Baytex Energy Corp T.BTE

While WTI chart looks weak BTE Chart very bullish

[Snowballer]

Earnings.

[Snowballer]

4h and daily macd strong

[Kelvin]

Snowballer, That's because netbacks are defined as selling price per barrel minus break even cost per barrel. So even if wti drops by 2% but break even costs drop by 3% then netbacks increase. The idea that bte's earnings potential is solely determined by wti price is short sighted. The Q3 statements will show whether bte is reducing their break even costs, royalties included. I bet that

[Snowballer]

I never said what you're saying I said or implied. I understand how NI works, thanks ;) I'm pointing out the technical differences between the stock and the underlying. When the divergence increases too much they tend to reconverge.