BAYTEX ENERGY CORP (BTE) Stock Technical Analysis
NYSE:BTE - CA07317Q1054 - Common Stock
2.36 USD
+0.13 (+5.83%)
2.35 USD
-0.01 (-0.42%)
We assign a technical rating of 8 out of 10 to BTE. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, BTE is only an average performer.
Considerably lower volume is observed in the last couple of days, which is not what you would like to see during a strong up movement.
Both the short term and long term trends are positive. This is a very positive sign.
In the last month BTE has a been trading in the 1.93 - 2.38 range, which is quite wide. It is currently trading near the high of this range.
BTE has an average volume of 29388400 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the performance of all stocks over the past year, BTE turns out to be only a medium performer in the overall market: it outperformed 49% of all stocks.
BTE is an average performer in the Oil, Gas & Consumable Fuels industry, it outperforms 53% of 209 stocks in the same industry.
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.
Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
Although BTE has an excellent technical rating, it does not offer a high quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
1.60
2.50
When analyzing the support we can see 3 important areas.
- A support zone ranging from 2.07 to 2.13. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 1.98 to 2.03. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @1.62 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- Resistance @2.48 from a trend line in the weekly time frame.
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 | 49.07 | NEUTRAL | BTE is not amongst the best or worst performers 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) | DOWN | MIXED | The current price of BTE is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 74.41 | OVERBOUGHT | The high RSI value suggests BTE may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.03 | POSITIVE | The MACD value suggests BTE has a positive trend. |
| Stochastics (14,3) | 95.89 | OVERBOUGHT | The high Stochastics value suggests BTE may be overbought. |
| Average True Range in percent/ATR (20) | 3.68 | MEDIUM VOLATILITY | The ATR as a percentage value for BTE suggests some volalility. |
| Average Directional Index/ADX (14) | 23.82 | NEUTRAL | The ADX value for BTE suggests a possible start of a new trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
2.36
+0.13 (+5.83%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorEnergy
GICS IndustryOil, Gas & Consumable Fuels
Performance
% Chg5.83%
1 Week10.28%
2 Weeks16.83%
1 Month12.38%
3 Month32.58%
6 Month16.26%
12 Month-23.13%
2 Year-46.49%
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.08
ATR(20)%3.68%
ATR Inc47.1%
Range Today0.18
ADR(20)0.09
ADR(20)%3.66%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS49.07
Mansfield-0.59
10 Day High2.38
10 Day Low1.93
20 Day High2.38
20 Day Low1.93
52 Week High3.45
52 Week Low1.36
CS1 End2.13
CR1 Start2.48
Volume & EV
DER(3)4.41%
DER(5)3.04%
Volume32.24M
Volume Incr-20.84%
Vol(5)17.61M
Vol(50)29.39M