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White Cap Resources Inc.
Company Overview:
Whitecap Resources Inc (TSX: WCP) is engaged in the business of acquiring, developing, and holding interests in petroleum and natural gas properties and assets. The company acquires assets with discovered petroleum initially in place and low current recovery factors. This Report covers the Entry Price, Support and Resistance Level of the stock.
As per the previous Report published on “WCP” as on 27th November 2023, Kalkine provided an “Attractive” stance is given on the stock at the stock price of CAD 9.60.
Noted below are the details of support and resistance levels provided in the previous report:
WCP Daily Chart
WCP, Daily Technical Price Chart, Source: REFINITIV; Analysis: Kalkine Group
Considering the resistance, risk-reward scenario, current trading levels and uncertain macro environment, the stock seems ‘unattractive’ at the closing market price of CAD 8.30 as on 02 February 2024.
Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate.
Whitecap Resources Inc (TSX: WCP) is a part of Kalkine’s Earnings Hunter Report
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level as on 27th November 2023. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Note 4: Target Price refers to a price level which the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.
Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the Toronto Stock Exchange (TSX) and or REFINITIV. Typically, both sources (TSX and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’
The advice given by Kalkine Canada Advisory Services Inc. and provided on this website is general information only and it does not take into account your investment objectives, financial situation and the particular needs of any particular person. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. The website www.kalkine.ca is published by Kalkine Canada Advisory Services Inc. The link to our Terms & Conditions has been provided please go through them. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations later.
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