Technical Analysis for MEG - MEG Energy Corp.

Grade Last Price % Change Price Change
B 30.740 -0.36% -0.110
MEG closed up 0.72 percent on Wednesday, March 27, 2024, on 83 percent of normal volume. Due to the stock's strong uptrend, it may remain overbought for a while. So, if you're looking for a reason to sell, don't put too much weight on it being overbought.
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Trend Table & Recent EOD Trading Signals

ADX Long Term Intermediate Term Short Term
Strong Up Up Up

Date Alert Name Type % Chg
180 Bullish Setup Bullish Swing Setup -0.36%
Overbought Stochastic Strength -0.36%
Bearish Engulfing Bearish 0.36%
MACD Bearish Signal Line Cross Bearish 0.36%
Slingshot Bullish Bullish Swing Setup 0.36%
Gapped Up Strength 0.36%
Overbought Stochastic Strength 0.36%
New 52 Week Closing High Bullish -0.97%
New 52 Week High Strength -0.97%
Overbought Stochastic Strength -0.97%

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Profile

MEG Energy Corp. Description

MEG Energy Corp (MEG) is a Canada-based oil sands company. It is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. MEG is engaged in developing enhanced oil recovery projects that utilize steam-assisted gravity drainage (SAGD) extraction methods. The Company has the following commercial SAGD projects: the Christina Lake Project and the Surmont Project. The Christina Lake Project is situated on over 80 square miles of oil sands leases in the southern Athabasca oil sands region of Alberta. MEG owns working interest in the oil sands leases associated with the Christina Lake Project. The Surmont Project comprises over 30 square miles of lands in the southern Athabasca oil sands region of Alberta. The Surmont Project is located approximately 50 miles south of Fort McMurray. MEG owns working interest in the oil sands leases associated with the Surmont Project. MEG also holds interest in the Access Pipeline.


Classification

Sector: Energy
Industry: Oil & Gas E&P
Keywords: Energy Oil Petroleum Pipe Pipeline Athabasca Extraction Oil Sands Athabasca Oil Sands Mcmurray Fort Mcmurray Connacher Oil And Gas Enhanced Oil Recovery Oil Recovery Oil Sands Region Steam Assisted Gravity Drainage

Is MEG a Buy, Sell or Hold?

Indicator Bull Case Neutral / Hold Bear Case
50 DMA
200 DMA
ADX Trend
Oversold / Overbought
Relative Strength

Comments

B

BlissfulElephant171 about 1 year ago

Easy swing here to the 23.50+ mark

0 Reply
T

TraderMike about 1 year ago

hmm, maybe.  I don't like the looming 50-day moving average & today's shooting star.  It'll be interesting to see where it goes.

0 Reply

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Indicators

Indicator Value
52 Week High 31.44
52 Week Low 19.41
Average Volume 1,791,492
200-Day Moving Average 25.039
50-Day Moving Average 26.964
20-Day Moving Average 29.796
10-Day Moving Average 30.579
Average True Range 0.700
RSI (14) 71.51
ADX 49.16
+DI 33.964
-DI 11.995
Chandelier Exit (Long, 3 ATRs) 29.341
Chandelier Exit (Short, 3 ATRs) 29.469
Upper Bollinger Bands 31.472
Lower Bollinger Band 28.119
Percent B (%b) 0.81
BandWidth 11.254
MACD Line 1.124
MACD Signal Line 1.173
MACD Histogram -0.0488
Fundamentals Value
Market Cap 9.23 Billion
Num Shares 299 Million
EPS -0.65
Price-to-Earnings (P/E) Ratio -47.61
Price-to-Sales 0.43
Price-to-Book 0.31
PEG Ratio -0.12
Pivot Point Level Traditional / Classic Fibonacci Demark Woodie Camarilla
Resistance 4 (R4) 31.660
Resistance 3 (R3) 31.583 31.237 31.525
Resistance 2 (R2) 31.237 31.030 31.275 31.480
Resistance 1 (R1) 31.043 30.903 31.140 31.120 31.435
Pivot Point 30.697 30.697 30.745 30.735 30.697
Support 1 (S1) 30.503 30.490 30.600 30.580 30.265
Support 2 (S2) 30.157 30.363 30.195 30.220
Support 3 (S3) 29.963 30.157 30.175
Support 4 (S4) 30.040