RE:GuessVery tough call because of current volatility.
Stock price went from $8.50 to $12 in a little more than a month during the last cycle.
And currently, from $12 to $9.50 and through the supporting trendline of the last upward move.
Peyto is still in a long term bullish cycle supported by strong fundamentals of the NatGas industry and by Peyto's more specifically.
This downward trend could see Peyto trading to around $9.00 on the supporting long term trendline before the end of the month or go back up to $12, the high of the long term channel.
This is 30% of current price range, very wide and still overshoot!
With current insertion in the TSX, which would see index funds buying a couple of millions shares according to my rough estimate, I would anticipate the current downward move to be very short lived and end just in time for the Santa Claus rally!
See chart:
Peyto Dec 2021