ECA.T Encana Corp.
Is an energy producer that is focused on developing it’s multi-basin portfolio of natural gas, oil and natural gas liquids (NGLs) producing plays. The companies operations also include the marketing of natural gas, oil and NGLs. All of its reserves and productions are located in North America.
Taking a look at the weekly chart after a long sell off we are starting to see indicators such as the MACD, W%R, RSI and price action starting to curl. We saw a recent production drop brought on by OPEC reduce the amount of oil production hit reserves. This is one of many quality oil & gas producers starting to see their technical turn. After a strong sell off due to tax loss selling we are starting to take positions in these quality names. Many of these oil & gas names are starting to bounce off multi-year lows, we are giving these names a buy with an intermediate hold time.
