The Hourly View for SU
At the time of this writing, SU (Get Ratings)’s price is down $-0.02 (-0.1%) from the hour prior. The hourly chart shows that SU has seen 2 straight down hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
SU’s Technical Outlook on the Daily Chart
Currently, SU’s price is down $-0.26 (-1.28%) from the day prior. It’s been a feast for bears operating on the daily timeframe, as SU has now gone down 8 of the past 10 days. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe. Of note is that the 20 day changed directions on SU; it is now pointing down. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. Suncor Energy Inc’s price action over the past 90 days can be seen via the chart below.
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