Athabasca Oil Corp T.ATH

Alternate Symbol(s): ATHOF

Energy Oil & Gas E&P

Athabasca Oil Corporation (AOC) is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. AOC’s segments include Light Oil and Thermal Oil. The Thermal Oil segment includes the Company’s assets, liabilities and operating results for the exploration, development and production of bitumen from sand and carbonate rock formations located in the Athabasca region of Northern Alberta. It also consists of two operating oil sands steam assisted gravity drainage projects and a resource base of exploration areas in the Athabasca region of northeastern Alberta. The Light Oil segment includes its assets, liabilities and operating results for the exploration, development and production of light crude oil and medium crude oil, tight oil and conventional natural gas. Its Light Oil segment consists exclusively of the Duvernay in the Greater Kaybob area with about 155,000 gross acres across Kaybob West, Kaybob North, Kaybob East and Two Creeks.

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Athabasca Oil Corp > Oil technical oversold & Rated Strong Sell...but

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Comment by Moneyloopon Aug 03, 2022 8:11pm

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Post# 34869917

RE:Oil technical oversold & Rated Strong Sell...but

So whats your call on NG for tomorrow Nostradamus ?

smallcaptdr wrote: Oil hit its support at $90.40 and below that is the next support at $88 but the moving average rates $91 a buy and could be the turning point to head higher as Oil is in oversold territory so a reversal is possible. Tomorrow at 8:30am is US Balance of Trade for June also for June at 8:30 are Exports and Imports plus Initial Jobless Claims for July and at 10:30am is NG Stock so before the market opens at 9:30 the bulk of the US Data will be released and we'll know then where Oil is heading and I suspect that Oil will recover for Thursday but Friday there's also US Data all at 8:30am. If Oil is driven higher it could hit $95+ but it could be a pump and dumping of cheaper Oil bought recently and might not last. The only excuse for higher Oil is tightness but with a higher Oil surplus, it'll be interesting for the reason why but 8:30 will give us the direction for the day. On the downside, if it hits into the $80+ then that will mark the point where $90+ Oil could be ending just like the moves out of $100+ Oil. Its hard to believe that Friday Oil was at $102 so I believe higher Oil is in store. JMHO

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