Tourmaline Oil Corp (TOU.CA)

Short term

Tourmaline Oil Corp is in a rising trend channel in the short term. This signals increasing optimism among investors and indicates continued rise. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the stock has support at approximately 65.80 . The stock is assessed as technically positive for the short term.

Recommendation one to six weeks: Positive (Score: 79)

Medium term

Tourmaline Oil Corp has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. The stock has given a positive signal from the rectangle formation by a break up through the resistance at 65.18. Further rise to 83.08 or more is signaled. The stock is approacing resistance at 69.00 , which may give a negative reaction. However, a break upwards through 69.00 will be a positive signal. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the trend break. The RSI curve shows a rising trend, which could be an early signal of the start of a rising trend for the price as well. The stock is overall assessed as technically slightly negative for the medium long term.

Recommendation one to six months: Weak Negative (Score: -36)

Long term

Tourmaline Oil Corp has broken through the ceiling of a falling trend channel in the long term. This indicates a slower falling rate initially, or the start of a more horizontal development. The stock has given a positive signal from the rectangle formation by a break up through the resistance at 64.11. Further rise to 90.07 or more is signaled. The stock is testing resistance at 70.00. This could give a negative reaction, but an upward breakthrough of 70.00 means a positive signal. The stock is overall assessed as technically neutral for the long term.

Recommendation one to six quarters: Hold (Score: -18)