Looking at a head and shoulders pattern forming. After taking a beating due to oil prices, the stock is looking at a textbook head and shoulders pattern. Although oil fears continue, the stock has dropped so much over the past few weeks with zero recovery so far, it is worth the play.
Daily 9 on the TD Sequential. CPG has gone up exponentially so I am expecting a pullback at the very least the prior support level. A daily close above 5.6 would invalidate this trade idea.
This is a nice speculative buy and hold at these prices given solid assets, downstream producer not very sensitive to the WCS/WTI differential, above 7% divi at these $4.88 prices. Could see further selling pressure as margin calls possibly intensify but nice setup here for a rebound based on oversold daily RSI and a STO wound up. Canadian Oil stocks are for...
CPG is going to get bought. Just a matter of time. I would say wait for the stock price to make a new low (since inception) and I think you'll see a major step in and buy these assets. Major conventional player in the Western Canadian basin with established leases in friendly O&G communities. CEO stepped down in May (started the company) so the major psychological...
Crescent Point Energy Corp. engages in the exploration, development, and production of oil and gas properties. Its focus areas include: Viewfield Bakken, Flat Lake Torquay and Shaunavon. The company was founded on April 20, 1994 and is headquartered in Calgary, Canada.
CPG
