[01 August 2024]
Today, StockCharts365.com has taken a closer look at an exciting company on the Oslo Stock Exchange:
Questerre Energy Corp. (ticker on Oslo Stock Exchange: QEC)
The technical picture for the share now signals a significant potential in both the short and medium term.
StockCharts365.com believes the share may now be at a favorable level to buy at, and sees a potential for the share at around NOK 3.00 - 4.00 in 1-3 months' time.
Read more about this below in the case here today, and the technical analysis of Questerre Energy Corp. (ticker on Oslo Stock Exchange: QEC)
First a little about the company Questerre Energy Corp. (ticker on Oslo Stock Exchange: QEC)
"QUESTERRE ENERGY is an energy technology and innovation company. It is leveraging its expertise gained through early exposure to low permeability reservoirs to acquire significant high-quality resources. We believe we can successfully transition our energy portfolio. With new clean technologies and innovation to responsibly produce and use energy, we can sustain both human progress and our natural environment.
Questerre is a believer that the future success of the oil and gas industry depends on a balance of economics, environment and society. We are committed to being transparent and are respectful that the public must be part of making the important choices for our energy future. Questerre’s common shares are traded on the Toronto Stock Exchange and Oslo Stock Exchange under the symbol QEC.
Questerre is actively engaged in the acquisition, exploration, and development of oil and gas projects, in specific non-conventional projects such as tight oil, oil shale, shale oil and shale gas. Questerre holds assets in Alberta, Saskatchewan, Manitoba and Quebec in Canada as well as in the Kingdom of Jordan."
For more information about the company, visit their website here:
Technical Analysis of Questerre Energy Corp. (ticker on Oslo Stock Exchange: QEC)
Charts are from the technical analysis program Vikingen.
Technical Analysis of Questerre Energy Corp. (ticker on Oslo Stock Exchange: QEC)
Questerre Energy (QEC) has been a very volatile share for many years on the Oslo Stock Exchange, and the share has fallen sharply since around 2008/2010, when the share was at its highest around NOK 30.00.
However, in recent years and since the end of 2020, a positive and rising trend has been established for the QEC share.
A further rise is now being signaled for the share both in the short and long term, and within this rising trend which has been established for the share in recent years.
The share is around/above both the 50-day and 200-day moving averages, and this helps to underpin the otherwise positive technical picture for the QEC share.
There is considerable technical support for the share here around the NOK 1.90 - 2.00 level, and the share can thus now be at a favorable level to buy the share at.
In accordance with the long-term positive trend that has been established for the share in recent years, a potential for the share to initially be around NOK 4.00 is signalled.
StockCharts365.com considers the stock a good doubling candidate in the relatively short term (3-6 months), and based on the technical picture that the stock is currently showing.
In the event of a break above the NOK 4.00 level, the next important technical resistance level will be around NOK 8.00.
What could potentially change the currently positive technical picture for the QEC share would be if it were to get an established break below the 50-day and 200-day moving averages, that is, a break below the NOK 1.77 level.
Based on the overall positive technical picture for Questerre Energy Corp. (QEC) then StockCharts365.com considers the share an exciting buy candidate at today's price level, and sees a possible doubling for the share within a relatively short time.
For information, the company delivers its Q2-2024 results report now on 08 August 2024.
NB! Remember to have read and understood the disclaimer.
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