Technical analysis is used by some to predict the movement of a particular stock or index. SmallCapPower, then, has shortlisted three Canada-listed small cap stocks that have recently broken through their 50 Day Moving Average by 25% or more.
Oando Energy Resources Inc (TSX: OER)
Oando Energy Resources Inc. acquires, explores, develops, and produces oil and natural gas primarily in Nigeria, and São Tomé and Príncipe. It holds interests in 11 licenses in oil and gas fields or blocks, which are located onshore on land or swamp, and offshore in shallow or deep waters in Nigeria. The company is headquartered in Calgary, Canada.
- Market Cap: $1.03 Billion
- Recent Share Price: $1.30
- 50 Day SMA: $1.04
- % Above the 50 Day SMA: 25%
UrtheCast Corp. (TSX: UR)
UrtheCast Corp., a development stage company, focuses on the development and commercialization of high definition streaming videos and images of planet Earth from space. The company builds, launches, installs, and will operate two cameras mounted on the outside of the Russian module of the International Space Station (ISS). The images and video feed derived from the cameras will be downlinked through existing communication infrastructure on the ISS to a ground station network and then is expected to be transmitted to operations centers; sold to data customers; and processed and streamed over the Internet, television, and smartphones. The company intends to serve institutional users, including commercial and government customers. UrtheCast Corp. is headquartered in Vancouver, Canada.
- Market Cap: $144.71 Million
- Recent Share Price: $2.20
- 50 Day SMA: $1.42
- % Above the 50 Day SMA: 55%
NioCorp Developments Ltd. (TSX: NB)
NioCorp Developments Ltd. identifies, acquires, explores, and develops mineral resource properties in the United States, Canada, and Australia. The company explores for niobium and rare earth elements.
- Market Cap: $215.66 Million
- Recent Share Price: $1.47
- 50 Day SMA: $0.93
- % Above the 50 Day SMA: 58%
