Quick refresher to previous ideas on CPG. Patience will pay off on this trade. Owning CPG is pretty safe right now after 90% drop from highs and consolidation/reversal pattern showing up at the bottom.
Hello Friends,
This is complementary idea to long term CPG idea (linked).
Yesterday, CPG has completed Reciprocal AB=CD pattern and produced a bullish daily candle. I believe that correction from $4.46 to $3.33 is over now and CPG is ready to rally to its next target at around $6.21. That would be a retest of once major support break. It also coincides with...
Up up and away! Nearing a bottom at 5 years you have an inverted head and shoulders pattern which is a bullish bias. To get the profit target measure the length of the head as you see it on the chart then project the line upward to gain the standard measured target. In this case it's about 4.12. Remember that targets can be exceeded, not at all or within reach.
CPG (Crescent Point Energy) oil producer was beaten down over the years. I believe company has a lot of value and severely undervalued even at current WTI prices. Chart analysis shows that most likely CPG is likely bottoming. It producing Broadening Formation pattern accompanied with weekly RSI divergence on a high volume after very long trend down. This is the...
CPG, it's looking poised to go up again, I'm not entirely sure on this one....yet, but maybe just maybe...yeah it should make some gains wait a little longer for confirmation but yeah it's getting ready
Confirmed uptrend or very close to it, I see gains on this bad boy, and I might just have to say it will break 9.30 and keep going up..... just maybe...
-50 Week horizontal range
-Daily 50SMA is crossing above the 200SMA
-Well defined boundaries
-Daily bollinger bands are starting to squeeze as price moves to upper boundary
40 basis points of risk planned
Am a buyer above 9.38
Measured move @ 12.08
Assuming CPG shows signs of stopping volume as it falls back into the accumulation zone here, the 6.45 - 6.48 zone appear to be a potential low-risk long entry with use of a tight stop.
Crescent Point Energy Corp. (Crescent Point) is a Canada-based oil and gas exploration, development and production company. The Company is an oil and gas producer with assets consisting of light and medium oil and natural gas reserves in Western Canada and the United States. Its crude oil and natural gas properties and related assets are located in the provinces of Saskatchewan, Alberta, British Columbia and Manitoba, and the states of North Dakota, Montana, Colorado and Utah. The Company holds a portfolio of assets in the Canadian portion of the Williston Basin. It holds interest in the Bakken and Torquay resource plays in the Canadian portion of the Williston Basin. The southwest Saskatchewan region contains two focus resource plays that the Company is developing. These include Shaunavon resource play and Viking light oil resource play. The Company holds interest in the Uinta Basin resource play located in northeast Utah.
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CPG
