This month, the shares of Alange Energy Corp. (CVE:ALE), (PINK:ALNGF) stock are maybe among the most traded and discussed.
Yesterday, ALE stock climbed to the podium and took the second place on the list of the most active by trading volume securities on the TSX Venture Exchange.
The climbing up of the company’s shares had four dimensions.
The first one was the above mentioned investor activity, measured by the volume traded during the trading session.
As expected, the second one was the next soar of the price of ALE. This Monday, ALE shot a new 52-week high at $0.80 per share, drawing on its price chart the Doji of investor uncertainty. In the following session, the bears prevailed, returning the price of ALE back by 10.26%.
Looks like the bullish mood was strong enough, since yesterday the buyers supported a 8.57% gain of ALE between the sessions.
The third dimension of the climbing up was measured by investor activity on the American OTC market. During the trading session, more than 3.6 million shares changed hands.
And the last and not less important climb up dimension was the share price increase. ALNGF added 10.90% to its value.[BANNER]
Last Wednesday, Alange Energy Corp. made the second for this moth update on its Topoyaco well. As the company stated, a test program is forthcoming, designed to confirm the fluid content and the productivity of the discovered zones. The released information about initial indications of oil pay rushed the company’s shares to the extend that maybe a lot of technical chart analysts did not expect.
Looks like the overall bullish mood does not accept even a price correction of ALE stock. In a month time, ALE stock noted only three times a negative price change between the sessions. The updates on the company’s Cubiro Block and Topoyaco resulted in a 81% gain of ALE stock since the end of September.
