Commodity inflation is here, $USOIL is breaking out of the generational bearmarket and this is THE GENERATIONAL LONG.
$SU Suncor Energy has exposure to the oil sands which I think means the margins are possibly lower and they are more hated for environmental reasons? - This is what the chart suggests.
The slingshot higher should melt faces as all the flows pour...
$SU is building support at the 382 fib level and if it takes off to a previous peak and then to fill the gap there's 16-38% gain. Options available on this one!
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...
SU is seeing a classic W pattern establishing a channel. If we see a breakout from that 19.30 resistance line we may be on the way to $25+. Looking for green over the next week or two. Oil always does well in June.
Crude oil said to rise to 65$ 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 $XEG.CA for canadian energy oil gas etf.
Initially bought the failed breakout, unfortunately.
This is showing bullish divergence on 60 min and falling wedge pattern. Expecting trend reversal this week.
hello everyone,
as you can see Suncor energy has almost finished a 30 years elliott wave grand super cycle, (almost since i was born ^^) and the giant oil and gas company took a hit as many leading company in the oil industry, i think it is going to take a lot of time to recover, but i believe this company is too big to fall, also i believe it is a golden...
Suncor potential upside to 24 dollar range (~10%). The idea is based on trend but also the prospect of a stimulus bill sending stocks into a Christmas rally early next week. Cheers!
Buy Price: 22.41
Sold: __________
Suncor has been another fantastic play since the 15$ entry.
Now entering a new zone a bit high on the RSI's.
Stock is still undervalued.
Looking for a strong push from here to next fib line so RSI can reset down before another two waves up.
Stop Loss in case of breakdown, although unlikely.
Hello fellow traders,
Today we are looking at Suncor Energy Inc (SU) on the TSX. As we can see, following the COVID dump in March, the chart has printed a nice double bottom around $14 on the daily time frame. Prices have moved above all EMAs except for the 200 EMA , which is currently being tested for a breakout. We also see some large buying volume coming in...
