GrandbanksIs right, it is better to look at weekly or monthly percent change. What is needed is a perception change. Short of a change in government, a sentiment change is needed for the entire Oil and Gas space in Canada. A recovery here will be slow, if it comes back at all.
I don't think this companies share price is out of the woods by any stretch. When it hit $3.80 it was 80 cents away from a loss of margin with most Canadian banks. A solid break below $3 handle is more forced margin selling. It didn't think it would break the margin level at $5 and then zoom $3.80 was the next floor down.
A sentiment change happens slowly , you don't often notice until it is in the rear view mirror. The share price ( the market will tell us when ) Cheers Matthew