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
Fortune Minerals (FT.TO)
Market Cap ~ $62 million
Fortune Minerals Limited engages in the exploration and development of specialty metals, base metals, and precious metals in Canada. The company explores for gold, cobalt, bismuth, copper, silver, lead, and zinc deposits. Its primary asset is the NICO gold-cobalt-bismuth-copper project covering an area of 5,140 hectares located in the Northwest Territories. The company holds interest in Sue-Dianne and Salkeld Lake Property located in the Northwest Territories.
The stock is up 38% on no news.
A very nice continuation on the breakout. The breakout occurred with a close above $0.06 and we now have our first higher low in a new uptrend. Resistance comes in around the $0.15 zone.
Lomiko Metals (LMR.V)
Market Cap ~ $22 million
Lomiko Metals Inc. engages in the acquisition, exploration, and development of resource properties in Canada. It explores for graphite and lithium deposits. The company’s flagship project is its 100% owned La Loutre graphite property located in Laurentian region of Quebec.
The stock is up 83% on no news.
Some choppy price action but we have a breakout which is being confirmed with the first higher low. The next resistance comes in around the $0.08 zone.
Simply Solventless Concentrates (HASH.V)
Market Cap ~ $14 million
Simply Solventless Concentrates Ltd. cultivates, processes, formulates, manufactures, and sells a portfolio of terpene-rich solventless concentrates for the recreational, medical, and business to business cannabis markets in Canada.
The stock is up 30% on news of Q2 2024 guidance including record projected quarterly revenue and a seventh straight quarter of net income profit.
Limited price action on the chart but we have a breakout in motion. First off, it is important to note the stock confirmed a false breakdown with a close below $0.22. And this is being confirmed today with the breakout to the upside and on the news. The next target is previous record all time highs.
Copper Fox Metals (CUU.V)
Market Cap ~ $159 million
Copper Fox Metals Inc. engages in the exploration and development of copper mineral properties in Canada and the United States. The company holds interest in the Schaft Creek copper-gold-molybdenum-silver project located in northwestern British Columbia. It also holds interest in the Eaglehead porphyry copper project located in the Liard Mining District of British Columbia; Van Dyke, an advanced stage in-situ copper recovery project located in the Globe-Miami Mining District, Arizona; Sombrero Butte project located in the northeast of Tucson, Arizona; and Mineral Mountain copper project, which is located in Florence, Arizona.
The stock is up 26% on no news.
Profits have been taken and the stock has pulled back to retest a major support zone. Important price action today. Buyers are jumping in at support. I would not be surprised to see entries here with a stop loss below $0.20.
Eco Oil and Gas (EOG.V)
Market Cap ~ $105 million
Eco (Atlantic) Oil & Gas Ltd. engages in the identification, acquisition, exploration, and development of the petroleum, natural gas, and shale gas properties in the Republic of Namibia and the Co-Operative Republic of Guyana. The company holds a 15% working interest in the Orinduik block comprising 1,800 square kilometers located in the Suriname Guyana basin; and 17.5% interests in the Canje Block covering an area of 4,800 square kilometers located in Guyana. It also holds 85% working interest in the Cooper Block, which covers an area of approximately 5,788 square kilometers; 85% working interest in the Sharon Block, which covers an area of approximately 5,700 square kilometers; 85% working interest in the Guy License covering an area of approximately 11,457 square kilometers; and an 85% working interest in the Tamar Block that covers an area of approximately 5,649 square kilometers located in the Walvis Basin offshore, Namibia.
The stock is up 16% on no news.
A higher low is being confirmed and the beginning of a new uptrend. We had a nice breakout above $0.20 and the buyers are keeping this move intact. The next major resistance comes in at the $0.35 zone.
Top 5 Losers
Deveron Corp (FARM.V)
Market Cap ~ $9.4 million
Deveron Corp. provides data collection and analytics services to the agricultural industry in Canada and the United States. It offers data acquisition services and data analytics based on digital recommendations and data interpretations. The company provides data collection services, including data collection for soil sampling, drone data, etc. It also offers services in the areas of fertility sampling, agronomic insights, lab sciences, carbon, soil health, and field imagery.
The stock is down 36% on news that it has received a letter from two unsecured creditors demanding repayment of the unsecured loans evidenced by promissory notes dated May 20, 2022 issued by Deveron in connection with the acquisition of a 67% interest in A&L Laboratories Canada East, Inc. no later than May 30, 2024.
New record lows on the news. Also it is very likely we will confirm a major support breakdown by the end of the day. The Company is assessing its options to resolve these debts. Until then, a range will be the best case scenario for buyers.
Plurilock Security (PLUR.V)
Market Cap ~ $29 million
Plurilock Security Inc. operates an identity-centric cybersecurity company in the United States, India, and Canada. The company operates in two divisions, Technology and Solutions. It offers Plurilock DEFEND, Plurilock DEFEND, an enterprise continuous authentication platform that confirms user identity or alerts security teams to detected compromises in real time; Plurilock AI DLP that helps in data loss prevention and cloud security; and Plurilock AI Cloud that provides access management, email data security, and compliance for cloud environments.
The stock is down 20% on no news.
The stock attempted to take out the psychological $0.50 zone. Sellers piled in and the stock is now falling hard. The next support comes in at the $0.205 zone.
X1 Entertainment (XONE.CN)
Market Cap ~ $2.3 million
X1 Entertainment Group Inc. does not have significant operations. Previously, it was owned and operated RixGG, an esports franchise; X1 Talent, a boutique talent management group for digital content creators; ShiftRLE, an online news outlet focused on the popular video game Rocket League; and Octane.GG, an online fan statistics platform focused on the Rocket League video game.
The stock is down 15% on no news.
The stock is falling to test the support zone at $0.12. So far, buyers are jumping in as evident by the dragonfly candlestick. A single candlestick is not bad, but generally, we want to see how the following candle prints to confirm the buyers hammering down a bottom.
Battery Minerals Resources (BMR.V)
Market Cap ~ $19 million
Battery Mineral Resources Corp., a battery minerals company, engages in the acquisition, exploration, and development of battery mineral properties in the battery and energy storage sectors. The company primarily explores for cobalt, gold, copper, lithium, and graphite deposits. Its flagship project is the Punitaqui copper-gold complex located in the Coquimbo region of Chile.
The stock is down 12% on no news.
The stock has attempted to continue a move but is seeing resistance at $0.12. If the stock can remain above $0.10, there is a good chance for a follow through move to take out $0.14.
Intrepid Metals (INTR.V)
Market Cap ~ $24 million
Intrepid Metals Corp. engages in the acquisition, exploration, and development of mineral properties. It explores for silver, copper, gold, lead, and zinc deposits.
The stock is down 8.4% on no news.
We triggered a head and shoulders reversal pattern with a close below $0.65. Support comes in at the major $0.50 psychological zone. Watch to see if buyers will step in here.
