Hey people, SUNCOR ENERGY is in a bullish momentum with a hammer candle and a return of large buying volume. By looking at the TIMEFRAME M1 we notice a dash with a large volume of purchases made which has gone to test the top of the comfort zone. Great possibility of breaking out the zone afterwards the price to go away on the one above and to land on the last...
Hi, Just saw a good technical setup if you are looking to enter long position fundamentally. I would enter at this price. 22.60ish with SL @ 22 and TP1 @ 26 TP2 @35.
Seems like completed a wave (1) within wave ③ I'm new to Elliot Waves, any constructive criticism greatly appreciated.
Wave 1 had an impulse of 14.85%, wave 3 being the longest, wave 5 should have an equal 14.85% impulse once wave 4 completes.
Seeing a bounce off occurring, creating a double bottom. However, the long is not for long . Until the oil demand picks up this stock will stay a sell. As of now, this stock is way below fair value prices and will show a bounce back for a short term at least.
There ae two important levels here 14.74 and 14.02 the two important levels of support. We don't have a crystal ball to know when the the bottom is in but we need to wait and see how price action interacts with the levels before we buy. Likely a bullish divergence will form as it reaches 14.74 and if you are an investor I'd be ready to DCA to 14.02 . The wedge...
obviously it depends on Crude prices but close to a long term support level, may bounce back to prior support for a nice gain and then sideways for a while.
For 20 years, the market has never had anything but dips to buy. Even the 2008 "Financial Crisis" was just a dip to buy. Even the March illusion of a pandemic was just a dip to buy. However, a pendulum always swings from one side to another. What throws people off and makes trading so difficult is that you can know: Where the market is going What direction...
SU SUNCOR is oversold, and I'm using 3 indicators to confirm that. The reasons why I bought now: Warren Buffett added SU George Sorros added SU and lastly, because it is oversold. It is also a common consensus that this company will flourish if JB wins the US election. Happy trading and hit like if you found this useful and helpful. Thanks, E
-Head and shoulder, failed at new high, sign of weakness. -Overall bullish, Suncor's assets alone are worth around 16$. -Short term, Oil taking a hit with consumer's sentiment shifting towards renewable energy + OPC cuts. -Pre-COVID levels indicated regular increase in Oil consumptions, we're far from being OIL free. -If 17.47 small support breaks, I'm out. Thank you
Information Position: Long # of Stocks: 4 Price: 21.08
Information Position: Long Size: 4 Price: 22.19
DATE: JUNE 27 EMA 20 - BELOW EMA 50 - BELOW RSI: neutral FStoch: BELOW 20 (consolidation zone) HMA: Trending downward / near reversal Pattern Reversal: LONG Term Bullish MACD: Trending DOWN Action: potential UPTREND 25% Strategy: LONG Candlestick confirmation: Chart Pattern: Broadening Bottom/ Falling Wedge Volume: Avg
Information Position: Long Size: 4 Price: 25.07
If holds, could be breaking support. Can set stop outlined here and target to earn profits in the next swing cycle of about 10 days.