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 > $5.37 to $6 range has been support/accumulation 6 times

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Post by Snowballer on Nov 21, 2022 10:21am

$5.37 to $6 range has been support/accumulation 6 times

Since June 2022. Surprised to see it possbily go there abain. But it is what it is. If it breaks through the 200DMA and doesn't hold or bounce back from $5.37 low in September... I can't imagine where this will go. $4? $3?

What would be the big driver in oil demand? For now, China is out. OPEC adding supply and global recession of supposedly 'epic proportion' on the way. I don't see a bull story other than low inventories and technically 'tight supply'. Will need another war as the current one isn't enough apparently. Or will need a sudden turn-around on the interest rates. So guess we'll see.

The good news is bear markets make for bull markets.

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