Sunset Pacific Petroleum Ltd. (CDX:SPK:CA) Advances 16.67% on December 30, Leads TSX Venture Basic Materials Sector

With an advance of 16.67%, Sunset Pacific Petroleum Ltd. (CDX:SPK:CA) was one of the best performing basic material stocks listed on the TSX Venture on December 30. After closing the previous session at $0.06, shares of SPK:CA opened this morning at $0.07 and closed the day at $0.07. Throughout the day, about 2.38 million shares changed hands, compared to an average 30-day volume of 278,636 for Sunset Pacific Petroleum Ltd.. Shares moved as high as $0.075 and as low as $0.065 in today’s trading action.

The share appreciation gives the company a market capitalization of $4.16 million based upon 69.34 million shares outstanding.

In the past 52 weeks, shares of Sunset Pacific Petroleum Ltd. have traded as low as $0.01 and as high as $0.105. Technical traders will take note that at $0.07, shares of SPK:CA are trading above their 50-day moving average (MA) at $0.064 and above their 200-day MA at above $0.053. 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 $Sunset Pac?

Sunset Pacific Petroleum Ltd is a junior resource exploration company. The Company is engaged in the acquisition, exploration and development of natural resource properties mainly oil and gas. The company is led by its CEO Albert Raponi from its headquarters at 938 Howe Street.

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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.

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