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Surge Energy Inc (Alberta) T.SGY

Alternate Symbol(s):  ZPTAF | T.SGY.DB.B

Surge Energy Inc. is a Canada-based oil focused exploration and production (E&P) company. The Company's business consists of the exploration, development and production of oil and gas from properties in Western Canada. It holds focused and operated light and medium gravity crude oil properties in Alberta, Saskatchewan and Manitoba, characterized by large oil in place crude oil reservoirs with low recovery factors. It offers exposure to two of the five conventional oil growth plays in Canada: the Sparky and SE Saskatchewan. It holds a dominant land position and is drilling a mix of horizontal multi-frac and horizontal multi-lateral wells in the Sparky area. Sparky is a large, well established oil producing fairway in Western Canada. SE Saskatchewan is a focused operated asset base with light oil operating netbacks. SE Saskatchewan operates low-cost wells with short payouts and offers potential for continued area consolidation.


TSX:SGY - Post by User

Bullboard Posts
Post by PUNJABIon May 09, 2016 12:56pm
256 Views
Post# 24854445

200 sma failed three times.

200 sma failed three times.First failure  was while back. on Nov 09, 2015 when 200 sma was above $3.00. Recently it has failed twice. In March it failed & the stock dropped below $2.00. Recently it tested 200 sma & failed again. Today the stock hit a low of $2.05.
 
Now the question is will this bottom be under $2.00 or not. Under $2.00 the stock is not marginable.  When the stock is a declining trend the 200 sma keeps dropping &if the stock is trading like SGY which is mostly trading in a range it will eventually get over 200 sma. So far the stock is range bound where 20 sma is crossing over  & under 50 sma.

Fast stochastic is showing the stock as oversold which is not very reliable. But RSI & slow stochastic are not yet showing that. While lot of oil stock are trading in overbought area.

Institutional rotation trade in favour of SGY has not started.  There is some institutional HFT but no accumulation of the stock.

This stock needs a few large buyers to get it out of the present range & start the reversal of trend.



Bullboard Posts