Simple longer term swing on this energy ETF. Still in a large sideways wedge. Due to this keeping position size low.
I was overweight energy for most of 2022 selling my exposure around the summer and the remaining in the fall. It was not and easy decision but the trend in WTI and Brent prices was too bearish to ignore. Seems to me now It's only a matter of time we take out the 2022 low of 12.66, the more intriguing question is where we go once we get there ? On the weekly...
We have the Monthly and Weekly candles already 2 to the upside. I am looking for continuation to the upside the rest of the month with crude prices seemingly having found a bottom. Favorite pick in sector is ENB / CVE / WCP We need that monthly candle to remain green 2 to the upside to stay long
Hello everybody, We are looking at XEG-T today. We are short term bullish. We believe a bearish flag is forming. We will enter a limit sell order at $8.80 which is in contact with the upper band trendline for half the position. We will continue to hold the other half of the position and look to make an exit at $9.61. We will hold a stop loss at $7.60 for the...
The daily chart gives me a little more optimism in the recovery of this beleaguered ETF and energy stocks in general. As I noted in my previous analysis, XEG has been in a downward channel for the last 10 years - wow! Is there a chance of recovery? If it breaks $8.20 level we can see the price appreciating all the way up to $9.50. Let's see if that happens...
XEG has been in the downtrend for over 10 years (!) all the way till it hit its lows at $2.54 in March 2020. But then a bounce happened that seems to be able to sustain momentum on the monthly chart. Will the downtrend ever end? I expect it to at least reach the upper bound of the downtrend channel around $10. Too optimistic? Not a financial advice, please do...
This one is part of iShares and as such it contains the safest of the Canadian Energy Companies. The distribution is garbage right now with 0.02 /q but the history of this one has distributions as high as 0.08 in recent (2 years) history. A decent way to ride energy up. Not saying we are in a bull market on oil and no one knows where it is going over the next...
A quick analysis of TSX:XEG . Let me know what do you think below.
I have had conversations with friends who are thinking of bottom fishing in the resource sector - particularly energy. I have never liked the sector because of it's volatility. Keep in mind that the sector is down 90% since it's high in May 2008. It is a 12 year declining trend that shows zero sign of letting up. There is more than just a panic or even...
Ending the week above the 200 day moving average could signal the all clear for Canadian energy stocks to finally begin rallying in earnest.
XEG buy when correction to the 0.382 fib level is over
XEG is represents the capped energy index of TSX and SPX companies, so its not exactly a true representation for SPY/DIA looking the way it does. But, you get the general Idea.- investors are flocking to other sectors and dividend paying stocks. Im bullish energy sector as i think is undervalued and forgotten for most of 2013, but i think ive missed much of...