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.

TSX:SU - Post by User

Suncor Energy Inc > What's going on with the Suncor share price

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Comment by MigraineCallon Jul 13, 2023 11:29am

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Post# 35539381

RE:What's going on with the Suncor share price

Not as I see it.

SU and Canadian oils follow XLE, the US producer index ETF.

All are lagging, today it was Suncor's turn to lag more. A couple days ago it was CVE turn.

Notice that the XLE 1 Day chart is at resistance, hitting the top Bollinger band, and is getting sold off, preventing a breakout.

Now SU still has a bit more room to rise before it hits its own top Bollinger band level. Noticing the large discrepancy, I took a 20,000 share SU buy as it fell near the open on today's weakness, and sold a few minutes later on the 29 minute mark after it recovered, just as a trade, +11$K profit.

This undervalued situation still persists, and can be exploited long term or even as a daytrade. All our heavy oil producers have a long way to run yet, and I am biased to the upside for trading and for long term core positions.

For charting, I follow SU action on the US side, as most algos do.

XLE:

User image

SU:

Obscure1 wrote: WTI is approaching $77 but SU is stuck at $39.

The relationship that has existed between WTI and SU for as long as I have been watching (a couple of years) seems to be broken.

It's right in front of our faces. Everybody sees it. Does anyone have an explanation other than nobody wants to touch SU?

As a long term investment I wouldn't touch SU with a ten foot pole unless the company executes a shift in its business model, but come on, there has to be more to the story as this looks like a short term opportunity.