Strathcona Resources Ltd V.SCR

Primary Symbol: T.SCR Alternate Symbol(s): STHRF

Energy Oil & Gas E&P

Strathcona Resources Ltd. is a Canada-based oil and gas producers with operations focused on thermal oil, enhanced oil recovery and liquids-rich natural gas. The Company has three operations, including Lloydminster Heavy Oil, Cold Lake Thermal Oil and Montney. The Lloydminster Heavy Oil segment has multiple large oil-in-place reservoirs with existing and expanding enhanced oil recovery (EOR) opportunities primarily located in southwest Saskatchewan. Its Saskatchewan thermal properties rely on the same steam-assisted gravity drainage (SAGD) processes as its Cold Lake Thermal properties. It is a producer in the Cold Lake region of Alberta. Its operations include thermal oil producing assets at Lindbergh, Orion and Tucker, with production from SAGD oil assets. Its Montney development is positioned in some of the active regions in the Montney basin, the condensate-rich Kakwa, Grande Prairie, and Groundbirch regions, and produces liquids-rich gas.

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Strathcona Resources Ltd > WHERE DO WE GO FROM HERE?!?!?!

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Comment by MichaelRyan2on Oct 02, 2019 4:45pm

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Post# 30189274

RE:WHERE DO WE GO FROM HERE?!?!?!

FOLLOW UP TO PREVIOUS POST .... going to focus on Technical Analysis Update as few posters have inboxed asking if I would do so- those who dont believe in TA.... ignore this post.

MichaelRyan2}

WHAT AM I LOOKING FORWARD GOING FORWARD?

PRICE WISE:

Finally see the stock CLOSE at a price higher than the opening bid!

Back to Back GREEN Up Days to prove not just a one day blimp

CLOSE above $0.72 (high of the past 8 days we have traded down)

CLOSE at or near high of the day on big trading volume day where stock rises greater than 7-8% which at todays price be a move of $0.05+

TECHNICALLY:

Slow Stochastic which is lowest I have seen on this stock in 6 months (%k = 7.71) to cross up with %K climbing out of the over sold region (>20) and preferably above 40 to get back to a neutral zone

MACD to cross back up with MACD VALUE > 0

Volume to Pick up and us back to trading a minimum of 500K shares/day

[/quote wrote:

Price Wise we ACHIEVED #1 and #4 above:

Stock closed in the GREEN for first time in 10 days (2 weeks)

Stock closed up 10 cents = 18.52%

Closed Gap between $0.60 - $0.64

High of Day was $0.70 (up 29% on date) which Ironically was the Close from 10 days ago

Technically we have ACHIEVED #1 and #3 above:

Slow Stochastic Crossed Up (initial indicator that a bottom is in place) POSITIVE

%K on SS = 24.7 out of oversold range POSITIVE (like to see it back above 40)

MACD: still in negative and still wide divergence from Trigger NEGATIVE

Histogram still > 0 = NEGATIVE

Volume: back over 500K/day last 3 days

After closing down 10 days in a row, it is important now to get a POSITIVE FOLLOW THROUGH tomorrow to prove to shareholders that a bottom is in.

Here is what I am looking for now tomorrow and for end of week:

Opening price equal/greater than $0.64 close we got

Re-test of $0.70 high reached today (may not see it til Friday)

%K on Slow Stochastic above 60

MACD to cross back up (wont happen for at least a 2-3 trading days)

Volume to continue trading at 500K+/day

Yesterday James Bigg returned my email confirming that there is NO MATERIAL CHANGE in business, and he believed just quarter end selling, and iterated how YTD this stock is still up substantially so many weak hands could have easily just been taking some profits in fear it would continue crashing. I believe an individual or brokerage was forced to sell (maybe cover a margin call) and sold Score which more than likely they were up substantially in givent he run last few months.

Congrats to all LONGS who stayed LONG....

Kudos and Round of Applause to the peeps with the kuhunas to buy @ $0.51-$0.55

I bought another 10K at $0.575 average the day before and was crapping my pants I must admit at $0.51 as the next support below $0.50 is $0.38 - $0.40 which in contrast to others on here, and there "OH KEEP DROPPING I WILL KEEP BUYING" attitude....

Think I speak for a few people here when I say, I dont think we need to ever see $0.51 again!

Its great to be able to dollar cost average when you are up big on an investment and can average at a higher low in stock price, but anyone who enjoys seeing their investment drop 18 out of 20 trading days , dropping 10% day plus multiple days in a row has got to be a masochist !