vf_investment

BTE crossing under 50 SMA, MACD and RSI pessimistic

Short
NYSE:BTE   BAYTEX ENERGY CORP
Hello Traders!
The price of BTE looks like it's about to cross under the 50 SMA (sell signal). Combined with a pessimistic looking MACD and RSI , and a bearish MACD-divergence, we have reason to believe that the price is going to drop to the 0.35 support/resistance . In case the price crosses under the 100 SMA as well, it might even drop to 0.1993, but the SMAs didn't act as significant supports or resistances in the recent past, so the momentum gain from crossing the 100 SMA will probably be small.

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