BTE Technical Analysis - BAYTEX ENERGY CORP

Technical Rating and Analysis

Overall BTE gets a technical rating of 6 out of 10. BTE has been a bad performer in the overall market. Some doubts are observed in the medium term time frame, but recent action was again very positive.

When comparing the yearly performance of all stocks, BTE is a bad performer in the overall market: 77% of all stocks are doing better.

BTE is one of the lesser performing stocks in the Oil, Gas & Consumable Fuels industry. 65% of 210 stocks in the same industry do better.

The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.

In the last month BTE has a been trading in the 2.43 - 3.06 range, which is quite wide. It is currently trading near the high of this range.

BTE has an average volume of 5997060 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

BTE is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so BTE is lagging the market.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

BAYTEX ENERGY CORP / BTE Weekly stock chart

BAYTEX ENERGY CORP / BTE Daily stock chart

Setup Rating and Analysis

BTE has an average technical rating and it also does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

2.56

3.57

We found 1 important support area.

A support zone ranging from 2.59 to 2.61. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.

2 important resistance areas can be observed.

A resistance zone ranging from 3.01 to 3.03. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @3.53 from a trend line in the weekly time frame.

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	NEUTRAL	NEUTRAL	The long term trend for BTE.CA is neutral.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for BTE.CA is up.
ChartMill Relative Strength	23.96	NEGATIVE	BTE.CA has a low relative strength, it was outperformed by 76.04% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of BTE.CA is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of BTE.CA is above the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of BTE.CA is below a declining SMA(200).
Relative Strength Index/RSI (14)	66.33	NEUTRAL	The RSI value for BTE.CA is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.04	POSITIVE	The MACD value suggests BTE.CA has a positive trend, although the MACD value is declining.
Stochastics (14,3)	88.69	OVERBOUGHT	The high Stochastics value suggests BTE.CA may be overbought.
Average True Range in percent/ATR (20)	3.88	MEDIUM VOLATILITY	The ATR as a percentage value for BTE.CA suggests some volalility.
Average Directional Index/ADX (14)	24.35	NEUTRAL	The ADX value for BTE.CA suggests a possible start of a new trend.