A confluence of negative technical indicators for Suncor on the daily chart.
Major support for Suncor is at $40.00 on this daily candlestick chart. You must monitor the chart at this stage for a candlestick pattern that indicates the stock can hold this support level. The near-term trend is down: Suncor has moved below the 10 day and 20 day moving averages. Can the stock hold the 40 day moving average?
Please reference the the March 11, 2011 weekly chart of Suncor for another perspective.
The February 6, 2011 chart shows Suncor struggling at the $40 level which is now major support.