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The recovery of global oil prices has positively impacted Canada's energy sector, boosting investor confidence and cash flows for major companies like Suncor, Canadian Natural Resources, Cenovus, Imperial Oil, and Tourmaline. Despite existing risks such as market volatility and energy transition, these firms are successfully rewarding shareholders and strengthening their operations.
Suncor Energy 8x8 E-ONE Titan HPR
Suncor Energy
Daily update….
Good Morning followers,
I am glad to provide you with a less than 2 min read of what’s moving markets.
Technical Trade of the week
Last weeks trade was long GBPJPY which closed out over night on a take profit of +29.64% for us and our copiers.
We entered this trade with the expectation of a more Hawkish Bank of England and a Dovish Japanese Central Bank, they acted as expected, resulting in a successful TTOTW.
This week we like DJ30 if it pulls back to 34,100 (previous resistance levels) opening a long position with a Stop Loss at 32,680 and a take profit at close to previous highs of 37,000.
Yesterday
Oil was on the agenda yesterday with WTI rising more than 5%. Will it go back to $130? This of course carries with it a hidden concern of yet more inflation and more interest rate hikes. The market remained dignified only dropping around 1.3 % across the 3 indices.
The UK Chancellor released his Spring Statement with plans to assist the inflation crisis in the short to medium term by increasing the National Insurance threshold and decreasing fuel duty. When I studied economics the way to combat inflation was not to give people more money to spend? I HOPE HE HAS THIS RIGHT!
Today
Asia was slightly down overnight with most Chinese tech holding on to its gains from earlier this. We anticipate more sanctions on Russia and flash PMI figures from around the world. These give us insight to how purchasing managers see trade in the short to near term and as such the market watches these closely and any negativity may cause a pull back coming in to the weekend. Western leaders today meet to discuss the Ukraine war and we can expect the initial jobless claims from the USA. We expect these to impress.
Stock of the day.
Halliburton and Suncor lead the way yesterday with modest gains of 2.64% and 1.60% due to the rise in oil prices. The previous day stocks of the day, Vir biotech and Wells Fargo the laggards erasing those outsize gains achieved.
Darden Restaurants reports today, with high expectations of $2.10 PS. With the new strain of COVID raging through the world all eyes will be on this report to see how others in the industry may be effected.
Thought for the day.
If human beings are released from the disease of wanting to be better than someone else, life will come to ease.
For more information go to Connolly Capital Investments https://connollycapital.co/ or find us on eToro at https://www.etoro.com/people/paulcon33
Suncor Energy Increases Spending, Oil Production Guidance for 2021
Suncor Energy Increases Spending, Oil Production Guidance for 2021
CALGARY—Suncor Energy Inc. is forecasting higher spending and production in 2021 based on benchmark U.S. oil prices staying near their current levels of around US$45 per barrel.
It says it predicts daily oil and gas production between 740,000 and 780,000 barrels of oil equivalent in 2021, an increase of about 10 percent compared with this year driven by higher bitumen output from its oilsands…
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Looking behind the curtain at Global News ...
#Suncor #Energy #Investoren gibt #Dividende Das kanadische Energieunternehmen Suncor Energy zahlt eine Quartalsdividende in Höhe von 0,29 kanadischen Dollar an ihre Investoren aus.
$SU - Suncor Energy - Rectangle breakout
$SU – Suncor Energy – Rectangle breakout
Suncor Energy Inc has broken the resistance at 28.85 of a rectangle pattern, which signals a further rise. The stock has broken up through the resistance at dollar 28.50. In case of negative reactions, there will now be support at dollar 28.50 Positive volume balance. The stock is overall assessed as technically positive for the medium long term.
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