Sundance Resources (SDL): Winner of the Week

Submitted by Share Trading on 1 June, 2008 - 13:27

Sundance Resources (SDL) was the overall best performing stock taking in a 47.05 percent increase. The technical chart of the Sundance Resource stock price shows the rise and fall of their stock price. Last week presented a spike which broke the 100 day exponential moving average. Also note that the chart is in logarithmic scale (which displays price movements which is proportional with respect to percentage values) and also the spike in volume. Among the best performing stocks for the week 22 of 2008 on the Australian sharemarket were a mixture of mineral and mining, oil refining, gas and oil exploration, and property development: Fortescue (FMG), Caltex Australia (CTX), Santos (STO), Sundance Resources (SDL), FKP Property (FKP), Felix Resources (FLX). Majority of the top gainers for week 22 were oil and mining companies and managed gains over 9.50 percent.

Fortescue, a well-positioned company to become the next Australian mineral export heavy-weight and which has a market capitalisation of around $26 billion, was the best performing stock on the ASX, seeing 11.04 percent increase, adding $1.09 and closing at $10.65. Caltex Australia, the largest refiner and marketer of petroleum products in Australia with operations in all states and territories, came in the second position adding $1.46, closing at $14.95 and increasing 10.82 percent. Caltex Australia was followed by Santos, Australia's largest domestic gas provider who supplies sales gas to all mainland Australian states and territories and ethane to Sydney, adding $1.83 and closing at $21.08 (+9.50%). On the ASX 200 index, Sundance Resources, an international Iron exploration company based in Perth and owns a key Iron Ore project located in Mbalam – Cameroon (West coast of Africa), secured the first place adding 12 cents, increasing 47.05 percent and closing at 38 cents. Sundance Resources is involved in iron Ore, copper, gold and other base metal exploration. FKP Property came next in the line seeing 18.20 percent rise, adding 61 cents and closing at $3.96. FKP Property was followed by Felix Resources, an expanding company with a primary focus on the mining of coal and the development and operation of coal related assets, adding $3.00 and closing at $23.10 (+14.92%).