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 and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 3.32. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 3.21, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for BTE in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
2.16
We found 5 important support 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 the daily time frame.
- A support zone ranging from 2.98 to 3.02. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @2.63 from a trend line in the weekly time frame.
- Support @2.55 from a trend 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 3.32 to 3.34. 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 | 87.22 | POSITIVE | BTE has a high relative strength, it outperformed 87.22% 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) | 60.23 | NEUTRAL | The RSI value for BTE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests BTE has a positive trend. |
| Stochastics (14,3) | 68.57 | NEUTRAL | The Stochastics value for BTE is a neutral value. |
| Average True Range in percent/ATR (20) | 3.9 | MEDIUM VOLATILITY | The ATR as a percentage value for BTE suggests some volalility. |
| Average Directional Index/ADX (14) | 22.16 | NEUTRAL | The ADX value for BTE suggests a possible start of a new 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 |
|---|---|---|---|
| 3.35 | 3.14 | 0.21 (6.27%) | 15.95% |
| An entry @3.35. 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 worst case loss on the trade is limited to 0.21 points, which is 6.27%. | For a 1.00% total portfolio risk, you can invest 15.95% of your capital in this trade. |
- 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.
3.31
-0.02 (-0.6%)
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 current trend direction of BAYTEX ENERGY CORP (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 60.2272. This indicates that the stock is currently neutral.
What is the short term momentum for BTE stock?
The short term momentum for BAYTEX ENERGY CORP (BTE) is positive.
Can you provide the support and resistance levels for BAYTEX ENERGY CORP?
BAYTEX ENERGY CORP (BTE) has a support level at 3.21 and a resistance level at 3.32. Check the full technical report for our detailed analysis of BTE support and resistance levels.