Suncor Energy stock: buy or sell
Updated on:
Jan 27th, 2021
2
Suncor Energy stock brief
- Suncor Energy stock went down -1.83% to close at $17.20 on the stock market today, after 7 consecutive sessions in negative.
- Price is drawing a scaled uptrend since last October with higher tops and higher bottoms. Up to date, price marked a 62.88% profit since the beginning of this rally
- Suncor Energy Inc. operates as an integrated energy company.
Should I buy Suncor Energy stock?
Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $SU stock a buy?
In the current situation of Suncor Energy there is not any eligible buy setup. This doesn't mean $SU will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems
Should I sell Suncor Energy stock?
Do you know when is it time to sell Suncor Energy?. In the same way as when we have to buy shares, choosing when is appropiate to sell is not a capricious decision, and we must follow our own trading style. We like very simple setups to guide us on when is the best time to sell our shares. Be aware that these setups are not intended for shorting Suncor Energy stock
A guiding principle is that you must never mantain an operation that results in higher than expected losses by the time of the buy. The moment to sell shares should always be determined by the stop-loss (automatic or manual)
Is it time to sell Suncor Energy stock?
Currently, Suncor Energy stock doesn't match any of our preferred sell setups, so if you hold Suncor Energy shares and your operation is in profit probably is not time to sell now
Price lost SMA50 level
Suncor Energy stock gained a 35.83% in a month while it was above the 50-day SMA. Nonetheless that upward trend may have ended, or be showing signs of exhaustion, since the price fell below that moving-average threshold on Tuesday. For mid-term investors who have benefited from the stock while the price was above the average, this flag should be a heads up and a reason to sell the shares and take their gains
Suncor Energy ratings
In the last 30 days, 2 brokerage ratings were published for Suncor Energy
| Brokerage firm | Rating |
|---|---|
| Jan 6th, 2021 | |
| National Bank Financial | |
| Jan 14th, 2021 | |
| Scotiabank | Buy |
Suncor Energy stock analysis
Since last October, Suncor Energy has been printing an uptrend that so far marked an amazing 62.88%. Rising peaks and troughs can be seen easily on a chart and how price offered very few entry points on the breakouts. Latest pullback was in mid-December, when price bounced at $16.29. Like in all uptrends, price needs to rest and now price is consolidating the gains in a range between $19.65 and $16.29
SMAs overview
Supports and resistances
The current resistance levels are:
The current support levels are:
Bollinger bands
Since the price surpassed the upper band on January 14, the price dropped by 12.47%
Relative strength index
The RSI dropped below the overbought level of 70 in mid-December after just crossing to the overbough zone for just one day (weak signal). The RSI value on Tuesday was 44.74. Suncor Energy stock dropped a 7.48% since then
Suncor Energy stock price history
Suncor Energy went public on Mar 17th, 1980 at $0.00 per share1. Since then, SU stock surged by -, with an average of 0.00% per year. If you had invested $1,000USD in Suncor Energy stock on Mar 1980, it would have a value of $inf today.
1: Adjusted price after possible price splits or reverse-splits
Price target for Suncor Energy stock
How much a stock will be priced tomorrow or next week is quite unpredictable. However, many stock price forecasts are posted every day by banks, financial institutions and independent analysts.
Along with buy or sell recommendations, brokerage institutions post their price estimates based on the stock price action and the company fundamental data. Most of these forecasts follow the publication of new fundamental data by the company, and many times. If you are a small trader you shouldn't invest based on these price targets.
There is just one price target available for Suncor Energy that forecasts a price of $30.00.
| Brokerage firm | Price target |
|---|---|
| Jan 6th, 2021 | |
| National Bank Financial | Not available |
| Jan 14th, 2021 | |
| Scotiabank | $27.00 → $30.00 |
Earnings and financials
Suncor Energy ($SU) hosted the earnings call and presented the report last October. Suncor Energy missed Wall St estimates and presented of $-0.20, that is a -42.86% less than the initial estimates of $-0.14. Similarly, reported revenues were $6.5 billion versus estimates of $7.1 billion.
This compares to Earnings of $0.72 per share a year ago, so reported EPS is a loss of -127.78%. Looking at turnover, figures sank a -34.44% compared to $98.0B same quarter last year.Suncor Energy ($SU) is hosting the earnings call on Wednesday next week.
Suncor Energy performance
| Company | 1m | 3m | 6m |
|---|---|---|---|
| Suncor Energy ($SU) | -0.10% | 40.50% | 4.70% |
Please read:
The comments written in this article are personal and not recommendations for you to buy or sell shares. The author of this report does not have an understanding of the particular positions of the reader, his or her finances or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Viewpoints are posted for education purposes onlySuncor Energy summary
| Tuesday, January 26th, 2021 | |
|---|---|
| Open | $17.67 |
| Close | $17.2 |
| Day range | $17.19 - $17.93 |
| Previous close | $17.52 |
| Session gain | -1.83% |
| Average true range | $0.91 |
| 50d mov avg | $17.21 |
| 100d mov avg | $14.91 |
| 200d mov avg | $15.73 |
| Earnings date | February 3rd, 2021 |