Four Stocks That May Have Bottomed: Canadian Natural Resources Ltd. (CNQ), Petyo Exploration & Development LTD. (PEY), Advantage Oil & Gas Ltd. (AAV.TO), PrairieSky Royalty Ltd. (PSK)

The major decline in oil prices over the past five months has placed many securities into a freefall. The commodity-rich SPX/TSX, for example, has fallen 10.00% since September, putting into a bear market (Chart 1).

 

 

Chart 1

  The TSX Energy sector has declined even further, cratering almost 40% bringing on the expectation that a sharp rebound from this group is imminent (Chart 2).  However, the majority of energy stocks on the TSX are not displaying the typical ‘rebound’ characteristics. They are still in a pattern of lower highs and lower lows (downtrend trend).  Nevertheless, there are a few stocks that are leading the sector and appear to stabilize or recover. (more)

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