Suncor Buy Before the earnings $SUTSX:SU Revenues are Relatively stable throughout the past quarters :
All Billions of $ 2023
Q1 11.91$
Q2 11.72$
Q3 12.65$
Q4 12.81$
2024
Q1 12.38$
Q2 12.89$
The Operating Expenses are not increasing too much
Q1 11.91$
Q2 11.72$
Q3 12.65$
Q4 12.81$
2024
Q1 12.38$
Q2 12.89$
Not many losses ; Earnings are consistent ; Interest expenses are below zero ;
Debts levels are low ; Account receivables has increased which is not good ; Inventory has increased which is not good. ; Short-Term Debt is relatively low
Operating Cash Flow Is Positive and has grown from Q1 to Q2 ; Capital Expenditure Is Below zero ; Free Cash Flow Is Above 1 bn and it's growth is above 50%; No Short-term or Long term debt has been issue during Q2.
My Take Profit Is not Far from the entry price. This is a Quick Swing Trade.
SU trade ideas
(SU) 30m - Bear AB=CD patternAfter completing a 105 bar Bear Butterfly(purple), price had a deep reaction to T2 as it printed a 65 bar inside Bull Butterfly(teal). A strong reversal has led to the printing of a 107 bar Bear AB=CD(fat orange) and it's corresponding Entry Confirmation Line(fat orange horizontal). I have plotted a relevant upsloping Median Line set and a potential downsloping Mini-Median Line set(thick black). Note the Sliding Parallel(thick dotted black). 'As above, so below' is the principle at work here. I have also plotted several Action/Reaction Lines(dashed purple).
Price touched the AB=CD PRZ, retreated back to the Center Line and then surged to new highs towards the AB=CD's HOP @33.41. Note all the price interactions and the apparent price rejection. Also be aware that RSI has crossed below 70 and a PPO tuned to half the frequency of the last peak to peak cycle is showing Negative Divergence.
This pattern is pleasing to my eye so I went short on Friday when price broke below the low of the apparent top bar. This is a Type1 Entry. I set my stop to 3xATR. Partial profits should be taken @32.54(thick dashed purple - NHR). The remainder should be liquidated at T1 or T2.
DYDD
#SU 2-2 reversal in monthly chart Hello dear Traders,
Here is my idea for #SU
Price closed above yellow line (previous month high)
Targets marked in the chart (green lines)
Invalidation level marked with red line
Good luck!
❤️Please feel free to ask any question in comments. I will try to answer all! Thank you.
Please, support my work with like, thank you!❤️
Suncor - Pain to Pleasure and Pleasure to PainThe truth is that the energy sector has been doing really well. WTI Crude appeared to can't stop won't stop, and then Natural Gas appeared to can't stop won't stop.
Now, both NG1 and WTI are going to dump as the Federal Reserve points a nuclear bomb at the so-called "inflation," which in reality are high commodities and high stock prices.
Shortly it will appear that the Party is over for commodities and stocks, and this will provide a great deal of pain for people who have bought this pullback from $53, not realizing that the knife has yet to cut sufficiently deep.
However, natural gas and oil are something that the world cannot do without, for mankind is paralyzed without electricity, and no matter how much of a leftist you want to be and how much of the ESG Kool Aid you've drank, the cold truth is that without coal and natural gas you won't have electricity for your computers, and without oil, you won't have a shipping and transportation network.
A fundamental lack of either electricity or transport would threaten the ruling North American Communist Party's stability, and so they will be maintained, but the prices will drive ordinary people out of the market, and you will see social credit and digital identification-based fuel rationing during this time period, if all goes well for the Communist Party.
(It won't.)
In the process, WTI will set a new high, probably painfully higher than people expect, and in a faster time frame that people expect, but also coming up short of moonboy expectations. I would say that this $350/b as some have predicted is nonsense. I think the number is $180, and then demand destruction will be savagely en route.
For Natural Gas, I believe that Henry Hub futures are going to heatseek $18 after a solid clean out, and then the game will quickly wrap itself up. Look on the upside: at least you haven't been paying $40 like Europe and Australia already has for months.
All of this means that when everything is scary and prices have been driven deep enough to give you the chance to sell low after buying high, energy stocks will begin a real pump. This pump will serve as a bear trap and will be pretty amusing.
Your best bet on Suncor is in the $27 mark with a target above the double top around $62. Frankly, I would say you could see a new all time high over $80, but drawing this on this chart is too hard.
Either way with a $27 entry and a $62 target with a stop below $21, you're getting an RR of almost 5. An entry of $34.60 is more "realistic" for many people, so go for that, and just make sure you don't panic sell if terminal velocity continues on.
Make sure you sell it _all_ at the peaks and buy your family something nice. Remember: stocks won't buy you rice or gasoline. Cash. Is. King.
Suncor Energy Canada Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
Focus: Worldwide
By Sun Storm Investment Research & NexGen Wealth Management Service
A Profit & Solutions Strategy & Research
Trading | Investment | Stocks | ETF | Mutual Funds | Crypto | Bonds | Options | Dividend | Futures |
USA | Canada | UK | Germany | France | Italy | Rest of Europe | Mexico | India
Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision.
#debadipb #profitsolutions
$SU ~ Correction in progress...As shown, majority of energy stocks are starting to correct. Looking into the future, we believe these companies will provide amazing opportunities. We expect barrels of oil to reach $300-400 a barrel by the end of the decade. Recommend tracking this sector very closely for amazing opportunities.
SunCor Energy CanadaSun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
Focus: Worldwide
By Sun Storm Investment Research & NexGen Wealth Management Service
A Profit & Solutions Strategy & Research
Trading | Investment | Stocks | ETF | Mutual Funds | Crypto | Bonds | Options | Dividend | Futures |
USA | Canada | UK | Germany | France | Italy | Rest of Europe | Mexico | India
Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision.
#debadipb #profitsolutions