Shares of Suncor Energy (SU) Sees Large Outflow of Money

Suncor Energy (SU) : The total negative money flow of $1.12 million on Tuesday indicates selling on strength. The inflow of money on upticks was $6.3 million, compared to $7.42 million outflow on downticks, which confirms distribution in the stock. The up to down ratio was 0.85. The negative money flow of $2.42 million in block trades reveals that the informed traders sold the stock on every bit of price strength. The traded value of the stock on uptick was $1.05 million in a block trade.The transaction value of block trade on downtick was $3.47 million. The uptick to downtick ratio was 0.3. The price action in the Suncor Energy (SU) stock suggests that both the bulls and the bears were in equilibrium. The stock traded at $27.78 with a gain of $0.02 , a change of 0.07% over the previous days close. The stock registered -1.07% for the week.


Also, Bank of America initiates coverage on Suncor Energy (NYSE:SU) . Analysts at the Bank of America have a current rating of Buy on the shares. The rating by the firm was issued on August 19, 2016.

Suncor Energy Inc. has dropped 1.63% in the last five trading days, however, the shares have posted positive gains of 7.33% in the last 4 weeks. Suncor Energy Inc. is up 2.77% in the last 3-month period. Year-to-Date the stock performance stands at 9.64%.

Suncor Energy (NYSE:SU): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $27.80 and $27.66 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $27.94. The buying momentum continued till the end and the stock did not give up its gains. It closed at $27.82, notching a gain of 0.22% for the day. The total traded volume was 3,654,989 . The stock had closed at $27.76 on the previous day.

Suncor Energy Inc. (Suncor) is an integrated energy company. The Company is focused on developing Canadas petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production, and Refining and Marketing. The Companys Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations. Its Exploration and Production segment consists of offshore operations off the east coast of Canada and in the North Sea, and onshore assets in North America, Libya and Syria. The Companys Refining and Marketing segment is engaged in Refining and Supply, and Downstream Marketing. In addition, the Company explores, for, acquires, develops, produces and markets crude oil and natural gas in Canada and internationally. The Company also transports and refines crude oil, and markets petroleum and petrochemical products primarily in Canada.

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