Suncor Energy Inc T.SU

Motley's take

[parcheg]

(TSX:SU) stock fell 18% from its June 2022 high. Is it a stock to buy the dip? Oil is a decelerating industry. It is becoming difficult to drill oil wells due to environmental concerns. The overall investment in oil has decreased and shifted to renewable energy. The Russia-Ukraine war and the Israel–Hamas war have accelerated the efforts towards energy security and alternative sources of energy. 

Suncor’s stock price peaked at over $52 in June 2022 as the oil price reached US$125/barrel from the supply shock. Such a high price is not sustainable as it curbs demand. The oil price is likely to be in the range of US$70-US$100/barrel, limiting the upside of Suncor, which produces oil at $35/barrel. The highest the stock can go is $46-$48, a 6-11% upside from the current price of around $43. However, there is a significant downside risk if the economy plunges into a recession. Hence, avoid investing in Suncor at its cyclical peak

[Marty47]

Omg don't bring these fool idiot here , if you look at these clowns , after the post you just put here , just a day or 2, another from the motley clowns post " best stock to buy suncor " and he just wrote total opposite from his buddy ??? These are just clowns who like attention , sometime they got lucky and all happy to remind people how good they are ....not serious 

[Experienced]

Marty....good points Before I retired about 14 years ago, I was denizen of The Street - an insider so to speak for many years.  What I can say is that there is a great deal of manipulation going on and in many cases the firms presenting advice actually bet against their own clients.  To protect the "innocent" I won't name names.  Many times during my career, I advised

[Marty47]

Well thanks for your advices , I'm mostly young retired I max out my rrsp since I was little , now it's not worth much working to give all my money to the tax man and still have to pay uge tax on my rrsp later , so I'm just chill and and unload my rrsp until later .... no need to be aggressive for me 

[Experienced]

Marty...good for you!! Starting young always makes it so much easier to reach your investment objectives.