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
Transatlantic Mining Corp (TCO.V)
Market Cap ~ $8.7 million
Transatlantic Mining Corp. engages in the acquisition, exploration, and development of mineral properties in the United States. It primarily explores for gold and copper deposits.
The stock is up 17% on no news.
We do have a cup and handle like pattern which did trigger with a breakout but then saw price pullback rather than carry momentum forward. Resistance comes in at the $0.11 zone. A strong close above this level confirms the major break.
Neo Performance Materials (NEO.TO)
Market Cap ~ $354 million
Neo Performance Materials Inc. engages in the manufacture and sale of rare earth, magnetic powders, magnets, and rare metal-based functional materials in Canada and internationally. The company operates in three segments: Magnequench, Chemicals and Oxides, and Rare Metals. The Magnequench segment produces magnetic powders that are used in bonded and hot deformed fully dense neodymium-iron-boron magnets; and bonded magnets. Its powders are used in the production of bonded permanent magnets that are components in automotive motors, pumps, micro motors, traction motors, sensors, and other applications.
The stock is up 14% on news that the board of directors of Neo has formed a Special Committee of independent directors to lead a comprehensive strategic review process to consider opportunities to maximize shareholder value.
The breakout reversal trigger was confirmed with a close above $6.50. The stock is printing a higher low now. Watch for pullbacks towards the gap between $7.50-$8.00. This is the gap support. The next resistance zone comes in around $9.50.
Railtown AI Technologies (RAIL.CN)
Market Cap ~ $47 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 no news.
The stock found support at $0.34. The stock is now looking to test recent highs at $0.44. A close above sets us up for a move towards previous record highs at $0.54.
Denarius Metals (DMET.NE)
Market Cap ~ $41.4 million
Denarius Metals Corp. engages in the acquisition, exploration, development, and operation of mineral properties primarily in Spain and Colombia.
The stock is up 12% on no news.
A range is back in play with the stock briefly breaking below the support of the range at $0.50 but quickly recovering. Resistance comes in around the $0.70 zone.
Lexston Mining (LEXT.CN)
Market Cap ~ $3.2 million
Lexston Mining Corporation operates as a mineral exploration company that focuses on the acquisition and development of mineral projects.
The stock is up 10% on no news.
Another range play in action with the stock printing an engulfing candle at the support level of this range. The resistance comes in at $0.12. Wait for the breakout to trigger a play.
Top 5 Losers
American Aires (WIFI.CN)
Market Cap ~ $27 million
American Aires Inc., a nanotechnology company, engages in the research, development, and implementation of innovative technology solutions that restructure and transform electromagnetic field haze into biologically-compatible form in Canada and internationally. Its products include the Lifetune One, a device specific solution that sticks directly onto electronic devices, offering immediate protection against harmful electromagnetic radiation solution for use with devices such as phones, tablets, and laptops; and the Lifetune Flex, a versatile electromagnetic fields (EMF) protection solution for constant coverage from electromagnetic radiation.
The stock is down 27% on no news.
A break of $1.00 triggered a new downtrend with multiple lower highs and lower lows. The stock has now hit the major support zone of $0.25. So far, the current daily candle is showing a hammer candle. This is an initial sign that buyers will be stepping in here at this support zone. A close above $0.50 would get us over the current lower high which would end the downtrend.
Graphene Manufacturing Group (GMG.V)
Market Cap ~ $61 million
Graphene Manufacturing Group Ltd, a clean-technology, manufactures and supplies graphene powder. The company engages in the manufacture and sale of energy saving and energy storage solutions. Its products portfolio includes graphene aluminium-ion battery; THERMAL-XR, an HVAC coating system that enhance the conductivity of corroded heat exchange surfaces and maintain the performance of units; and G LUBRICANT, a graphene and lubricating oil.
The stock is down 17% on news that it has entered into an equity distribution agreement dated June 13, 2024 with Cantor Fitzgerald Canada Corporation that would result in aggregate gross proceeds to the Company of up to C$20 million.
We do have a bottoming pattern here and the stock is now dropping to retest the current breakout zone and support at $0.60. Watch to see if buyers will hold and step in here.
Therma Bright (THRM.V)
Market Cap ~ $7.9 million
Therma Bright Inc. acquires, develops, manufactures, and markets proprietary healthcare and medical devices focused on respiratory diseases, vascular health, and consumer medical devices for consumer and institutional marketplace. The company’s products include AcuVid, an antigen and antibody rapid screening test for COVID-19; InterceptCS, a cold sore prevention system, which provides controlled topical heat without the risk of burning the skin; Benepod, a hot and cold contrast therapy device for pain relief without pain relieving medication; Venowave, a medical compression pump designed to treat and alleviate the symptoms associated with poor circulation; and TherOZap, a thermal therapy insect device that reduces the inflammatory response, as well as relieves the symptoms of pain, itching, and inflammation associated with insect bites and stings.
The stock is down 16% on no news.
Just like the chart of the former Company, this is showing the beginnings of a new uptrend with a shift in trends. The higher low comes in at $0.02 and support at $0.015. Bulls want to see bids to keep this structural reversal intact.
Valeo Pharma (VPH.TO)
Market Cap ~ $10 million
Valeo Pharma Inc., a specialty pharmaceutical company, engages in the acquisition, in-licensing brands, and sale of pharmaceuticals and hospital specialty products for unmet medical needs in Canada. Its product portfolio includes Enerzair Breezhaler, a LABA/LAMA/ICS fixed triple dose asthma drug; Atectura Breezhaler, a LABA/ICS dual combination asthma drug; Redesca, to treat and prevent deep vein thrombosis and pulmonary embolism; Onstryv, for the treatment of Idiopathic Parkinson’s disease; M-Eslon, extended-release morphine sulphate used for pain management; and Yondelis, a soft tissue sarcoma. It also offers Hesperco, a flavonoid formulation used for immune support; Ethacrynate Sodium; and Amikacin, an antibiotic.
The stock is down 32% on news of Q2 2024 revenues.
A retest is occurring after the stock broke out of the range yesterday. Bulls want to see a close above $0.105 by the end of the day for a continuation of a new uptrend.
Rivalry Corp (RVLY.V)
Market Cap ~ $41 million
Rivalry Corp., through its subsidiaries, operates as a sport betting and media property that offers regulated online wagering on esports, sports, and casino for bettors. It also offers develops and offers third-party casino products, such as Rushlane and Aviator.
The stock is down 20% on no news.
New all time record lows for the stock. The stock either must close back above the $0.70 zone to turn things around. Or if it continues to drop, wait for selling exhaustion in the form of a range or a buying candle such as a hammer or engulfing.
