The Hourly View for SU
At the moment, SU (Get Ratings)’s price is down $-0.22 (-1.08%) from the hour prior. SU has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
SU’s Technical Outlook on the Daily Chart
At the moment, SU’s price is down $-0.73 (-3.48%) from the day prior. SU has seen its price go down 8 out of the past 10 days, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe. Most noteworthy in the world of moving averages on the daily chart is that the 50 day moving average has been crossed, so that price is now turning below it. 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.
For SU News Traders
News traders keeping an eye on SU may find value in this recent story:
A team of geologists may have just discovered what could be the world’s last big oil frontier, and Oilprice.com readers were among the first to find out about it
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