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 > Worst case target $4ish

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Post by Snowballer on Dec 09, 2022 12:22pm

Worst case target $4ish

Which would play out what appears to be a massive bear flag since the highs of $9... measure the pole and you get around $4... and considering we are under tge 200DMA could well be.

$5.70's appears to be a support trend line but if that does not hold I think the bear flag plays out. If so I've been buying a little early but we may get that bounce to $6.50 before $4. That would also get many of the longs to probably take their profits who haven't sold yet to try and salvage something.

The market is always trying to kick our buts so that's where I'm at with downside risk assessment.

GL

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