DeFi
Top 5 winners and losers: AMK.V, DEFI.NE, GXU.V
In this summary report, we’ll take a quick look at the top 5 winners and losers up or down double digits in the Canadian stock markets.
Here is a summary of the assets’ intraday action:
American Creek Resources (AMK.V)
Market capitalization ~$92 million
American Creek Resources Ltd. is engaged in the exploration and development of mineral properties in Canada. It mainly explores gold and silver deposits. The Company’s flagship property is a 20% interest in the Treaty Creek Project located northeast of Stewart, British Columbia.
The stock is up 66% after announcing the conclusion of a non-binding, arm’s-length letter of intent dated June 5, 2024 with Cunningham Mining Ltd. to engage in due diligence and negotiations regarding the terms of a proposed transaction by which Cunningham, or an affiliate of Cunningham, would acquire all of the issued and outstanding securities of the Company. Through this proposed transaction, Cunningham would acquire control of The Company’s wholly owned 20% interest in the Treaty Creek property, which has indicated mineral resources of 27.87 million ounces (Moz) of AuEQ grading 1.19 g/t AuEQ and inferred mineral resources of 6.03 Moz of AuEQ grading 1.25 g/t AuEQ at a price of C$0.43 per common share.
The title was around the support and is now the subject of big news. It is now up to the special committee to finalize the proposed transaction.
DEFI Technologies (DEFI.NE)
Market capitalization ~$548 million
DeFi Technologies Inc., a technology company, develops and lists exchange-traded products in Canada, Bermuda and the Cayman Islands. The Company provides asset management services, such as investment vehicles, indirect exposure to underlying cryptocurrencies, digital asset indices and other decentralized financial instruments. It also participates in decentralized blockchain networks by processing data transactions that contribute to network security and stability, governance and validation of transactions.
The stock is up 16% without news. Yesterday the company announced a normal course issuer bid.
The uptrend continues after breaking above the $0.70 range. $2.00 is the next major resistance zone and target.
Oceanic iron ore (FEO.V)
Market capitalization ~$10 million
Oceanic Iron Ore Corp., an exploration-stage company, is engaged in the acquisition and exploration of iron ore properties in Quebec, Canada. It holds a 100% interest in the Ungava Bay iron property comprising three project areas, including Hopes Advance, Morgan Lake and Roberts Lake, with 844 claim cells covering an area of approximately 35,264 hectares of iron formation located in Nunavik, Quebec.
The stock is up 35% without news.
The title evolves and experiences a breakout. A daily close confirmation above $0.10 will be important. Yesterday’s candle tried to do this, but failed. This is why close confirmations are important.
LQWD Technologies (LQWD.V)
Market capitalization ~$13 million
LQWD Technologies Corp., a technology applications company, focuses on Lightning network products in Canada. The Company operates coincurve.com and buybitcoincanada.com, a virtual currency platform. It also provides infrastructure to facilitate payments under the name Lightning Network. Additionally, the company focuses and develops various web platforms.
The stock is up 37% without news.
The break above $0.60 resulted in a pullback and retest, and the stock is now above the current flag pattern. This seems optimistic. Watch for a confirmed close above $1.10 to trigger the breakout.
GoviEx Uranium (GXU.V)
Market capitalization ~$85 million
GoviEx Uranium Inc., a mineral resources company, is engaged in the acquisition, exploration and development of uranium properties in Africa. The company’s main asset is the 80%-owned Madaouela project, located in north-central Niger. It also holds 100% interest in the Muntanga project which includes 3 mining permits located south of Lusaka, Zambia; and the Falea project, which includes three exploration permits located in Mali.
The stock is up 16% following news that it received from the Nigerien government its radiological certificate for the Madaouela uranium project. The radiological certificate is a regulatory requirement prior to the start of mining operations and confirms the completion of basic radiological studies.
The stock is trying to close the gap at $0.12. We could be bracing ourselves for a higher low here, supported by today’s news. Watch for a close above $0.12 to trigger a new uptrend.
MAX Resource Corp (MAX.V)
Market capitalization ~$18 million
Max Resource Corp. is engaged in the acquisition and exploration of mineral properties in South America and Canada. The company explores silver and copper deposits. It holds a 100% interest in the Cesar Copper-Silver project which includes 20 mining concessions covering approximately 188 square kilometers located in northeastern Colombia.
The stock is down 33% with no news. Trading in the stock was halted earlier today.
The stock is down after trading resumed. In general, what happens? Major support now stands at $0.085.
Davids Tea (DTEA.V)
Market capitalization ~$3.8 million
DAVIDsTEA Inc. operates as a tea retailer in Canada and the United States. It offers loose leaf teas, pre-packaged teas, tea bags and tea-related gifts; tea accessories; and food and drinks. The company also offers its products through the e-commerce platform davidstea.com; the Amazon marketplace, its wholesale customers; and company-owned storefronts.
The stock is down 20% with no news.
A strong downtrend with new all-time lows being printed. No signs of selling pressure exhausting yet. Potential buyers should watch for a strong single range or candlestick, such as an engulfing candle or hammer.
Rock Tech Lithium (RCK.V)
Market capitalization ~$169 million
Rock Tech Lithium Inc. is engaged in the exploration and development of lithium properties. The Company focuses on the development and optimization of battery-grade lithium hydroxide monohydrate. It holds a 100% interest in the Georgia Lake lithium project located in the Thunder Bay mining district of Ontario.
The stock is down 16% with no news.
Just a pullback currently after breaking above the $1.40 area. A potential retest of the breakout zone is possible.
Pulsar Helium (PLSR.V)
Market capitalization ~$89 million
Pulsar Helium Inc. is engaged in the acquisition, exploration and development of helium properties in the United States and Greenland. Its flagship project is the 3,132-acre Topaz Project located in Lake County, Minnesota.
The stock is down 11% with no news. Yesterday the company announced the safe and on-time completion of logging, completion and flow testing activities at the Jetstream #1* appraisal well of its flagship Topaz helium project.
A significant range is being broken. A close below $1.00 was the starting sign, and today’s candle may close below the lows. The next support stands at $0.50.
Sernova Corp (SVA.TO)
Market capitalization ~$97 million
Sernova Corp. operates as a clinical-stage regenerative medicine therapeutic company in Canada. The Company is focused on the development and commercialization of regenerative medicine therapeutic products, including its proprietary Cell Pouch and related technologies comprised of therapeutic cells and local cellular immune protection. Its Cell Pouch is a new, scalable, implantable medical device that forms a natural environment in the body for the housing, survival and long-term function of therapeutic cells, which release necessary proteins or missing factors in the body to treat diseases. chronic diseases as an alternative. to the daily administration of medications.
The stock is down 11% following the announcement of public offering of units marketed for minimum gross proceeds of $6,500,000 and up to maximum gross proceeds of $10,000,000. Each unit will be offered at a price of $0.33 per unit.
The stock seemed to have bottomed out with the big green engulfing candle printed a few days ago. Now the stock drops to reflect the offering price. Monitor the support to be held for a possible base.