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Suncor

TSX Energy XEG 12.66 2022 Low and more ?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 timeframe top left we can see the 50 weekly ma acting as support for most of 2022 now we appear to be losing it. The Daily timeframe top right we can see the 20 day ma the black line has finally crossed below the 200 day ma you have to go back to January 2020 the last time this took place and before that fall 2018. Seems obvious it's only a matter of time before all moving averages are below the 200 on the daily. I am a long term energy bull due to the supply constraints we are facing and lack of investment but for the beginning of 2023 first quarter at least with calls for a recession growing I don't see the upside for Oil or energy stocks, yes I know they pay great dividends but I don' t think this will save them from a market downturn. I am patiently waiting on my cash to re enter this sector ideally in the spring
TSX:XEGShort
by AthenaCapital
WTI Crude Oil - Running and GunningAll of the fundamentals in the world tell everyone that because of mankind's insatiable requirement for oil to fuel its transportation network and electricity generation, supply and demand should result in a new all time high. This is correct. However, before this happens, the condition to be cleared first is that many unpleasant things will happen in the market and in the world. Oil is about to take bulls and bears both for a ride with a run to $108~. The bears will say it shouldn't be happening, while the bulls will say that of course, oil is heading to $180, $350! and nobody can stop it. After it takes a few heads it will begin to seek for new lows. $86 is the first stop. When I initially began to foresee this move in the last two months, I had assumed that this would come faster. However, with lows at $90, $93, and $92 in recent weeks, and the huge amount of volume being sold between $100 and $125, $86 is bound to be merely the first stop. $80 will come next. It may come after some more chop and bucking, and it may just be bearish and run straight towards $74. Be forewarned, before you mortgage grandma's couch to take a leveraged long on the nearest discount brokerage, numbers like $60 are probably enroute before we see any kind of bull activity. But after everyone has capitulated, watch out. Oil is going to be expensive. Gasoline is going to be unaffordable. And the western Communist Party that runs our governments is going to install lockdown fuel rationing (Don't believe? Google: Sri Lanka QR Code Fuel Rationing, Ireland Oil Shortage Wargame). Frankly speaking, I see Natural Gas hurting everyone's feelings under $5 before it turns around and runs to $18 near the end of the year. Never forget how cheap natural gas is is in North America and how expensive it currently is in Europe. Going short at $108 with a stop of $111 and a target of $86 gives you an RR of 7.77. The perfect kind of number for cowboys, who love casinos. What I want to tell you with this trade call is that when oil is dumping and everything seems hopeless, people who are good at detecting opportunities will realize they can find a glimmer of yield by investing in energy companies. However. And this is a big however. You'll have to find energy companies who do not have links to China and the Chinese Communist Party. Those companies will be wiped out as the CCP is embroiled in scandals and targeted by the International Rules Based Order as the western regime makes a powerplay to depose and/or cuckold Xi Jinping in the coming months. What I also want to tell you with this call is that the Party is over in this world, and it isn't coming back. This old paradigm you are used to of mashing the buy button in huge sizes of risk on anything listed on Nasdaq and making all time high after all time high before going and getting wasted at the bar every night and hiring call girls is over. It's over, and it's never coming back. It's time to sober up. Now. This new paradigm is a bear market. Have you traded a bear market before? Have you traded a choppy market before? A seek and destroy market before? These types of markets are nothing like how getting long on the S&P and the Nasdaq have been. You will buy a dip and it will keep dipping and not come back. You will short a bump and it will be green for a day and then you'll get margin called in the morning and have to tell your wife you lost the last of your rice money. For many, it would be better if you withdrew your coins, bought some gold , bought your wife something nice, and started to prepare to practice cultivation and return to tradition. "What goes up, must come down" is a fundamental law of the Universe and part of how matter moves. Failing to respect it is the same as failing to respect an oncoming train.
FX_IDC:USDWTIShort
by LordWrymouth
Tourmaline Oil - Beauty to Beast and Beast to BeautyTourmaline's pullback from it's $80 all time high and its bounce off the previous all time high is simply not deep enough, as evidenced by today's stop run over the June monthly close, which also produced one of those very credible "head and shoulders" patterns, on the back of the maniacs in the Natural Gas market running a monster short squeeze that ruined a lot of Q2s for "hedge funds." WTI and NatGas are going to dump. Stocks are going to dump. It's not going to be a very pleasant period of time. But, natural gas and oil are something that the ruling regime cannot do without, because transportation and electricity rely entire upon them. Oil is going to set a new all time high, and so is natural gas. They will do it at the same time, as the middle class is already experiencing maximum pain. This will give the central banks the handle they need to increasingly tighten, in addition to giving the Marxist-Leninist globalists a pretext to install social credit digital identification for the sake of fuel rationing. Don't believe? Google Sri Lanka fuel rationing QR code & Ireland oil shortage war game. Anyway, for Tourmaline, this Alberta gem is apt to give you a fine buying opportunity as commodities dump and the stock market crashes under $55 and $50. The target is simply $100+. With stops below the July 2021 highs of $35, you get an RR of 4. Oil and natural gas, when they bounce, should be painfully brutal to bears. The situation should go parabolic, but it won't go all that high, and it won't go for all that long. Think about what gold did when it set a new all time high, but faster, and for less time. After the Party is over, the lights turn on and the music stops. Everyone will find a lot of vomit and trash to clean up, and it won't feel so fun and you won't feel so good with all that hangover and tab to pay, so make sure you sell your portfolio at the highs and buy your family something nice. The best thing you can do is capitalize on your investment, put your wealth into something classical like gems, silver, gold, and prepare to return to tradition and prepare to cultivate yourselves.
TSX:TOULong
by LordWrymouth
Suncor - Pain to Pleasure and Pleasure to PainThe truth is that the energy sector has been doing really well. WTI Crude appeared to can't stop won't stop, and then Natural Gas appeared to can't stop won't stop. Now, both NG1 and WTI are going to dump as the Federal Reserve points a nuclear bomb at the so-called "inflation," which in reality are high commodities and high stock prices. Shortly it will appear that the Party is over for commodities and stocks, and this will provide a great deal of pain for people who have bought this pullback from $53, not realizing that the knife has yet to cut sufficiently deep. However, natural gas and oil are something that the world cannot do without, for mankind is paralyzed without electricity, and no matter how much of a leftist you want to be and how much of the ESG Kool Aid you've drank, the cold truth is that without coal and natural gas you won't have electricity for your computers, and without oil, you won't have a shipping and transportation network. A fundamental lack of either electricity or transport would threaten the ruling North American Communist Party's stability, and so they will be maintained, but the prices will drive ordinary people out of the market, and you will see social credit and digital identification-based fuel rationing during this time period, if all goes well for the Communist Party. (It won't.) In the process, WTI will set a new high, probably painfully higher than people expect, and in a faster time frame that people expect, but also coming up short of moonboy expectations. I would say that this $350/b as some have predicted is nonsense. I think the number is $180, and then demand destruction will be savagely en route. For Natural Gas, I believe that Henry Hub futures are going to heatseek $18 after a solid clean out, and then the game will quickly wrap itself up. Look on the upside: at least you haven't been paying $40 like Europe and Australia already has for months. All of this means that when everything is scary and prices have been driven deep enough to give you the chance to sell low after buying high, energy stocks will begin a real pump. This pump will serve as a bear trap and will be pretty amusing. Your best bet on Suncor is in the $27 mark with a target above the double top around $62. Frankly, I would say you could see a new all time high over $80, but drawing this on this chart is too hard. Either way with a $27 entry and a $62 target with a stop below $21, you're getting an RR of almost 5. An entry of $34.60 is more "realistic" for many people, so go for that, and just make sure you don't panic sell if terminal velocity continues on. Make sure you sell it _all_ at the peaks and buy your family something nice. Remember: stocks won't buy you rice or gasoline. Cash. Is. King.
TSX:SULong
by LordWrymouth
SU Potential Pullback and Buying OpportunityWhile I think in general SU may retest it's highs in the 40's, I am looking at buying opportunities to load this one up with every dip. Looks like a bit of a pullback is coming (not big) as this continues to make it's way up as the summer months come. It is following its peak and valley pattern on the way up, and RSI indicates it should come down a bit. With oil supplies going to be stressed with the US going to be in full bloom soon, and Canada slowly opening up and probably having more driving this summer (given we won't be flying much as we are still not out of the woods), I think this is a great time to get in. I am still learning Fib retracements, so if anyone has some input on this and can provide much better support and resistance levels would be interested in hearing what your thoughts are and how to do them!
TSX:SULong
by jasonbc
You wanted an energy pick?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 outstanding were 1.629B, a 2.16% decline from 2017. Suncor Energy 2017 shares outstanding were 1.665B, a 3.29% increase from 2016. I expect a multi-days breakout, that means if you wake up one morning and the stock is up 30% i don't sell. It will continue for at least a week. Trade at your own risk!
TSX:SULong
by sevensphere
17
SUNCORE ENERGY finished 30 years grandsuper cyclehello 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 opportunity for investors who want to invest in the long term, you can buy for the cheap price and get a dividend and also benefit if the price goes up, for technical analysis the stock is in the last stages of huge correction and long term investors who wants to buy at these levels should not worry if the price drop deeper, i believe there will be no way in the future to replace oil or gas.. good luck , please leave a like
NYSE:SU
by saamq
2