Technical Analysis: Suncor (SU:TSX)

Breakout for Suncor with two bullish white candlesticks
Suncor (SU:TSX) technical analysis based on the daily candlestick chart with a breakout at $35.00.  Two bullish white candlesticks are identified on above average volume.  RSI and OBV are confirming the intermediate uptrend.

Suncor Six Month Candlestick Chart

A key point in the above analysis is the reversal of roles from resistance to support. $35.00 was the identified resistance level on the last chart analysis. It is now support.

Reference the last chart analysis for Suncor which was also based on the daily chart.

Reference the website for Suncor to review the fundamental data for the company.

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Note: This technical analysis is for educational purposes so you can learn to trade online using candlestick charts. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The chart snippets are from which I recommend and have used for fifteen years. The author of this article may hold long or short positions in the featured stock or index.

© 2011

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