September 8, 2016 - 10:55 PM EDT
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Midday Update: Torchlight Energy Resources Inc. (TRCH) Charges Ahead 8.7% on September 8

Torchlight Energy Resources Inc. (TRCH) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector during morning trading on September 8. At the lunch break, shares of TRCH have gained 8.7% to $1.25 after closing the day prior at $1.15. In the first two and a half hours of trading, the stock has gone as high as $1.27 and as low as $1.14. Today's rise has come with about 96,498 shares changing hands, compared to an average 30-day volume of 259,631 for Torchlight Energy Resources Inc.. The price is currently below the 30-day volume weighted average price of $1.22 for TRCH. The share appreciation gives the company a market capitalization of $54.65 million based upon 47.52 million shares outstanding. It also means that TRCH has a price-to-book ratio of 14.45:1. In the past 52 weeks, shares of TRCH have traded as low as $0.42 and as high as $2.44. Technical traders will take note that at $1.25, shares of TRCH are trading above their 200-day MA at $0.88 and above their 50-day MA at $1.17. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish. Who is TRCH? Torchlight Energy Resources Inc, through its subsidiaries, engaged in the acquisition, exploration, exploitation, and/or development of oil and natural gas properties in the United States. The company’s 6 employees are led by CEO John A. Brda from the corporate headquarters at 5700 West Plano Parkway in Plano, TX. For more information on TRCH and other companies trading on the major exchanges, as well as the over the counter markets, 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 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.


Source: Financial Press News (September 8, 2016 - 10:55 PM EDT)

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