Madalena Energy Inc (CDX:MVN:CA) Advances 3.45% on April 28, Leads TSX Venture Basic Materials Sector

With an advance of 3.45%, Madalena Energy Inc (CDX:MVN:CA) was one of the best performing basic material stocks listed on the TSX Venture on April 28. After closing the previous session at $0.145, shares of MVN:CA opened this morning at $0.15 and closed the day at $0.15. Throughout the day, about 1.98 million shares changed hands, compared to an average 30-day volume of 355,867 for Madalena Energy Inc. Shares moved as high as $0.15 and as low as $0.145 in today’s trading action. The share appreciation gives the company a market capitalization of $78.85 million based upon 543.78 million shares outstanding. In the past 52 weeks, shares of Madalena Energy Inc have traded as low as $0.055 and as high as $0.205. Technical traders will take note that at $0.15, shares of MVN:CA are trading below their 50-day moving average (MA) at $0.155 and above their 200-day MA at above $0.141. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move above them or holding over them is typically regarded as bullish. Who is $Madalena Egy? Madalena Energy Inc is a Canadian upstream oil & gas company. It has operations in four provinces of Argentina where it is focused on the delineation of unconventional resources in the Vaca Muerta shale, Lower Agrio shale and Loma Montosa oil plays. The company is led by its CEO Steven B. Sharpe from its headquarters at 500 - 4th Avenue SW. For more information on Madalena Egy 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 4:00 PM 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