Baytex Energy CorpShort
BTE crossing under 50 SMA, MACD and RSI pessimistic
Hello Traders!
The price of BTE looks like it's about to cross under the 50 SMA (sell signal). Combined with a pessimistic looking MACD and RSI, and a bearish MACD-divergence, we have reason to believe that the price is going to drop to the 0.35 support/resistance. In case the price crosses under the 100 SMA as well, it might even drop to 0.1993, but the SMAs didn't act as significant supports or resistances in the recent past, so the momentum gain from crossing the 100 SMA will probably be small.
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
The price of BTE looks like it's about to cross under the 50 SMA (sell signal). Combined with a pessimistic looking MACD and RSI, and a bearish MACD-divergence, we have reason to believe that the price is going to drop to the 0.35 support/resistance. In case the price crosses under the 100 SMA as well, it might even drop to 0.1993, but the SMAs didn't act as significant supports or resistances in the recent past, so the momentum gain from crossing the 100 SMA will probably be small.
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
💥 Free signals and ideas ➡ t.me/vfinvestment
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