January 18, 2017 - 10:25 PM EST
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Midday Alert: Relentless Resources Ltd. (CDX:RRL:CA) Pressures TSX Venture Basic Materials Stocks with 13.33% Decline in Morning Trading on January 18

Relentless Resources Ltd. (CDX:RRL:CA) is amongst the weakest basic materials stocks listed on the TSX Venture Exchange through noon on January 18, with a fall of 13.33%. After closing the previous session at $0.15, shares of RRL:CA opened this morning at $0.13 and are currently trading at $0.13. At the lunch break, about 80,000 shares have changed hands, compared to an average 30-day volume of 52,042 for Relentless Resources Ltd.. Shares moved as high as $0.15 and as low as $0.13 in today’s morning action. The share depreciation gives the company a market capitalization of $10.63 million based upon 70.86 million shares outstanding. In the past 52 weeks, shares of Relentless Resources Ltd. have traded as low as $0.055 and as high as $0.185. Technical traders will take note that at $0.13, shares of RRL:CA are trading above their 50-day moving average (MA) at $0.082 and above their 200-day MA at above $0.088. 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 $Relentless? Relentless Resources Ltd is an oil and natural gas company. The Company is engaged in exploration, development, acquisition and production of natural gas and medium to light gravity crude oil reserves in Alberta. The company is led by its CEO Daniel Wilson from its headquarters at 700-4th Avenue SW. For more information on Relentless 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 12:00 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

Source: Financial Press News (January 18, 2017 - 10:25 PM EST)

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