Skip to main content

The Husky Energy tower in Calgary.


Husky Energy declined from $54.24 to $24.78 (A-B), had a recovery rally to $36.09 and a trading range mostly between $25 and $30 (dotted lines). Subsequently, the stock settled into a bullish technical pattern known as a "W" formation (dashed lines). The recent rise to $28.33 signalled the breakout from this pattern and the start of a new up-leg (D). Only a sustained decline below $25.50-26 would be negative.

Point & Figure measurements provide targets of $32 and $38. The large compound base formation (dotted and dashed lines) could support higher targets.

Monica Rizk is the senior technical analyst for Phases & Cycles Inc. ( Ron Meisels is a contributor to the website and Tweets at @Ronsbriefs. They may hold shares in companies profiled. Please see the site for a glossary.


Story continues below advertisement

Report an error Editorial code of conduct
As of December 20, 2017, we have temporarily removed commenting from our articles. We hope to have this resolved by the end of January 2018. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to If you want to write a letter to the editor, please forward to