Twin Butte Energy Ltd TBTEF

Energy secter correction

[PUNJABI]

The entire energy sector was red hot. With some stock doubling & bouncing really hard. Some stocks even got ahead. RSI for the sector & some stocks  was very high indicating overbought sector & stocks.  Now the sector is cooling off & most energy stock have stated to cool off / pullback or maybe even correct in some cases. Some stocks have already pulled back enough and are no longer in  overbought area. Most of them are not yet oversold.

If the Nat gas & Crude prices remain strong then these energy stock will consolidate & would be fine as long as they are making good money.


TBE has cooled off & is no longer over bought. According to fast & slow stochastic it is now oversold.  RSI is almost in oversold area. On technical basis it getting in a range of a  trading buy for a trade. One cannot ignore the upcoming Qtr results. The results will set the direction of the stock. If they have production issues then oversold of not some will sell. Fundaments will set the directions & technical’s go out of the window till the investors reposition themselves.

But if the results are good then there is no technical resistance. Overall markets & the sector direction & crude price may have some influence on the share price.