RE:RE:RE:Name ChangeSome good points. My previous point regarding the exodus of the US institutional base is evident if you graph Encana against the TSX Oil and Gas index over the past five years.
https://stockcharts.com/h-sc/ui (put in ECA.TO:XEG.TO to the quote cell, change to weekly, 5 years and include Slow Stochastics ).
The underperformance since late 2018 is striking and we have to go back to 2015 to see similar underperformance. For technical analysis, the weekly 5 year chart shows the Slow Stochastics and RSI at massively oversold levels. If you run Encana against the oil price or US XLE index, pretty much the same. In the very few times ECA has reached a weekly RSI below 30, the following few months have seen significant outperformance . This makes sense , as selling gets exhausted and value buyers step up. Unless Encana is going bankrupt (which it isn’t), underperformance against the oil commodity and other oil equities can’t continue. This particular last few months was unique because of the constant selling of US institutions . Arguably, this is the most oversold against the oil price in the past five years . For those who can short , LONG ENCANA, SHORT CRUDE (or the index ) statistically should be profitable from these levels IMO.
Good luck.