Suncor Energy Inc T.SU

Alternate Symbol(s): SU

Energy Oil & Gas Integrated

Suncor Energy Inc. is a Canada-based integrated energy company. The Company's segments include Oil Sands, Exploration and Production (E&P), and Refining and Marketing. Its operations include oil sands development, production and upgrading; offshore oil production; petroleum refining in Canada and the United States; and the Company’s Petro-Canada retail and wholesale distribution networks (including Canada’s Electric Highway, a coast-to-coast network of fast-charging electric vehicle (EV) stations). The Company is developing petroleum resources while advancing the transition to a lower-emissions future through investments in lower-emissions intensity power, renewable feedstock fuels and projects targeting emissions intensity. The Company also conducts energy trading activities focused primarily on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. It also wholly owns the Fort Hills Project, which is located in Alberta's Athabasca region.

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Suncor Energy Inc > Any technical traders following Suncor?

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Comment by bigbear4511on Jan 06, 2022 2:14pm

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RE:RE:Any technical traders following Suncor?

Nothing wrong with a slow and steady grind upwards. They get to buy back shares on the cheap as well as i get drip shares cheap as well.

NPCexe wrote: We've been saying the next earnings will change SU's trajectory for the last 4 earnings. It's not gonna happen IMO. Just wishful thinking. It's gonna be a sloooow and steady grind upwards

Obscure1 wrote: I don't think anyone can dispute that the fundamentals support higher prices for Suncor shares.

Apparently, in the short term, 95% of price moves have nothing to do with fundamentals.

I expect that when the street sees the Q4 numbers on Feb 2, we will see an example of "seeing is believing" that will hopefully result in higher prices.

In the meantime, I think Feb 15th (actually Monday the 17th as the 15th is a Saturday) is the next date of interest.

On that date, we will find out what has happened in regards to declared "shorts" since the end of the year. Hopefully, the Pros have stayed on the sidelines as there is easier low lying fruit.

We will also get updated on 13F institutional holding reports as of Dec 31, 2021. I would expect to see a continuation of a drop in institutional holdings as ESG sellers like the Caisse unload shares to SU's NCIB? Will other institutions be unloading? Will we see other institutions finally start buying? The 13F reports can be a good indicator of sentiment.

I'm not a technical trader but I do take uneducated looks at the charts. When I look at the 5 year chart for SU prior to the pandemic, SU traded in a range from $38 to $45 for several years. Now that the SU share price is flirting with the one year high, it seems to me that there is very little stopping the price from moving back to the bottom of the previous tradting range at $38.

Does anyone here have any techinicals expertise or even educated comments?