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SUNCOR ENERGY INCSUNCOR ENERGY INCSUNCOR ENERGY INC

SUNCOR ENERGY INC

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SU Ready for Recovery? (>67% Potential Profits)Hello fellow traders, Today we are looking at Suncor Energy Inc (SU) on the TSX. As we can see, following the COVID dump in March, the chart has printed a nice double bottom around $14 on the daily time frame. Prices have moved above all EMAs except for the 200 EMA , which is currently being tested for a breakout. We also see some large buying volume coming in recently, another bullish sign. If prices can break above the 200 EMA , we can expect additional growth. Based on the VPVR, can also predict that prices will move fast between the $26-$36 range. So, keep your eye out for a breakout! A potential short-mid-term trade setup now would be: Entry: $21.75-$23.75 Targets: $26.25 (+13%) | $29.50 (+27%) | $39.00 (+67%) Stop loss: $19.50 (-10%) Let me know what you guys think down below and leave a like if you appreciate the analysis. Also, check out some of my other ideas and follow my profile for more chart analyses and profitable trade setups! Thanks for reading :) Price at writing: $23.21
TSX:SULong
by PS_TopDollarInvestments
4
SUNCOR ENERGY Titre DailyHey people, SUNCOR ENERGY is in a bullish momentum with a hammer candle and a return of large buying volume. By looking at the TIMEFRAME M1 we notice a dash with a large volume of purchases made which has gone to test the top of the comfort zone. Great possibility of breaking out the zone afterwards the price to go away on the one above and to land on the last highest (See TIMEFRAME D1). Then the top after in TIMEFRAME H4 and two high on TIMEFRAME H1 before the vision objective of several resistors. Not enough force to test half of the intermediate median of ANDREWS PICHTFORK. Please LIKE & FOLLOW, thank you!
TSX:SUShort
by stephanelibatd
Buy the divergence that may form There ae two important levels here 14.74 and 14.02 the two important levels of support. We don't have a crystal ball to know when the the bottom is in but we need to wait and see how price action interacts with the levels before we buy. Likely a bullish divergence will form as it reaches 14.74 and if you are an investor I'd be ready to DCA to 14.02 . The wedge drawn should also serve as a guideline for us. Imo the negative sentiment towards oil is overblown and we will need oil in the coming years despite the renewable movement , so it would be wise to invest in both.
TSX:SULong
by gNnairdA
Suncor - A Tale of Two TrapsFor 20 years, the market has never had anything but dips to buy. Even the 2008 "Financial Crisis" was just a dip to buy. Even the March illusion of a pandemic was just a dip to buy. However, a pendulum always swings from one side to another. What throws people off and makes trading so difficult is that you can know: Where the market is going What direction the market is going But what you don't know is when the market is going to do it. Only the makers know that, and that's why they're rich and retail is not. But, one thing you should be clear on is that this is the end of the line and the party is over. The world is not in good shape. Trouble is only just beginning, and it won't be a brief flash in the pan this time. The presence of a huge number of people practicing socialism (Communism) all over North America, and the world, has already shown itself to be a huge problem to the future of this world, and is about to show its economic consequences. After all, the biggest players can trade short and make even more money than they do during bull runs, while everyone's portfolio, 401K, and life savings gets wiped out. The ultimate purpose is to cause people to capitulate their holdings at the bottom, actualizing huge losses that cannot be regained. Once you're poor, you're easy to buy off. Once you're poor, people will do anything, including betray their friends, family, and country. In all the other areas of the world where poverty is common, prostitution, arms, and drugs all become booming industries. What else are people going to do when they need to eat? That is, unfortunately, the endgame for the human race. But before all good guillotines drop, you must raise the blade high into the air so it can fall in dramatic fashion. That is what our good friend Suncor is about to do, and likely WTI Crude Oil along the way. So, this is a long trade, but it is a scalp. This isn't for you to pack a bag for your portfolio thinking that you're going to see a new all time high in 12 or 24 months. People are no longer allowed to live like human beings, which means travel has been destroyed, which means the energy industry is in big trouble. After it is complete, take your profit and stay cash heavy. Consider getting out of the market and buy yourself something nice. Spend some time with your family. Maybe take up meditation or spiritual practice. When the rivers of blood begin to show themselves in the streets, wait a few months before you start buying. Every rally will be for suckers and the pullback will be in the 80% range on all asset classes. Perhaps gold and silver will be the only exceptions, in the end.
TSX:SULong
by LordWrymouth
25