A Safe Oil Stock to Buy

Suncor Energy Inc. (NYSE: SU) — The recent merger with Petro-Canada made SU one of Canada’s largest oil and gas producers. It is focused on Alberta’s vast Athabasca oil sands, making it independent of operations outside of North America. 

Compared with other international oil companies, SU is not only safe from problems in the Middle East, but its profit margins increase greatly when oil rises above $80 per barrel — making it a hedge against rising prices due to Middle East tensions and one of our top stock picks

Technically, SU broke from a saucer formation on Friday, with a long-term target of $50 and a trading target of $45.

Trade of the Day - SU Stock ChartTrade of the Day Chart KeyIf you have questions or comments for Sam Collins, please e-mail him at samailc@cox.net.

Article printed from InvestorPlace Media, https://investorplace.com/2011/01/trade-of-the-day-suncor-energy-inc-su/.

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