BAYTEX ENERGY CORP (BTE) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:BTE - CA07317Q1054 - Common Stock
Overall BTE gets a technical rating of 9 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, BTE is showing a nice and steady performance.
BTE has an excellent technical rating, but the quality of the setup is only medium 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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2.16
When analyzing the support we can see 5 important areas.
- A support zone ranging from 3.15 to 3.21. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @2.44 from a trend line in the weekly time frame.
- Support @2.38 from a trend line in the daily time frame.
- Support @2.27 from a horizontal line in the daily time frame.
- Support @2.18 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 3.23 to 3.25. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | UP | POSITIVE | The long term trend for BTE is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for BTE is up. |
| ChartMill Relative Strength | 88.66 | POSITIVE | BTE has a high relative strength, it outperformed 88.66% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of BTE is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of BTE is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of BTE is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 70.57 | OVERBOUGHT | The high RSI value suggests BTE may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests BTE has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 85.72 | OVERBOUGHT | The high Stochastics value suggests BTE may be overbought. |
| Average True Range in percent/ATR (20) | 4.79 | MEDIUM VOLATILITY | The ATR as a percentage value for BTE suggests some volalility. |
| Average Directional Index/ADX (14) | 37.3 | POSITIVE | The high ADX value value for BTE suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 3.26 | 3.14 | 0.12 (3.68%) | 25.00% |
| An entry @3.26. This is a Buy Stop order right above the resistance zone. | An exit @3.14. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.12 points, which is 3.68%. | For a 0.92% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of BTE. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
3.22
+0.06 (+1.9%)
BAYTEX ENERGY CORP / BTE FAQ
What is the technical rating for BTE stock?
ChartMill assigns a technical rating of 9 / 10 to BTE.
What is the trend direction for BTE stock?
The current trend direction for BAYTEX ENERGY CORP (BTE) is Bullish.
Can you provide the RSI signal for BAYTEX ENERGY CORP?
BAYTEX ENERGY CORP (BTE) has an RSI value of 70.5706. This indicates that the stock is currently overbought.
What is the MACD signal for BTE stock?
The MACD indicator for BAYTEX ENERGY CORP (BTE) has a value of 0.0180861, indicating a bearish trend.
What are the support and resistance levels for BAYTEX ENERGY CORP (BTE) stock?
BAYTEX ENERGY CORP (BTE) has a support level at 3.21 and a resistance level at 3.23. Check the full technical report for our detailed analysis of BTE support and resistance levels.