September 21, 2016 - 10:44 AM EDT
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Manitok Energy Inc. (CDX:MEI:CA) Surges 10.0% in Early Trading on September 21 to Lead TSX Venture Basic Materials Stocks

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Manitok Energy Inc. (CDX:MEI:CA) came out strong at the opening of trading on September 21, outpacing most other basic material sector peers listed on the TSX Venture Exchange with an early advance of 10.0%. After closing the previous session at $0.1, shares of MEI:CA opened this morning at $0.11 and are currently trading at $0.11. So far, about 9,581 shares have changed hands, compared to an average 30-day volume of 159,431 for Manitok Energy Inc.. Shares moved as high as $0.11 and as low as $0.11 in today’s early action.

The share appreciation gives the company a market capitalization of $21.06 million based upon 210.62 million shares outstanding.

In the past 52 weeks, shares of Manitok Energy Inc. have traded as low as $0.1 and as high as $0.44. Technical traders will take note that at $0.11, shares of MEI:CA are trading below their 50-day moving average (MA) at $0.134 and below their 200-day MA at below $0.162. 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 $Manitok Egy?

Manitok Energy Inc is engaged in the exploration for, and the development, production and acquisition of petroleum and natural gas reserves. The company is led by its CEO Massimo M. Geremia from its headquarters at 585 – 8th Avenue SW.


For more information on Manitok 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.

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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

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Source: Financial Press News (September 21, 2016 - 10:44 AM EDT)

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