East West Petroleum Corp. (CDX:EW:CA) Swoons 4.0% Just After Opening Bell on January 18, Pressuring TSX Venture Miscellaneous Sector

East West Petroleum Corp. (CDX:EW:CA) moved lower at the opening of trading on January 18, outpacing most other laggards in the miscellaneous sector of the TSX Venture Exchange by dropping 4.0%. After closing the previous session at $0.125, shares of EW:CA opened this morning at $0.12 and are currently trading at $0.12. So far, about 80,000 shares have changed hands, compared to an average 30-day volume of 29,796 for East West Petroleum Corp.. Shares moved as high as $0.12 and as low as $0.12 in today’s early action. The share depreciation gives the company a market capitalization of $11.2 million based upon 89.59 million shares outstanding. In the past 52 weeks, shares of East West Petroleum Corp. have traded as low as $0.07 and as high as $0.155. Technical traders will take note that at $0.12, shares of EW:CA are trading below their 50-day moving average (MA) at $0.123 and below their 200-day MA at below $0.125. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move beneath or holding under them is typically regarded as bearish. Who is $E W Pete Cor? East West Petroleum Corp is an exploration and production company. The Company is engaged in the acquisition, exploration and production of oil and gas properties in Canada and New Zealand. The company is led by its CEO David Sidoo from its headquarters at 1095 West Pender Street. For more information on E W Pete Cor and other companies trading on the TSX Venture Exchange, as well as other Canadian and American stock exchanges, or to be considered for contributing content for our distribution network, visit FinancialPress.com today. All data provided by QuoteMedia, with stock data accurate as of 9:30 AM ET. FinancialPress.com is not responsible for inaccuracies in third-party supplied information. About the TSX Venture Exchange Owned and operated by the TMX Group, the TSX Venture Exchange is a public venture capital marketplace for emerging companies. It is headquartered in Calgary, Alberta, Canada with offices in Toronto, Vancouver and Montreal. All trading on the exchange is done electronically. Originally established in 1999, the “Venture,” as it is often shortened, was previously known as the Canadian Venture Exchange, but renamed in 2001 subsequent to the TSX Group (now known as the TMX Group) purchasing it. About FinancialPress.com FinancialPress.com is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here. If you like this article, you can read more at FinancialPress.com