TSX:ERF - Post Discussion
Post by
retiredcf on Jan 13, 2023 6:52am
Stan Wong
Energy Sector Energy stocks are still trading higher when you look at the 200-day MA. Still sees very steady global oil demand, continues to outstrip supply. In 2022, US drew down 37% from reserves, which will need to be replenished. Oil inventories are generally low. Companies are focused on enhancing shareholder value. Industry-wide underinvestment. China's reopening can be a catalyst as well. Over 12-24 months, he still likes the energy sector. 200-day MA still moving along nicely, along with the price still moving higher. Still has potential. With the macro economy looking better, interest rate action, and China reopening, he'd hang on.
Stan Wong
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