GREY:BNPUF - Post by User
Post by
slava77on Oct 28, 2015 7:10pm
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Post# 24236850
Natural gas stocks
Natural gas stocks
Many of them are weak today... look at Peyto or Painted Pony.. those struggled today as well on falling natural gas prices. Today was BNP's ex dividend date which accounted for at least some of the weakness. Also, BNP is at important level as it's testing $2.90 price level for the third time since August on the daily chart. The best outcome is, of course, that today was a "triple bottom" and the stock bounces beginning tomorrow... need some buyers to step in (and need ng prices to go up!). If today's lows don't hold - expect more short-term traders/short-sellers to step in.
BNP is a well managed and well hedged but it's in a subsector which is not favored at the moment.