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
Railtown AI Technologies (RAIL.CN)
Market Cap ~ $60 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 15% on news of a partnership with the Mila Institute to accelerate Railtown’s advanced AI initiatives.
A major breakout today on the news. The major resistance is around $0.55. We take that out and the stock prints new all time record highs. Support comes in at $0.42.
Aero Energy (AERO.V)
Market Cap ~ $14 million
Aero Energy Limited, a junior mineral exploration company, engages in the acquisition, exploration, and evaluation of mineral properties in Canada. The company explores for uranium deposits. Its flagship optioned properties include the Sun Dog, Strike, and Murmac, as well as fully owned properties located in Athabasca Basin.
The stock is up 20% on news it has intersected highly elevated radioactivity in the second drill hole (M24-017) of its 2024 exploration drilling program on the Murmac Uranium Project.
The stock is popping and breaking above the flag pattern. A close above $0.14 by the end of the day would be what bulls want to see. The next resistance comes in at the $0.24 zone.
DeFi Technologies (DEFI.NE)
Market Cap ~ $668 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.
The stock is up 24% on no news. Yesterday, the Company announced that its subsidiary, Reflexivity Research, a leading crypto research firm, has partnered with CoinMarketCap, the world’s largest crypto pricing and data aggregator, to educate users on various digital assets with in-depth fundamental research.
I have been highlighting the major support zone at $1.40 ever since the stock broke down. We are seeing bulls jump in today. Bulls want to see a strong daily candle close. Ideally, one with the close near the highs of the day.
Hut 8 Corp (HUT.TO)
Market Cap ~ $1.8 billion
Hut 8 Corp. operates as a vertically integrated operator of energy infrastructure and Bitcoin miners in North America. It operates in four segments: Digital Assets Mining, Managed Services, High Performance Computing Colocation and Cloud, and Other. The company mines Bitcoin. It also offers managed services for energy infrastructure development, such as site design, procurement, and construction management; software automation, process design, personnel hiring, and team training; utilities contracts, hosting operations, and customer management; energy portfolio optimization and strategic initiatives; and finance, accounting, and safety services for digital asset mining site owners, governments, and data center developers.
The stock is up 18% on no news. Yesterday, the Company announced a definitive agreement with a fund managed by Coatue Management, L.L.C. pursuant to which Coatue has agreed to invest $150 million into the Company through a convertible note.
After a major basing pattern, the stock is in breakout mode after closing above the $15.00 zone. We even had a nice retest confirmed with a large green engulfing candle. The uptrend continues with higher lows and higher highs. $24 is the next target resistance zone.
Leviathan Gold (LVX.V)
Market Cap ~ $4 million
Leviathan Gold Ltd. engages in the acquisition, exploration, and evaluation of resource properties in Australia. Its principal properties are its 100% owned Avoca project covering an area of approximately 106 km2; and the Timor project, which covers an area of approximately 121 km2 located in the State of Victoria, Australia.
The stock is up 104% on news of high grade assay results from its initial drilling at the Excelsior Prospect.
A huge pop today on the exciting news. We have a potential discovery play which will be a major catalyst for the stock going forward. The next resistance zone comes in at the $0.34 zone but it would be reasonable to expect some profit taking on the way there.
Top 5 Losers
Victoria Gold (VGCX.TO)
Market Cap ~ $81 million
Victoria Gold Corp. acquires, explores, and operates mineral properties in Canada and the United States. The company primarily explores for gold deposits. Its flagship property is 100% owned Dublin Gulch property, which hosts the Eagle and Olive Gold deposit covering an area of approximately 555 square kilometers located in central Yukon, Canada.
The stock is down 83% on news that operations at the Eagle Gold Mine are temporarily suspended due to a heap leach pad incident.
The stock actually printed record lows on this dump. Bad news of course, and further information will need to be provided in order to understand the gauge of the situation. Judging by the sell off though it is probably pretty bad. Some may see this as a great opportunity to buy the stock at a cheap price. I would watch for a range to develop or a large green candle to indicate selling exhaustion. But of course the news it what you will need to watch for. So far, we have a large wick and there is the potential we could print a hammer candle today.
MetaSphere Labs (LABZ.NE)
Market Cap ~ $15 million
Metasphere Labs Inc., a digital agency, engages in the design, development, and sale of non-fungible tokens (NFTs) in Canada and internationally. The company offers 3D digital assets for existing NFT communities; NFT minting services; merchandise sales; utility services; and advertising and sponsorship services, as well as creates digital assets, such as additional clothing for avatars or tools to be used by the avatars within the House of Kibaa (HOK) origins metaverse. It also offers NFT marketing, development and minting, NFT community growth and moderation, brand design and management, smart contracts and legal, and metaverse integration services.
The stock is down 39% on no news.
A major breakdown was confirmed yesterday with the close below $1.60. A broad head and shoulders pattern triggered. Some support could be found at $0.50, but this looks like it wants to test $.25 based on the selling pressure.
SRQ Resources (SRQ.V)
Market Cap ~ $3.1 million
SRQ Resources Inc. engages in the base metal exploration and development business in Canada. The company explores for nickel, copper, and the platinum group elements. Its flagship project is the Lac Brulé project, which consists of 507 contiguous mining claims covering an area of approximately 29,183 ha located in Québec.
The stock is down 18% on no news. Yesterday, the Company announced assay results.
The momentum from the large pop is pretty much kaput. Profits are being taken. There was no momentum on this large green candle. The stock is likely to test support at $0.08.
Bayridge Resources (BYRG.CN)
Market Cap ~ $21 million
Bayridge Resources Corp. is a green energy company advancing its portfolio of Canadian uranium and lithium projects. The 1,337 ha Waterbury East project is located 25 km northeast of the Cigar Lake Mine in the northeastern Athabasca Basin region. Geophysical surveys have identified a 7km long conductivity corridor where mid-2000’s drilling highlighted faulted and altered basement rock with local uranium enrichment.
The stock is down 14% on no news.
The downtrend remains with the lower high being formed. There is support here at the $0.30 zone and the stock could begin to range here which would indicated selling exhaustion.
American Aires (WIFI.CN)
Market Cap ~ $30 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 21% on no news.
The downtrend continues with lower highs and lower lows. Support is here at $0.25 and we did print a nice hammer candle there a few days ago. Bulls should watch for a close above $0.50 for the ending of this downtrend.
