SU: Cup'n Handle (28%) Ascending Triangle (77%)Was asked by a follower to do Suncor. Was a great idea so here it is.
BTW, Suncor trades on both Canadian and US markets. So this applies applies for both markets.
Left hand side graph shows a confirmed Cup'n handle on the daily with a possible total gain of 28% and a price target of 30.83$. Not a lot, but still an uptrend.
Right top graph shows the weekly chart, this time with an ascending triangle (not confirmed) with possible gains of 77% for a price target of 45.67$. Still need to break the resistance level at 26$ to confirm the uptrend though.
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 Suncor as the Energy sectors rides in unison with Suncor. Energy sector has to break the 460$ resistance level to confirm.
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Stay humble, have fun, make money!
