Is Obsidian Energy Ltd (OBE) a Stock to Watch After Gaining 9.10% This Week?

Overall market sentiment has been high on Obsidian Energy Ltd (OBE) stock lately. OBE receives a Bullish rating from InvestorsObserver Stock Sentiment Indicator.

Obsidian Energy Ltd has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on OBE!

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What is Stock Sentiment?

Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends. Sentiment is how investors, or the market, feels about a stock. There are lots of ways to measure sentiment. At the core, sentiment is pretty easy to understand. If a stock is going up, investors must be bullish, while if it is going down, sentiment is bearish. InvestorsObserver’s Sentiment Indicator looks at price trends over the past week and also considers changes in volume. Increasing volume can mean a trend is getting stronger, while decreasing volume can mean a trend is nearing a conclusion. For stocks that have options, our system also considers the balance between calls, which are often bets that the price will go up, and puts, which are frequently bets that the price will fall.

What's Happening With OBE Stock Today?

Obsidian Energy Ltd (OBE) stock is trading at $8.03 as of 10:18 AM on Wednesday, Mar 20, a drop of -$0.12, or -1.47% from the previous closing price of $8.15. The stock has traded between $7.96 and $8.14 so far today. Volume today is less active than usual. So far 74,422 shares have traded compared to average volume of 355,259 shares.

More About Obsidian Energy Ltd

Obsidian Energy Ltd, is an intermediate-sized oil and gas producer with strategic assets in Alberta. It operates in a single reporting segment that is exploration, development and holding an interest in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin. The company generates the majority of the revenue from the Crude oil sale. Click Here to get the full Stock Report for Obsidian Energy Ltd stock.