TSX:SU failed to break pass the resistance line at around $41.80~, the very low MACD is also starting to cross over and it looks like it is bouncing perfectly right off the Bollinger Band. Good long opportunity here until it needs to make a decision at the previous support trend line around the $47 mark.
Haven't wrote up a good chart in a while. Weekly Chart: Forming a strong inverse head and shoulders pattern with a cup and handle pattern as well. 3 Lines are my fav techs the Keltner Channel. Green line is middle kelt showing candle closing and holding above it on the week. Looking for close $31+ or over the middle kelt. Long term target: $36 Short term...
Price has broken down, next support is around 2% away. - Classic bearish ascending triangle pattern - MACD turning over and still negative - RSI breakdown - Price down trending, below all moving averages
Tracking of Suncor's stock values over the past few years.
Entry: 42.00 Stop Loss: 45.08 TP1: 40.30 TP2: 38.85 TP3: 37.35 Close 1/3 of the position whenever touch TP1 and break even Close 1/3 of the position at TP2
Suncor Energy Inc. broke out of the large accumulation base it formed between $24 - $31 this previous November. Now price has retraced and become bid right at pivot breakout support at $31. Moving Averages % Off 50 Moving Average: +1.5% % Off 200 Moving Average: +11.9% Support / Resistance Supp: $31 ; 50% pivot Res: $33.79 ; 61.8% pivot Volume +210% Above...
Any pull back is a buy.