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 > Let that WTI Pull Back.. Bounce on the 200DMA and BUYYYY

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Post by Snowballer on Aug 13, 2023 11:30pm

Let that WTI Pull Back.. Bounce on the 200DMA and BUYYYY

Confirmation of oil rollover getting stronger.

If WTI tests the 200DMA we have a bit of a drop coming to the mid to high 70's. Oil has been in a bear market since August 2022 and finally went bullish in July 2023. BTE has recently jumped over the 200DMA (Bull market).. could trade sideway or give it up entirely. If WTI tests and then bounces on the 200DMA that will be (possibly) an epic buying opportunity if oil stays in a bull market (must stay over the 200DMA).

I'll be pretty pleased to see some O&G sell off assuming we bounce and go much higher.

GL

404

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Comment by Snowballer on Aug 14, 2023 9:48am

See if BTE rides that 200DMA $5.43ish

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Comment by Snowballer on Aug 14, 2023 9:59am

Otherwise looking for support in high $4's if BTE sells off with WTI over next week or two (assuming WTI going as far down as to test the 200DMA)

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Comment by raven16 on Aug 14, 2023 11:00am

This Song For You Snowballer, Push It Down,Real Good.............. https://youtu.be/vCadcBR95oU

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Comment by Snowballer on Aug 17, 2023 2:40pm

This is what facinates me about trading. It did ride that $5.43/$5.44 support for a bit when this was posted. Then it broke and we went lower. Then all my fans here thought it was so funny when we went up today... but we stopped. Where? $5.43/$5.44 area which became resistance. How is WTI doing right now? lol Now again, I'm not shy about making directonal calls, cause I like the challange ...more

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Comment by Cobalt on Aug 17, 2023 3:04pm

Still watching Cooper for the macro, testing a trend line that goes back 13 months needs to bounce here also sitting at the bottom of a symmetrical triangle that if it breaks targets $2.96 ouch

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Comment by Snowballer on Aug 15, 2023 9:17am

Looking good!

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Comment by Snowballer on Aug 15, 2023 9:34am

$4.78 is my worst case/support target by the time WTI reverses

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Comment by Snowballer on Aug 15, 2023 9:38am

BTE gave up the 200DMA So everything hinges on WTI staying above its 200DAM imo. Let oil sell off and bounce and if it bounces I plan to absolutely load the boat.

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Comment by CountryBoy69 on Aug 17, 2023 3:56pm

322 reads for one post , exactly who are you Showing ,Baller. Another poster who l both admire and trust on this board said he doubts SH has more than l believe 300 members , l personally disagree , but if he is right and l am wrong , every poster read the Snowflakes post.What a fan club who never gave him a single like for it. Very telling , l would say.

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