Bullboard - Stock Discussion Forum 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... see more

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TSX:BTE - Post Discussion

Baytex Energy Corp > Moving Average

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Post by smallcaptdr on Oct 06, 2022 12:50pm

Moving Average

The moving average is always right and right now it hasn't crossed over indicating a new bullish trend has started but it is close and once you see this trend higher then we're in for a bullish run. I posted TSX Moving Average so that you can see how correct the moving average can be in calling the trend and of course, this is just one tool used as a reference When BTE hit $7.15 I knew that it was at the top for now unless Oil keeps rising. Next week the only US Data on Thursday 8:30am is the US Inflation Rate. Tomorrow US Unemployment Rate and Non-Farm Payrolls at 8:30am. Oil at $88 so this Oil bullrun is over and needs to catch its breath. It really seems like $88 Oil is going to be the high for now which has been a healthy move higher after the 4-day rally so we will see Oil pullback tomorrow. BTE has been a star all along! I posted in Sept Oil Technical which was a "Strong Sell" well you can see the change and improvement from last week

Technical Analysis of CFDs on Crude Oil (WTI) (FX:USOIL) — TradingView

BTE Moving Average

TSX Moving Average

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Comment by Moemoney42 on Oct 06, 2022 1:06pm

Quote: "When BTE hit $7.15 I knew that it was at the top for now unless Oil keeps rising." Is that right captain obvious.. LOL..!!! How astute..!!!

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Comment by Snowballer on Oct 06, 2022 2:01pm

good post. I agree and sold my position today. it's not clear that oil has reversed... rally could have been a bear market rally for oil. I could see another pop up briefly on BTE but think we see mid to low $6's before $8 to $10. If I'm wrong I will miss out.

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Comment by riski on Oct 07, 2022 12:12pm

Not again. You guys are really bad at trading. Here is a better idea. Buy and hold. Good money to be made if you can just have some courage. Enjoy paying capital gain tax on your bake sale gains. For myself, I'll keep holding for the big payday.

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Comment by Snowballer on Oct 14, 2022 1:16pm

I've been buying back at these mid to low $6's. Glad I ended up not missing out. For those who are interested in my thoughts on price targets I could see $5.96 area as the low before regaining strength

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