Swing Trade Idea – 2/3/2022

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Top Momentum Energy Stock Nears Swing Uptrend + Bullish CCI Signal

Below is your new swing trading idea handpicked by the Xpirient research team from new and nearing uptrends generated within our own trading system.

 

(Note: This is a model trade, not a real trade.)

 

All of our daily trading ideas are shared strictly for educational purposes. Trade at your own risk.

 

Our trading ideas are not recommendations.
Our trading system is 100% rules-based.

Crescent Point Energy Corp. (CPG)

Trigger Price: $6.82

Max Buy Price: $6.87

Stop Loss: $6.38

Average Volume: 6M

Zacks Rank: #2 (Buy)

TRADE COMMENTS

NOTE: This stock trades for under $10, which means it could carry more risk and volatility than some higher priced stocks.


Crescent Point Energy (CPG) is a Canadian-based oil/gas explorer and producer with a large majority (80%+) of its production in crude oil and the rest in natural gas production. The company’s crude oil and natural gas properties, and related assets are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota and Montana.


Crescent is currently trading a discount to its fair value. (The stock currently sports a 1.8 P/E ratio and a forward P/E ratio of 5.4!)


Technically speaking, the stock is now attempting a new Swing uptrend as a new bullish CCI signal forms on its daily chart.


This stock is moving on strong momentum. As long as oil prices continue to rise, CPG is well-positioned to continue its uptrend.


With solid support just below, CPG could continue its rally if it reaches its trigger price in the coming days.


As such, CPG looks like one for traders to keep on their radar.

ACTION: 

We will add CPG to our Daily Trading Diary if it reaches $6.82 and would add up to $6.87. We would immediately place a $6.38 stop-loss order upon “entering” the trade. 


(Note: This is a model swing trade for educational purposes, not a real trade.)

Note: Entry price and stop-loss price will determine trading results. While we recommend that traders always use a stop-loss order, ours is only a suggested stop-loss price. We do not provide real-time stop-loss adjustment alerts on our daily trading ideas, as they are just ideas.

Trade at your own risk.

The above trading ideas are generated from our own analysis and are intended for educational and informational purposes only.


Our trading ideas are NOT specific buy recommendations. Trading stocks is always risky, but especially if you have no experience or training. Use our daily trading idea as an educational tool in how to actively trade, use stop losses, and lock in gains/losses. 


We make no guarantees about our trading ideas.


Xpirient, nor its owners or consultants, are investment advisors. Our research, as presented to our members, should not be viewed as a replacement for professional investment advice. We do not personally trade our daily trading ideas. They are presented for educational and informational purposes only. 


If you choose to trade one of our ideas, you do so at your own risk.


You should always consult a trusted investment professional before making any investment decisions.


All stock market data is believed to be accurate and correct. However, we cannot guarantee and are not responsible for inaccuracies in our market data feed, which is provided by a third party.

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