January 18, 2017 - 10:36 PM EST
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Traverse Energy Ltd. (CDX:TVL:CA) Skids 1.28% in Early Trading on January 18 to Drag on TSX Venture Basic Materials Sector

Traverse Energy Ltd. (CDX:TVL:CA) came out weak at the opening of trading on January 18, outpacing most other peers in the basic materials sector listed on the TSX Venture Exchange with an early decline of 1.28%. After closing the previous session at $0.39, shares of TVL:CA opened this morning at $0.385 and are currently trading at $0.385. So far, about 61,000 shares have changed hands, compared to an average 30-day volume of 45,687 for Traverse Energy Ltd.. Shares moved as high as $0.4 and as low as $0.385 in today’s early action. The share depreciation gives the company a market capitalization of $33.79 million based upon 86.64 million shares outstanding. In the past 52 weeks, shares of Traverse Energy Ltd. have traded as low as $0.285 and as high as $0.55. Technical traders will take note that at $0.385, shares of TVL:CA are trading below their 50-day moving average (MA) at $0.417 and below their 200-day MA at below $0.437. 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 $Traverse Egy? Traverse Energy Ltd explores, develops and produces petroleum and natural gas in Alberta, Canada. Its current production consists of natural gas, oil and associated liquids. The company is led by its CEO Laurie Smith from its headquarters at 839 - Fifth Avenue SW. For more information on Traverse 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. 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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