January 18, 2017 - 10:36 PM EST
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Simba Energy Inc. (CDX:SMB:CA) Surges 4.55% in Early Trading on January 18 to Lead TSX Venture Basic Materials Stocks

Simba Energy Inc. (CDX:SMB:CA) came out strong at the opening of trading on January 18, outpacing most other basic material sector peers listed on the TSX Venture Exchange with an early advance of 4.55%. After closing the previous session at $0.11, shares of SMB:CA opened this morning at $0.115 and are currently trading at $0.115. So far, about 18,500 shares have changed hands, compared to an average 30-day volume of 399,207 for Simba Energy Inc.. Shares moved as high as $0.115 and as low as $0.11 in today’s early action. The share appreciation gives the company a market capitalization of $43.89 million based upon 398.99 million shares outstanding. In the past 52 weeks, shares of Simba Energy Inc. have traded as low as $0.035 and as high as $0.115. Technical traders will take note that at $0.115, shares of SMB:CA are trading above their 50-day moving average (MA) at $0.083 and above their 200-day MA at above $0.079. 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 $Simba Egy In? Simba Energy Inc is an oil and gas exploration junior focused on the onshore frontier basins of Africa. The Company's portfolio comprises onshore PSCs in Chad, Kenya and Guinea. Its onshore PSCs in Ghana, Mali and Liberia are currently being ratified. The company is led by its CEO Punkaj Gupta from its headquarters at 905 West Pender Street. For more information on Simba Egy In 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


Source: Financial Press News (January 18, 2017 - 10:36 PM EST)

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