SIA Charts Daily Stock Report (siacharts.com)
The SIA Daily Stock Report utilizes a proven strategy of uncovering outperforming and underperforming stocks from our marquee equity reports; the S&P/TSX 60, S&P/TSX Completion and S&P/TSX Small cap We overlay these powerful reports with our extensive knowledge of point and figure and candlestick chart signals, along with other western-style technical indicators to identity stocks as they breakout or breakdown. In doing so we provide our Elite-Pro Subscribers with truly independent coverage of the Canadian stock market with specific buy and sell trigger points.
PENN WEST PETROLEUM (PWT.TO) TSX
Green - Favoured Zone
Yellow - Neutral Zone
Red - Out of Favour Zone
How can SIACharts help you avoid unfavorable positions?
Penn West Petroleum (PWT.TO) fell out of the] Favoured Zone of the SIA S&P.'TSX 60 Report at $20.94 and into the Unfavored Zone at $19.46. Now sitting at $13.46, the energy sector and all indicators remain unfavored.
Resistance is found at $14.40 and $15.90 while support is found below at $12.05 and $11.13.
Since we last looked at Penn West 5 months ago, PWT.TO has continued to drop, now resting on support at $10.51. A move below this level then sees $9.15 as the next potential support. Resistance is now at $11.60 and again at $12.81.
Since falling into the Unfavoured zone in the SIA S&P/TSX 60 Report at $19.46, PWT.TO has dropped over 45%.
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