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Whitecap Resources Inc T.WCP

Alternate Symbol(s):  SPGYF

Whitecap Resources Inc. is a Canadian clean energy company. The Company is engaged in the business of acquiring, developing, and holding interests in petroleum and natural gas properties and assets. Its core areas include the West Division and East Division. Its West Division is comprised of three regions: Smoky, Kaybob and Peace River Arch (PRA). The properties in its Smoky region include Kakwa and Resthaven, all located in Northwest Alberta. The primary reservoir being developed is the Montney resource play, mainly comprised of condensate-rich natural gas. Kaybob is located in the Fox Creek region of Northwest Alberta. The primary reservoir being developed is the Duvernay resource play, mainly comprised of condensate-rich natural gas. The PRA is its original asset area. Its East Division is comprised of four regions: Central AB, West Sask, East Sask and Weyburn. Its Central Alberta region represents the bulk of its Cardium and liquids-rich Mannville assets.


TSX:WCP - Post by User

Post by KnaveofDiamondson May 04, 2024 1:07pm
281 Views
Post# 36023323

3 Drives to a High Reversal Pattern

3 Drives to a High Reversal PatternSo last week we saw a reversal of WCP in a three drives to a high pattern or ABC in elliot wave theory.  rejection of the .768 ~10.70 and cascading through the .618 ~10.17 leave the .5 fib retracement as next major support level at ~$9.73.  These fib retracements are also confirmed in the anchored volume profile as heavily traded zones. If we fall through the .5 fib next zone looks to be the .382 at 9.34. Unfilled gap left last week at 10.44 as well to enter in your charting. Geopolitical tensions between hamas and Israel could put downward pressure on the WTI market if a ceasfire is called or hostages returned to Israel and an end to middle east uncertainty.  GLTA, I'm looking for buy opportunities over the next couple weeks.
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