Baytex Energy Corp T.BTE

Alternate Symbol(s): BTE

Energy Oil & Gas E&P

Baytex Energy Corp. is a Canada-based energy company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Its crude oil and natural gas operations are organized into three main operating areas: Light Oil USA (Eagle Ford), Light Oil Canada (Pembina Duvernay / Viking) and Heavy Oil Canada (Peace River / Peavine / Lloydminster). Its Eagle Ford assets are located in the core of the liquids-rich Eagle Ford shale in South Texas. The Eagle Ford shale covers approximately 269,000 gross acres of crude oil operations. Its Viking assets are located in the Dodsland area in southwest Saskatchewan and in the Esther area of southeastern Alberta. It also holds 100% working interest land position in the East Duvernay resource play in central Alberta.

TSX:BTE - Post by User

Baytex Energy Corp > WTI now at 80$+

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Comment by GambinoBon Dec 30, 2022 4:28pm

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Post# 35197730

RE:WTI now at 80$+

Oh oh you gonna be attacked by the chart bears

red2000 wrote: See below my little gift for all posters and readers here...

A good friend of me, who is very accurate with trading graph send my the chart below on Christmas...It is made with the Fibonacci theory !!!
It is believed that the Fibonacci ratios, i.e. 61.8%, 38.2%, and 23.6%, finds its application in stock charts.
Fibonacci analysis can be applied when there is a noticeable up-move or down-move in prices.
Whenever the stock moves either upwards or downwards sharply, it usually tends to retrace back before its next move.

My understanding...if you check the chart, its original calculation predicted a little pullback before end of year 2022, see the B point. We did it, late in the day of dec 29 at around 76,79$.

The fun part, today we broke the resistance of 79,65$ and base on is assumption we may see 90$ and may be 96$ or so, very fast already in january !!!

You see this beautiful V for Victory ! :) I wish you all the best for 2023 in any part of your life !!!