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.
Oil has been beaten down by Covid, fundamentally SU is worth way more than the current prices. Now turning towards a reversal on low volume signifies that there are fewer sellers than buyers right now. Could be potential for a gap up in the next few weeks.
Was asked by a follower to do Suncor. Was a great idea so here it is.
BTW, Suncor trades on both Canadian and US markets. So this applies applies for both markets.
Left hand side graph shows a confirmed Cup'n handle on the daily with a possible total gain of 28% and a price target of 30.83$. Not a lot, but still an uptrend.
Right top graph shows the weekly chart,...
A lot going on with SU.
Confirmed golden cross
Positive oil prices
Excellent balance sheet
broke through resistance and now setting up to fill the gap up tp 26.23.
The tank is full and we are ready to ride.
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...
This stock relies heavily on the rapidly changing fundamental analysis with changing market conditions. Key support and resistance levels noted in orange on graph. Trend analysis, and trend directions noted in solid blue lines. With rapidly changing market conditions, this could create volatility.
NEW POSITION $SU Target 26.22 for 46.27%
Next add level at 16.29
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On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average.
ONLY ADD at support levels & FIB levels… labeled
I start every position with .5 - 1% of my account and build from there as needed and as...
Hello, fellow traders and investors SU and other oil & gas companies have sold off in the past weeks and they look like interesting buying opportunities. My personal favorite is suncor since it offers a good ROI and they are slightly profitable, unlike many others. If SU makes a recovery to the take-profit area it offers a 22% ROI.
Entry: Now
Take Profit:...
