Suncor Energy Inc T.SU

Any technical traders following Suncor?

[Obscure1]

I don't think anyone can dispute that the fundamentals support higher prices for Suncor shares. 

Apparently, in the short term, 95% of price moves have nothing to do with fundamentals.  

I expect that when the street sees the Q4 numbers on Feb 2, we will see an example of "seeing is believing" that will hopefully result in higher prices.  

In the meantime, I think Feb 15th (actually Monday the 17th as the 15th is a Saturday) is the next date of interest. 

On that date, we will find out what has happened in regards to declared "shorts" since the end of the year.  Hopefully, the Pros have stayed on the sidelines as there is easier low lying fruit. 

We will also get updated on 13F institutional holding reports as of Dec 31, 2021.  I would expect to see a continuation of a drop in institutional holdings as ESG sellers like the Caisse unload shares to SU's NCIB?  Will other institutions be unloading?  Will we see other institutions finally start buying?  The 13F reports can be a good indicator of sentiment.

I'm not a technical trader but I do take uneducated looks at the charts.  When I look at the 5 year chart for SU prior to the pandemic, SU traded in a range from $38 to $45 for several years.   Now that the SU share price is flirting with the one year high, it seems to me that there is very little stopping the price from moving back to the bottom of the previous tradting range at $38.

Does anyone here have any techinicals expertise or even educated comments?

[Obscure1]

Oops, my bad I said the next date of interest is Feb 15th.  That should have been Jan 15th (actually the 17th as the 15th is a Saturday) for the short interest report. Then we get the Q4 numbers (and 2021 yearend) on Feb 2 as well as the change in short interest for the las half of January. Then we get the final F13 institutional holding reports on Feb 15th. I really should read what I

[integrity11]

Thank you Obscure that is good info. 

[NPCexe]

We've been saying the next earnings will change SU's trajectory for the last 4 earnings. It's not gonna happen IMO. Just wishful thinking. It's gonna be a sloooow and steady grind upwards

[bigbear4511]

Nothing wrong with a slow and steady grind upwards.  They get to buy back shares on the cheap as well as i get drip shares cheap as well.

[MigraineCall]

Hi Obscure. Although I am a fundamentals guy, I also keep an eye on technicals, and will share what little I know. As most here are investors, not daytraders, longer TA timeframes are more of interest here. First off, one must look at both the US and Canadian charts to explain what is happening right at this moment. You would think you would consider to apply almost equal weighting to

[integrity11]

Excellent post Migraine. I am small shareholder but certainly appreciate you sharing your analysis and views.

[Experienced]

A long time ago I read a book by these university professors who examined about 200 technical indicators and did a statistical analysis over a 50 year year period to determine if any of them had an real predictive value. Their conclusion? All but two of them had no predictive value accuracy of any significance.  In simple terms - they don't work most of the time. My own observations

[MigraineCall]

Sound advice Experienced. As you say, a well diversified portfolio across many sectors is widely known as the key to long term investing, securing consistent and modest returns over time. Sectors have their ups and downs, and if one may drop, it's overall impact on the overall portfolio is minimized. For the many reasons and concerns you have described so well in detail, a market

[Experienced]

I agree that the energy sector is undervalued right now and that is why I am still following it closely and so I have a stake in pipelines and electrical energy producers and a couple of early stage companies in the area of green energy.  Where we might disagree is that I do believe that the energy sector will be strongly impacted by a global downturn in economic activity.  That said, I

[alvarez2]

I believe it was either Warren Buffet or his partner Charle Munger that said relying on technical analysis was similar to to trying to predict future weather in a weather forecast based on what the weather was like the day/week/month before.

[NPCexe]

Especially in a volatile market environment. You need a few constants to make an accurate prediction. But the problem is the energy markets rely on too many external variables for technical indicators to tell you anything about the future

[Experienced]

There is an old adage for people who have been involved in the stock for a long time -  "If somebody figures out the market they will change the locks!" I have found over the years that just when you think you have it figured out you realize that everything has changed and you need to start over. The world of investing has changed a lot since I started a long time ago.  Back

[alvarez2]

Looking at the list of tickers at the back of the newspaper and calling up the broker to place an order on a stock at a 2-3% commission..........things have changed for sure.