I was overweight energy for most of 2022 selling my exposure around the summer and the remaining in the fall. It was not and easy decision but the trend in WTI and Brent prices was too bearish to ignore. Seems to me now It's only a matter of time we take out the 2022 low of 12.66, the more intriguing question is where we go once we get there ? On the weekly...
All of the fundamentals in the world tell everyone that because of mankind's insatiable requirement for oil to fuel its transportation network and electricity generation, supply and demand should result in a new all time high. This is correct. However, before this happens, the condition to be cleared first is that many unpleasant things will happen in the market...
Tourmaline's pullback from it's $80 all time high and its bounce off the previous all time high is simply not deep enough, as evidenced by today's stop run over the June monthly close, which also produced one of those very credible "head and shoulders" patterns, on the back of the maniacs in the Natural Gas market running a monster short squeeze that ruined a lot...
The truth is that the energy sector has been doing really well. WTI Crude appeared to can't stop won't stop, and then Natural Gas appeared to can't stop won't stop. Now, both NG1 and WTI are going to dump as the Federal Reserve points a nuclear bomb at the so-called "inflation," which in reality are high commodities and high stock prices. Shortly it will appear...
As shown, majority of energy stocks are starting to correct. Looking into the future, we believe these companies will provide amazing opportunities. We expect barrels of oil to reach $300-400 a barrel by the end of the decade. Recommend tracking this sector very closely for amazing opportunities.
SU has been held in a range over the last month between 35.77 & 38.62 levels. I expect a move to the downside, breaking the low of the range to entice short selling before repricing higher with an upside objective to 46.50 level.
The photo shows a cup and hold pattern forming. Price might go up to $40 In the next 2 days. Not a recommendation. For educational purposes.
Wondering if this hits C of the cypher before hitting a Giza slope price on a Pi Date in 2023. Never advice but a preview of the potential who could be. All inspired by from a horse farming penguin and some other cool people.
With the rising wedge and decrease in volume, I think we can see a nice down move here in the coming months. Happy Swinging, Stefan
The upward price pressure from the commodity versus the negative sentiment for the company make this a great candidate for day trading. As the gap grows between Suncor and its peers there are bigger opportunities to win on the overnight and morning dip/ afternoon dump.
Entering if price cross 200MA Bullish divergence on the RSI Bouncing of support level Macd Cross Current macro economics situation is in my opinion bullish for oil
This is a possible path (speculative) into a good buy zone. I think we finished the 5 waves up in weekly so this daily corrective move (a-b-c-d-e) could possibly be only the leg A of the ABC weekly correction. Either way I see us continue the reversal if we break the 200MA. There is also a strong bullish divergence. Over 25 I see 27 pretty easily. Note : This is...
While I think in general SU may retest it's highs in the 40's, I am looking at buying opportunities to load this one up with every dip. Looks like a bit of a pullback is coming (not big) as this continues to make it's way up as the summer months come. It is following its peak and valley pattern on the way up, and RSI indicates it should come down a bit. With...
Potential downside idea for Suncor Energy. If the tide shifts to bearish for usoil we can see downward pressure on energy stocks such as suncor and perhaps a movement to the lower end of the channel
650M of the total shares of 1.5B is already on the short side. The company will continue with his shares buyback program : Suncor Energy shares outstanding for the quarter ending September 30, 2020 were 1.525B, a 1.87% decline year-over-year. Suncor Energy 2019 shares outstanding were 1.561B, a 4.17% decline from 2018. Suncor Energy 2018 shares...
Crude oil said to rise to 65$ by the end of summer according to bloomberg analysts. Suncor Energy $SU taking off price target 30-40$. Warren Buffett currently owns this stock. Also check out ticker $XEG.CA for canadian energy oil gas etf.