Today, Hap (Robert) Sneddon FCSI commented about whether PBH-T, IBB-Q, XGD-T, CNR-T, NVDA-Q, ARX-T, ING-N, BPY.UN-T, K-T, NFI-T, ERF-T, FTS-T, ZRE-T, TECK.B-T, NEM-N, CTC.A-T, GIB.A-T, CM-T, TOY-T are stocks to buy or sell.
It's a consumer discretionary stock. Canadian consumption is up 7.7% the last quarter and is hitting a 20-year high. However, CTC is in a steady downtrend. Around $142 is resistance, a problem. His indicators are pointing down on this stock. There's also a lot of overhead supply, too. There must be something fundamental affecting this stock.
This has had a slow downtrend for the last 12 months. But seasonality kicks in during the summer for oil stocks, and the US dollar will help this dramatically if the USD breaks down. ERF pays a decent yield. Good management. The current price south of $10, we hit it in 2015, and faced resistance in 2016 with several touches in 2017. If it keeps falling, it will fall to $6-7. July should push this to $11, and it could move back to $16.