BTE: Buy PotentialDiving towards a strong key area with positive analyst expectations I would consider Baytex Energy as a possible buy. Areas plotted to look out for, combined with daily and weekly moving averages to be used as S/R confluences.
B5X trade ideas
Baytex Energy Corp.'s Intrinsic Value Is Potentially 93% Baytex Energy Corp.'s Intrinsic Value Is Potentially 93% Above Share Price.
Key Insights
Using the 2 Stage Free Cash Flow to Equity, Baytex Energy fair value estimate is CA$11.54
Baytex Energy's CA$5.97 share price signals that it might be 48% undervalued
Analyst price target for BTE is CA$7.58 which is 34% below our fair value estimate
Opportunity
Annual revenue is forecast to grow faster than the Canadian market.
Good value based on P/E ratio and estimated fair value.
Significant insider buying over the past 3 months.
Threat
Annual earnings are forecast to decline for the next 3 years.
BTE // Double bottom formation. Resistance break is a must.Although there is a double bottom formation on the chart, we need closes above 6.17. Pay attention to the wedge resistance on the weekly time frame.
BTE // Inverted shoulder head shoulder formationAlthough there is an inverted shoulder head shoulder formation on the chart, the targets are determined according to Fibonacci.
bte rejected off the extentionlooking for a higher low on the rsi and hold above 50% otherwise we have a gp to gp move.
That previous resistance did not hold as support so I expect it to get tested for resistance again.
if rsi head to 30% we could be setting up a patterner here may be head and shoulders. I hope not.
for now, watching 50% rsi 30%
Divergence was the sell signal.
BTE long entry. Entered yesterday and stopped at open today. Still looks good so were back at it. Target a long off. usual stop loss mgmt. Weekly and dai;y stops
BTE.CA: Ascending Triangle (170%) Cup'n handle (89%)Again, special request by a follower to do BTE.
BTE stock trades on Canadian and US markets. So this chart applies to both.
Left hand side graph shows a confirmed Ascending Triangle on the Weekly with a possible total gain of 170% and a price target of 6.65$$.
Right top graph shows the same weekly chart but this time with a confirmed cup'n handle with possible gains of 89% for a price target of 4.69$ .
Finally, the Energy sector is shown on the bottom right graph (weekly chart). Again, an ascending triangle (not confirmed) with possible gains of 77%. This reinforces the possible gains for BTE. Energy sector has to break the 460$ resistance level to confirm.
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BTE.CA: Cup'n Handle (89%)Energy and ressources on the move. Could continue.
Cup'n Handle, confirmed!
Price Target = 4.66$
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BTE longEntering here on the retest of the 236. Looking to ride daily candles up to 382. Daily MA's are with us and a cross of the hourly CCI this morning prompted an entry. Stop will be split 50:50 once in profit to run under Daily and weekly HK candles.
BTE longIf we can hold above the 236 and break of this trend line we could have a nice run up the fib levels. Watching for a pull back to the 236 here.
BTE.CA: Head'n Shoulder, Watching Possible Head'n Shoulder forming
Must break A-B support for confirmation.
No down trend in sight for now. Watching.
BTE crossing under 50 SMA, MACD and RSI pessimisticHello Traders!
The price of BTE looks like it's about to cross under the 50 SMA (sell signal). Combined with a pessimistic looking MACD and RSI, and a bearish MACD-divergence, we have reason to believe that the price is going to drop to the 0.35 support/resistance. In case the price crosses under the 100 SMA as well, it might even drop to 0.1993, but the SMAs didn't act as significant supports or resistances in the recent past, so the momentum gain from crossing the 100 SMA will probably be small.
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Risky trade .Bags are loaded,fingers crossed I hope I am right in my analysis .Please share your opinions .Thanks for your time .
So far so good. Important move on Thursday So far so good . Let's see if price will hold above $0.50 and cross $0.55 level .Indicators are positive .
To early to tell ,but we might see a price explosion If BTE break $0.50 level (on Monday?) we might see it moving up towards $0.70 and beyond .As far as I can tell the indicators are pointing towards possible move up.Thanks for your time.
