrency software.
The stock is down 13% on no news.
The stock is pulling back in what could be a new uptrend after yesterday’s engulfing candle. Not much to worry about for bulls unless the stock closes below $0.07.
Cannabix Technologies (BLO.CN)
Market Cap ~ $58 million
Cannabix Technologies Inc., a technology company, develops marijuana breathalyzer for employers, law enforcement, workplaces, and laboratories in the United States. It develops tetrahydrocannabinol breath analyzers, a point of care breath testing tool for the rapid detection of recent cannabis use; MS breath sampler; and contactless alcohol breathalyzer, as well as breath collection units.
The stock is down 12% on no news.
Profits are being taken after the stock hit the $0.85 zone. The stock is now testing the major psychological $0.50 zone. A close below would set the stock up to test the higher low at $0.45. A close below this level would see the stock drop to $0.30.
Resaas Services (RSS.V)
Market Cap ~ $28 million
RESAAS Services Inc. engages in the development of web and mobile communications software for the real estate industry. The company offers a suite of tools, which integrate with the platform, including a global referral network, lead generation engine, listing management, client engagement modules, customer relationship management tools, analytics, file sharing, payment system, and advertising engine. Its solutions also comprise RealTimeMLS, a real-time listing solution and communication platform for real estate associations and multiple listing services (MLSs); and BrokerOS, an online communication hub that ensures agents open, read, and respond to the emails and messages sent to them by users.
The stock is down 10% on no news.
The stock is rejecting the $0.44 zone. A few support levels here but the next major support comes in at $0.30.
Leef Brands (LEEF.CN)
Market Cap ~ $12 million
Leef Brands Inc. operates as a cannabis branded products manufacturer in the United States. It provides resins and infused pre-rolls. The company offers its products under the Ganja Gold, Real Deal Resin, Heady, and LEEF brand names.
The stock is down 33% on no news.
At the lows of support at $0.01. Bottom pickers should watch for a strong green bodied candle to indicate buyers. This would be a range play with targets at $0.04.
